[ad_1] Adani Group shares rallied, extending gains spurred by an Indian court panel’s report that found no conclusive evidence of stock-price manipulation as alleged by US short seller Hindenburg Research.The 10 Adani stocks added about $10 billion to their market value in Monday’s session, the most since Hindenburg’s scathing report in January. Flagship Adani Enterprises … Read more
[ad_1] NEW DELHI: Billionaire Gautam Adani‘s group will raise Rs 21,000 crore (over $2.5 billion) through share sale in two group companies in the boldest comeback strategy after the ports-to-energy conglomerate was rocked by allegations of fraud levelled by a US short-seller.Adani Enterprises Ltd, the group’s flagship firm, plans to raise Rs 12,500 crore while … Read more
[ad_1] Billionaire investor Carl Icahn came under pressure again on Thursday as short seller Hindenburg Research began shorting bonds in Icahn Enterprises LP (IEP) and said Icahn’s firm has failed to address every key issue it had raised.Hindenburg’s latest move comes after IEP reported a surprise loss on Wednesday and said it was contacted by … Read more
[ad_1] MUMBAI: Less than four months after allegations of fraud by a short seller tipped his business empire into crisis, billionaire Gautam Adani is considering tapping equity markets in a major test of investor confidence.Adani Enterprises Ltd, the Indian tycoon’s flagship, said in a statement on Wednesday it’s holding a May 13 board meeting to … Read more
[ad_1] NEW YORK: MSCI will lower the free float of two of India’s Adani Group companies, Adani Total Gas and Adani Transmission in its May index review, the financial index provider said on Friday.MSCI now sees the Adani Total Gas’ free float at 14% and Adani Transmission at 10%, from 25%.Free float is defined as … Read more
[ad_1] NEW DELHI: Retail investors in India were buyers in most Adani group companies as the unprecedented selloff sparked by short-seller Hindenburg Research’s allegations corrected their sky-high valuations.Individual investors raised their holdings in eight of the 10 companies related to the ports-to-power group in the three months through March, including its flagship firm Adani Enterprises … Read more
[ad_1] MUMBAI: Two months on from its explosive report into Gautam Adani’s acquisitive conglomerate, short seller Hindenburg Research has left the Indian billionaire’s empire chastened and reevaluating its ambitions. Hindenburg’s allegations of extensive, years-long corporate fraud at the Adani group have wiped out about $125 billion in market value since January, spurring the tycoon to … Read more
[ad_1] MUMBAI: The Securities and Exchange Board of India confirmed that it will submit its findings on the Adani Group to a court-appointed committee.“If you see the Supreme Court order, it instructs us to give precisely this update to the committee,” Madhabi Puri Buch, chairperson of the nation’s capital markets regulator, said in Mumbai Wednesday. … Read more
[ad_1] MUMBAI: Adani group stocks slumped to erase over 523 billion rupees ($6.4 billion) in market value on Tuesday, the biggest decline since early February, on renewed concerns over the ports-to-power conglomerate’s ability to repay its debt.Adani Ports and Special Economic Zone Ltd fell more than 9%, dipping below the price GQG Partners paid to … Read more