Page 20 - Adani Group

Adani Wilmar to be dropped from S&P BSE IPO indices: Asia Index Pvt Ltd

(Reuters) - Asia Index Pvt Ltd said on Friday Adani Wilmar Ltd will be dropped from the S&P BSE IPO index.

Moody's Investor Service cuts rating outlook on 4 Adani companies

Moody's Investor Service on Friday revised downwards the rating outlook on four Adani Group companies to negative from stable after a significant and rapid decline in market value following a report by US-based short seller Hindenburg Research. In a statement, Moody's said the rating outlook for Adani Green Energy Ltd, Adani Green Energy Restricted Group, Adani Transmission Step-One Ltd and Adani Electricity Mumbai Ltd has been changed to negative from stable. "These rating actions follow the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a report from a short-seller highlighting governance concerns in the Group," it said.

Sensex dips 124 pts, smallcaps shine; Paytm cracks 9%, Tata Motors up 2%

CLOSING BELL: HCL Tech (down 2.7 per cent), Tata Steel, Reliance Industries, Wipro, ITC, ICICI Bank, Infosys, and HUL were top Sensex losers

Adani Green, Adani Transmission, Adani Total Gas hit 52-week lows

Adani Ports and Special Economic Zone, Adani Wilmar, ACC, Ambuja Cements and New Delhi Television (NDTV) are down in the range of 1 per cent to 5 per cent.

Index provider MSCI cuts 4 Adani group securities free-float designations

MSCI said it had reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and the Associated Cement Companies, the report said

Hindenburg's accusations against Adani Group put money-laundering in focus

A more than $100 billion rout in the share prices of the highly leveraged infrastructure owner has the potential to spark a broader contagion, especially if the local banking system gets infected

Top headlines: Adani stcks remain in MSCI indices, TikTok fires India staff

Business Standard brings you the top headlines at this hour

As China battles crises, HSBC bets big on India's $400 bn pile of wealth

It also plans to launch an onshore private banking service in the South Asian country this year

Sustainalytics downgrades three Adani companies' governance scores

The changes flow to the overall risk rating tied to environmental, social and governance (ESG) matters assigned by Sustainalytics to Adani companies

Stocks to Watch: LIC, Zomato, Adani group, Varun Beverages, Voltas, M&M

Stocks to Watch: As per reports, MSCI on Thursday evening said it had cut its determined free float for four companies in the Adani Group: Adani Enterprises, Adani Total Gas, Adani Transmission & ACC

Stocks of Adani Group remain in MSCI indices after quarterly review

It is still unclear whether the index provider has adjusted weightings of any of the group's stocks in its equity gauges in its latest review

Will meet Adani Group management, seek clarification: LIC Chairman

LIC chairman M R Kumar on Thursday said the officials of the public sector insurer will soon meet top management of the Adani Group and seek clarification on the crisis being faced by the diversified conglomerate. LIC's investment into Adani group firms' stock has come under criticism by the opposition parties as well as investors after US-based short-seller Hindenburg Research made a litany of allegations against the Gautam Adani-led group, saying its companies manage and manipulate share prices, run offshore shell companies for round-tripping and lacking in corporate governance practices. "Though our investor team has already sought clarifications from the Adanis, our top management could contact them yet as we have been busy preparing the results. We are soon going to call them to meet us and explain. We want to understand what is happening in the market and in the group," the chairman told reporters at the earnings conference on Thursday. "We'll be calling them in sometime soon

Fresh troubles: Adani Group stocks decline on MSCI free float review

Questions 'characteristics' of certain investors; validation of findings, says Hindenburg founder

SC to hear plea seeking probe into Hindenburg report on Friday

The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. Advocate Vishal Tiwari, who has filed the petition, mentioned the matter for urgent listing before a bench headed by Chief Justice D Y Chandrachud on Thursday. Tiwari told the bench, also comprising Justices P S Narasimha and J B Pardiwala, that a separate plea filed on the issue is scheduled to be listed for hearing on February 10. He urged the bench that his plea be also heard on Friday along with the separate plea. In his public interest litigation (PIL), Tiwari has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court by advo

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Amid ruckus, PM Narendra Modi says he outweighs entire Opposition

PM Modi said, "The more dirt you fling, the bigger the kamal - the election symbol of BJP - will bloom)

Is there pressure on NSE, SEBI to go 'easy' on Adani Group, asks Congress

The Congress alleged on Thursday that the National Stock Exchange (NSE) "failed" to take action against the embattled Adani Group and asked if there was "pressure" on the bourse and market regulator SEBI to go easy on the conglomerate. Congress general secretary Jairam Ramesh posed a set of three questions to Prime Minister Narendra Modi as part of the party's "HAHK (Hum Adani ke Hain Kaun)" series to target the government in the wake of the fraud-allegation-triggered rout in Adani Group company stocks. Ramesh alleged that the "failure" of market regulators like the Securities and Exchange Board of India (SEBI) to protect Indian capital markets has "tarnished" their image and put a question mark on the integrity of India's financial markets. In a statement addressing the prime minister, Ramesh said, "You (PM) have used strong words in the past, calling on world leaders at G20 meets 'to eliminate safe havens for economic offenders', to 'track down and unconditionally extradite money

Adani Power receives NCLT's approval for merger of six subsidiaries

As many as nine Adani Group firms were trading in the negative territory, while one company was trading in the green

Adani faced margin call on $1.1 bn loan before repaying in full: Report

According to the report, the repayment was meant to avoid any further damage to investor confidence

Sustainalytics downgrades three Adani companies' governance scores

The changes would not have a major impact on the overall risk scores, a Sustainalytics director said