Adani Group CFO Jugeshinder Singh dismissed the allegations as 'baseless,' assuring stakeholders of no direct involvement by any Adani entity in unlawful acts
The moves aim to bring transparency in how the wealth of Asia's second-richest person, valued at $105.4 billion
Hindenburg's original report, in which it had accused the centi-billionaire of pulling largest con, caused Adani Group's market capitalization to crater by $150 bn
Media reports had said earlier this year that the Adani Group was exploring a merger between the two companies
The move to accelerate earnings growth is being pegged as a significant move amid the aftermath of the short-seller report by Hindenburg Research
The Adani Group lost as much as $153 billion in market value after a US short-seller accused the conglomerate of stock-price manipulation
AdaniConneX Private Ltd would use this $200 mn loan for capital expenditure, with a five year tenor under discussion
Adani seeks to reassure international investors that the ports-to-power empire's finances are under control
The Group refuted The Ken news report, stating it as "baseless and deliberately mischievous".
Stocks to Watch: Index heavyweights Reliance and Bharti Airtel will see some action as the former wages a price war in the broadband connection.
The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares
The combined market-capitalisation (market-cap) of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public
India overall lacks aviation capability, he said
Adani Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles
Hindenburg fallout: Adani Group suspends work on Rs 34,900 cr petchem project
Adani Group said it has completed full prepayment of margin linked share backed financing aggregating to $2.15 billion, well before committed timeline of 31 March 2023
The stock of Adani Power closed at Rs 196.05, Adani Transmission at Rs 860.85, Adani Green Energy at Rs 650.55 and Adani Total Gas at Rs 904.95 apiece on BSE
Analyst recommends investors should wait for some constructive growth direction before venturing into the Group stocks.
Flags interest rate risks, uncertainty on cash flow mismatches
So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.