Adani Enterprises Ltd

Firing a fresh salvo at the government, the Congress on Sunday pointed to Adani Group's alleged China links and asked why the conglomerate is still being permitted to operate ports in India. Attacking the Centre, Congress general secretary Jairam Ramesh cited a media report which claimed that the government denied security clearance in 2022 to a consortium of APM Terminals Management and Taiwan's Wan Hai Lines after agencies discovered a connection between a Wan Hai director and a Chinese firm. This blocked the consortium's bid to operate a container handling terminal at the Jawaharlal Nehru Port Authority, Ramesh said in a statement, pointing out that it is a government policy to prevent Chinese firms and entities with Chinese connections from operating ports and terminals in India. "This raises fresh questions about the Adani Group's China links. As we have repeatedly pointed out in our Hum Adani ke Hain Kaun (HAHK) series of questions to PM Narendra Modi, Chinese citizen Chang ..

Embattled Adani Group is looking at a 20 per cent growth in earnings across businesses spanning from sea ports to airports, edible oil and commodities, energy, cement and data centres, to repay about USD 23 billion of debt over the next 3-4 years in a comeback strategy, sources said. Adani group executives have met bankers, bond holders, analysts and investors from Singapore to the US in the last three weeks to address stakeholders' concerns in the aftermath of a damning US short seller report that ripped off USD 135 billion in market value of listed companies of the conglomerate. Sources aware of the development said Adani at these roadshows presented the growth story of the sprawling conglomerate that is refocusing its energies on higher efficiency in business and bringing down debt rather than breakneck speed expansion. The group saw a 20 per cent growth in EBITDA or earnings before interest, taxes, depreciation, and amortization, helping it pare debt. Between 2013 and 2022, ...

Most Adani group stocks recovered some lost ground on Wednesday after a heavy sell-off a day earlier amid reports of the group's ability to service the debt levels.

(Reuters) -Ratings agency Fitch said two Adani Group subsidiaries were exposed to "heightened contagion risks", possibly affecting their financial flexibility

Rajya Sabha proceedings were adjourned till Monday amid uproar with Opposition members raising slogans demanding a JPC probe into the allegations against the Adani Group. Soon after the Upper House reassembled at 2 pm, following an adjournment in the pre-lunch session, Chairman Jagdeep Dhankhar gave the floor to Secretary General PC Mody to inform the members about a message from Lok Sabha that the Competition (Amendment) Bill, 2022 has been passed and laid a copy of the bill amid slogan shouting by the opposition MPs. The chairman then took up the motion for nomination to the Joint Committee on the Forest Conservation Amendment Bill, 2023 and asked Environment Minister Bhupender Yadav to move it. Yadav moved the motion to nominate Rajya Sabha members Ashok Bajpai, Anil Baluni, Samir Oraon and CM Ramesh (all BJP), Jawhar Sircar (AITC), Prashanta Nanda (BJD), Hishey Lachungpa (SDF), Birendra Prasad Baishya (AGP) in the committee besides two members to be nominated by the chairman. A

The Group refuted The Ken news report, stating it as "baseless and deliberately mischievous".

Congress leader Rahul Gandhi on Monday asked Prime Minister Narendra Modi why there was no investigation into the investment of people's retirement fund in the Adani group even after various allegations were levelled against the firm. Taking to Twitter, Gandhi said, "LIC's capital, to Adani! SBI's capital, to Adani! EPFO's capital too, to Adani! Why is public's retirement money being invested in Adani's companies even after 'Modani' exposed?". "Mr prime minister, no investigation, no answer! Why so much of fear," he asked in a tweet in Hindi. A major political controversy erupted after Adani Group stocks took a beating on the bourses after US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation, last month. The Gautam Adani-led group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Gandhi has been attacking the prime minister on the Adani issue and has bee

Despite an erosion of 20 per cent or $21 billion in wealth, Reliance Industries' Chairman and Managing Director Mukesh Ambani continues to be at the top 10 wealthiest individuals

The Congress claimed on Friday that the National Stock Exchange (NSE) has lifted additional surveillance on some Adani Group company stocks and asked why stock exchange regulator Securities and Exchange Board of India (SEBI) is standing by and allowing investors to take on added exposure to such stocks. Congress general secretary, communications Jairam Ramesh posed questions on Twitter to Prime Minister Narendra Modi on the Adani issue as part of the opposition party's "Hum Adanike Hain Kaun" series. "Another day of adjournment and protest. The PM-linked Adani 'Maha Mega Scam' continues to be the subject of agitation by the Opposition and stonewalling by the Government. Here is HAHK (Hum Adanike Hain Kaun)-31. Chuppi Todiye Pradhan Mantriji," Ramesh said in a tweet. He claimed that even as global index providers such as MSCI, S&P Dow Jones and FTSE Russell reviewed the position of the Adani stocks in their equity indices, the NSE went the other way and included five Adani Group ...

The National Stock Exchange (NSE) and the BSE has announced that three Adani group companies -- Adani Enterprises, Adani Power and Adani Wilmar -- will move out of the short-term additional surveillance measure (ASM). The stocks will be excluded from the short-term ASM framework with effect from March 17, according to separate circulars available on the exchanges. The NSE and the BSE had put the three Adani group firms, including the flagship firm Adani Enterprises, under the ASM framework on March 8. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. In addition, the NSE said that on these securities, "margins to be restored prior to ASM on all existing derivative contracts." Tata Teleservices (Maharashtra) Ltd (TTML) is also another stock that was excluded from the framework. "Applicable rate of margin shall be 50 per cent or existing margin ..

The Congress on Tuesday said the Modi government's refusal to allow the Opposition to raise its demand for a JPC into the Adani issue was to be blamed for the impasse in Parliament. Amidst stepped up opposition demand for a Joint Parliamentary Committee (JPC) probe into the Adani issue, Congress leader Rahul Gandhi levelled a slew of allegations against the Modi government on its foreign policy and claimed that it was aimed at benefiting the Adani Group. "Is the objective of India's foreign policy to make Adani richer? In the last nine years, Modi ji has kept India in 'bhram (misled)' and Adani in 'vishwa bhraman (global travel)' along with him," Gandhi alleged in a video in Hindi. Asked about Congress' allegations, Union minister Giriraj Singh said, "Adani had made it clear that the first break was given to him was given by (Congress CM) Chimanbhai Patel...the second break was given by Rajiv Gandhi. (They believe that) if Adani does development for the country then it should be onl

Analyst recommends investors should wait for some constructive growth direction before venturing into the Group stocks.

Embattled Adani Group on Tuesday said it has repaid share-based financing of Rs 7,374 crore (over USD 900 million) and will prepay all such remaining loans by the end of the month, as it looks to allay concerns over leverage and debt to win over investors. The repayment will release pledge on shares of promoters in four group companies, it said in a statement, adding that together with repayments done earlier, the group has prepaid USD 2.016 billion of share-backed financing. In September last year, CreditSights, a Fitch Group unit, said the group was "deeply overleveraged" as it used debt to expand an empire centred on ports and coal mining to include airports, data centres and cement as well as green energy. In a January 24 report, US short seller Hindenburg Research flagged "substantial" debt levels at the group while alleging accounting fraud and use of offshore shell companies to inflate stock prices. The group has denied all Hindenburg allegations, calling them "malicious", .

The promoters plan to use the proceeds to retire debt and for other purposes.

The Congress on Thursday accused the government of indulging in "blatant favouristism" and giving the Adani group "undue advantage" in major small arms contracts for the armed forces. Posing a set of three questions to Prime Minister Narendra Modi as part of the party's "Hum Adani ke Hain Kaun" series, Congress general secretary Jairam Ramesh said the party had asked the PM a series of questions on February 15 regarding the "handing over" of large chunks of the India-Israel defence partnership to his "close friend" Gautam Adani. The Congress' slew of allegations have continued weeks after Adani Group stocks had taken a beating on the bourses after US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation. The Gautam Adani-led group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. "While he (PM) gives his gyan to G20 Foreign Ministers, he cannot run away from

Adani Enterprises, the Group flagship company, saw around 38.96 million equity shares (3.4 per cent of total equity) worth of around Rs 5,487 crore change hands on the BSE this morning.

Adani Enterprises on Tuesday said its wholly-owned subsidairy Mundra Aluminium was declared as the preferred bidder for the Kutrumali bauxite block by the Odisha government.

According to the Bloomberg Billionaires Index, Adani's wealth has eroded by more than $78 billion this calendar year

The Central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected.

NEW DELHI (Reuters) - Indian tycoon Gautam Adani's conglomerate has been pummelled by a stock rout and come under increasing scrutiny after U.S. short-seller Hindenburg Research