Page 4 - Adani Group

SC seized of Hindenburg report on Adani group: MoS Rao Inderjit Singh

Minister of State for Corporate Affairs Rao Inderjit Singh on Monday said the Hindenburg report is with regard to the listed companies of Adani group which fall under the purview of Sebi and that the Supreme Court is seized of the matter. His response in the Lok Sabah through a written reply was to a query on whether the corporate affairs ministry has conducted any review on the financial statements and other regulatory submissions of Adani group of companies after the Hindenburg report. "The Hindenburg report is with regard to the listed companies of Adani group which fall under the purview of Sebi," the minister said. According to Singh, the Supreme Court is seized of the matter and has passed an order constituting an expert committee to look into the matter. He noted that the court has also directed all the agencies of the Union government, including agencies connected with financial regulation, fiscal agencies and law enforcement agencies, to cooperate with the committee. "The

All 10 Adani group firms end lower; Adani Power, Adani Transmission down 5%

All the ten listed firms of the Adani group ended the day in the negative territory on Monday, with Adani Power, Adani Transmission, Adani Wilmar and Adani Total Gas falling nearly 5 per cent each. Shares of Adani Power tanked 4.98 per cent, Adani Transmission tumbled 4.98 per cent, Adani Wilmar dived 4.93 per cent and Adani Total Gas slumped 4.91 per cent on the BSE. The stock of NDTV went lower by 4.60 per cent, Adani Green Energy fell by 4.40 per cent, Adani Ports dropped 1.43 per cent, ACC dipped 1.01 per cent, Adani Enterprises declined 0.99 per cent and Ambuja Cements (0.59 per cent). Many of the group firms hit their lower circuit limits during the day. In the equity market, the 30-share BSE Sensex climbed 126.76 points or 0.22 per cent to finish at 57,653.86 after a volatile trade. Out of the ten listed firms of the Adani group, seven companies ended the day in the negative territory on Friday. Stocks of eight Adani group companies out of the 10 listed entities closed in t

Why not investigate Adani issue, why so much of fear: Rahul targets PM Modi

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

Congress-led Oppn protest outside Parliament, seek probe in Adani matter

Trinamool Congress, which had earlier indicated that it would not participate in the protests, also took part

BJP trying to divert attention from Adani issue by making accusation: RaGa

With the BJP accusing him of insulting OBCs with his "Modi surname" remark, Congress leader Rahul Gandhi on Saturday said he has been talking of brotherhood in all his speeches and the ruling party was just trying to divert attention from the Adani issue by making such allegations. Gandhi was on Thursday sentenced to two years in jail by a Surat court in a 2019 criminal defamation case over his "why all thieves have Modi surname" remark. Several BJP leaders, including party chief J P Nadda, have accused Gandhi of insulting Other Backward Classes (OBCs) through his remark in 2019. Asked about the BJP's allegation, Gandhi said at a press conference here, "Look at any of my speeches in the Bharat Jodo Yatra, I am saying that all communities are the same, everyone should move forward together, there should be brotherhood, there should be no hate, there should be no violence. So my position is absolutely clear." "This is not an issue of OBCs, this is an issue of the relationship between

Government hasn't intervened in Adani's tussle with US short seller: Sanyal

The "government has not intervened anywhere," Sanyal, a member of prime minister's economic advisory council, said in an interview in New York

Will not be scared by disqualification or being put in jail, says Rahul

Congress leader Rahul Gandhi claimed on Saturday that he has been disqualified from the Lok Sabha because Prime Minister Narendra Modi was scared of his next speech on the Adani issue and alleged that the "whole game" was to distract people from the panic that the government was feeling over the matter. At his first press conference after being disqualified from the Lok Sabha, Gandhi said he will keep asking questions on the issue involving industrialist Gautam Adani's business empire and will not be scared by disqualification or being put in jail. The former Congress chief was flanked at the press meet by Rajasthan Chief Minister Ashok Gehlot, his Chhattisgarh counterpart Bhupesh Baghel and party general secretaries Jairam Ramesh and KC Venugopal. Gandhi said the moot question remains that who invested Rs 20,000 crore in Adani shell firms and he will keep asking that question. "Even if they permanently disqualify me, I will keep doing my job," he added. The Congress leader also .

Adani share rout: LIC likely to put caps on investment exposure

"LIC is looking to have 'boundary conditions' on its investments that would limit its exposure to scrips," said the source

GQG Partners' investment in Adani Green Energy soars 100% in 15 days

On March 2, GQG Partners had bought 55.6 million equity shares of AGEL, worth Rs 2,806 crore, at a price of Rs 504.60 per share

LIC plans investment exposure caps post Adani share rout: Reports

After the Adani group lost over $100 billion in valuation post scathing allegations by U.S.-based Hindenburg Research, state-run LIC was criticized for having over $4 billion exposure

Lok Sabha passes Rs 45 trillion Budget for current fiscal without debate

Lok Sabha on Thursday approved the Union Budget envisaging an expenditure of around Rs 45 lakh crore for the fiscal year starting April 1 without any discussion, as the Opposition continued to create ruckus over demand for a JPC probe into allegations against the Adani Group. The Lower House of Parliament took up the Demands for Grants and Appropriation Bills after two adjournments as the ruling and Opposition MPs engaged in a matching duet over demands for an apology by Rahul Gandhi and the Adani issue. Most of the second leg of the Budget Session has been washed out due to the protest by both sides and it was one of the rare occasions when the Budget was passed without any discussion. Soon after the Lok Sabha reassembled at 6 pm after two adjournments, Speaker Om Birla put the Opposition's cut motion or amendments to the government spending plan to vote which was rejected by voice vote. This was followed by Finance Minister Nirmala Sitharman moving the demands for grants for 2023-

DB Power buys out investor GIP's stake, pays back Rs 500 cr loan

Power generation unit of Dainik Bhaskar Group was to be bought by Adani Power; deal called off

Investments in Adani entities comply with Indian laws: TotalEnergies

That represented a significant capital gain from the end of 2022, when such investments stood at $3.1 billion, TotalEnergies said in a statement

Another report coming soon, says US short-seller Hindenburg Research

The latest tweet by the New York-based research firm didn't provide any specifics on the timing of the next report's release, or what it intends to say

PM Modi's green dream at risk as Indian renewables hit by headwinds

Energy transition investments in India already lag behind other major nations, and now the cost of capital is increasing as global interest rates rise

S&P Global Ratings to answer questions on Adani Group in coming months

S&P Global Ratings will be answering many questions about India-based Adani Group in the coming months, the credit rating agency said on Wednesday.

Gautam Adani lost Rs 3,000 crore a week in 2022-23: M3M Hurun report

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

Long-term aim to reduce costs of operation by 30-50%: Adani Airports CEO

India overall lacks aviation capability, he said

Adani Airports following investments as per plans submitted to govt: CEO

Adani Airports on Wednesday said there is no rethink on the pace of expansion and it was following the investments as per plans submitted to the government, amid the parent group facing certain challenges in recent times. The comments from company's CEO Arun Bansal come against the backdrop of Adani Group facing challenges in the wake of a report by US-based short-seller Hindenburg Research. In January, the short-seller had accused the conglomerate of using offshore shell companies to inflate its listed companies' stock prices as well as of accounting fraud. It had also flagged concerns about Adani Group's Rs 2.3 lakh crore debt in the report. Adani Group has denied the allegations. Adani Airports is a part of the group's flagship Adani Enterprises Ltd. To a query on whether there is any rethinking in terms of pace of expansion or investments for airports business in the context of the challenges faced by the group, Bansal replied in the negative. "No. We have committed, submitte

Need to reduce airports' operating costs by 30-50%: Adani Airports CEO

Adani Airports chief Arun Bansal on Wednesday said the cost of operating airports has to come down by 30-50 per cent in the coming years as he highlighted the growth potential of the Indian aviation market. Currently, the company is operating seven airports and is building another one. Bullish on the Indian market, Bansal said it would like to operate more airports and eventually become a leading airport operator in the world. Adani Airports is investing in physical and digital segments, and is committed to building the capacity, he added. Indian aviation had been taken for granted for the last 20-30 years and the cost of operating airports should come down by 30-50 per cent in the coming years, he noted. Adani Airports is bullish on the country's aviation market and wants to "do more airports", Bansal said, adding that under the first phase, Navi Mumbai airport will start operations by December 2024. The passenger handling capacity will be 20 million in the first phase of Navi M