Page 3 - Gautam Adani

SC order on Hindenburg issue: Truth will prevail, says Gautam Adani

Embattled tycoon Gautam Adani on Thursday welcomed the Supreme Court order of a time-bound probe into allegations levelled by Hindenburg Research against his group, saying this will bring finality and truth will prevail. Shortly after a bench headed by Chief Justice D Y Chandrachud passed the order, Adani tweeted: "The Adani Group welcomes the order of the Hon'ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail." The Supreme Court on Thursday asked markets regulator Sebi to complete an investigation into US short-seller Hindenburg's allegations against Adani Group within two months. It also ordered constituting an expert committee to review regulatory mechanism in view of the rout in share prices of Adani firms triggered by the Hindenburg allegations.

SC directs Sebi to probe Adani; group stocks hold gains amid heavy volumes

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.

SC decision on Adani-Hindenburg probe panel today: 5 things you must know

On February 17, the Centre had told the apex court that they would submit their suggestions for the proposed panel in a sealed cover, but the court refused to accept it

Congress endgame

Plenary weakens prospects of a united front

Gautam Adani slips to 32nd in rich list, net worth shrinks to $37.7 billion

Indian billionaire Gautam Adani's net worth has shrunk to $37.7 billion, taking him to 32nd on the Bloomberg Billionaire Index

Elon Musk returns to the top, becomes richest person on the planet again

The rise in Musk's wealth can be attributed to the rally in Tesla stocks that has outpaced the rally in the Nasdaq 100 Index so far this year

No refinancing, capital plans at HK roadshow, says Adani Group CFO

When asked "Are you looking to refinance any debt?" on the sidelines of the Hong Kong roadshow Tuesday, Singh said: "No, we don't have anything major at all"

Adani rebuffs report of $400 mn fundraise against Australian assets

Australia's corporate regulator earlier this month said it will review the report that has flagged a wide range of concerns about the group led by billionaire Gautam Adani

ITC's climb to all-time high shows Indian investors searching for stability

ITC's climb has accelerated this month, as Hindenburg Research's allegations against the Adani Group has made Adani Enterprises and Adani Ports & Special Economic Zone the index's worst performers

Adani-Hindenburg saga: A world tour seeks to win back debt investors' faith

A dozen global banks will help host the investor meetings at Singapore's Capitol Kempinski hotel. The conglomerate will then hold meetings in Hong Kong at Barclays Plc office on Tuesday and Wednesday

Gautam Adani isn't the only Indian tycoon in trouble. Look at Vedanta

With Adani scandal putting Modi govt under heightened scrutiny about entanglement of public purpose with private profit, Vedanta's top priority should be to stay out of the headlines

Adani saga: The elephant in the room

The Adani group stocks don't need to keep going down and hit Hindenburg's estimate of fair value

Adani Ports and SEZ crosses 300 MMT cargo handling in just 329 days

Adani Ports and Special Economic Zone (APSEZ) crossed 300 million metric tonne (MMT) of cargo handling on Thursday. The company crossed the cargo handling in just 329 days. APSEZ has registered growth since it started operations over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly, the company said in a statement. "APSEZ's flagship port, Mundra, is outpacing all its closest rivals by comfortable margins and continues to be the largest port in the nation in terms of volumes handled," APSEZ CEO and Whole Time Director Karan Adani said. APSEZ, a part of Adani Group, has evolved from a port company to an integrated transport utility providing an end-to-end solution from its port gate to customer gate.

India's Enron Moment? Gautam Adani slips to No 30 among the top rich

Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by USD 80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices. The group has denied allegations, calling them "malicious", "baseless" and a "calculated attack on India". SELL-OFF: Since the Hindenburg report, the .

Adani group to hold fixed-income investor roadshow in Asia next week

The group is boosting outreach to investors after its bonds and stock slumped following a critical report from short-seller Hindenburg Research published last month

Supreme Court rejects plea to stop media from reporting on Adani-Hindenburg

Last week, SC had reserved orders on constituting an expert committee to review the regulatory mechanism in India to protect the investors

A month after Hindenburg report: It's business as unusual for Adani Group

As on December 2022, retail investors held between 1 per cent and 11 per cent in the 10 Adani group stocks

Bank of Baroda CEO Chadha says willing to continue lending to Adani group

Bank of Baroda will extend loans to the conglomerate if it meets the lender's underwriting standards, said Sanjiv Chadha

Bank of Baroda to consider all borrower requests, including Adani, on merit

"Irrespective of borrower, you have underwriting standards and you stick to them in good times as well as bad times," Sanjiv Chadha, CEO and MD, at Bank of Baroda

PineBridge looks past Adani Group saga to load up on stocks in India

The stock meltdown offered an entry point into what's historically an expensive market, according to Kelly, who also sits on PineBridge's management committee