Sensex Nifty rise ahead of RBIs policy decision Adani Group shares surge
Citing the LIC statement on the matter, the unions said LIC has earned a notional profit of almost 20,000 crore on its investment in the Adani Group
Adani Enterprises Ltd., the flagship company, finished up nearly 15% on Tuesday, leading gains as other related stocks also rose
Adani firms post mixed Q3 results amid row over governance issues
Is Adani group too big to fail? Why do big ships give India a miss? Are defensive stocks a good bet amid market volatility? What are fault lines? All answers here
The conglomerates finances have come under scrutiny after US short-seller Hindenburg Research levied accusations of accounting fraud and market manipulation at the Adani Group, wiping more than $100 billion from its market capitalization.
According to Sudip Bandyopadhyay, group chairman of Inditrade Capital, long-term investors could look at buying Adani Ports and Adani Wilmar. If you look at the valuations, these were relatively reasonably valued even pre-correction, and now post-correction, they are definitely attractive from a long-term investor's point of view, so these can be acquired, he said.
Last week, state-owned LIC said it has 35,917.31 crore investment in Adani Group's debt and equity securities. The amount is 0.975% of the insurer's total assets under management of more than 41.66 lakh crore.
Foreign funds' bearish bets on index futures, including Nifty contracts, have increased to 85% of their overall positions in the derivatives segment - the highest level since September 2022. Half these punts have been added in the past two weeks - around the time the Hindenburg Research's adverse report on Adani Group companies was released on January 24.
The Maharashtra government will soon issue a Government Resolution (GR) formally awarding the Dharavi redevelopment project to the Adani Group, deputy CM Devendra Fadnavis, who holds the housing portfolio, told TOI on Tuesday.
Mumbai airport was not hijacked by the Modi government from the GVK Group to be handed over to Gautam Adani. GVK vice-chairman G V Sanjay Reddy has refuted Congress leader Rahul Gandhis allegation made in Parliament on Tuesday that his conglomerate was forced to hand over the airport to the Adani Group in July 2021.
According to industry observers, the decision to undertake an independent assessment augurs well to reassure investors, especially equity investors, who have borne the major brunt in the saga and have witnessed steep wealth erosion.
GVK Group Vice Chairman Sanjay Reddy on Tuesday said there was absolutely no pressure from the Adani Group or anyone else to sell the Mumbai airport. His comments come on a day when Congress leader Rahul Gandhi alleged in Lok Sabha that Mumbai airport, was taken away from GVK using agencies such as the CBI and the ED, and was given to Adani by the Government of India. Adani Group took over the management of the Mumbai airport from the GVK Group in July 2021. In an interview to television channel NDTV on Tuesday, Sanjay Reddy said, There was absolutely no pressure from the Adani group or anyone else for us to sell the Mumbai airport. While explaining the circumstances that led to the sale of the airport, Reddy said the group was looking to raise funds for the airport business. Reddy said that at that time, Gautam Adani approached him and said he had a lot of interest in the airport and whether GVK group was willing to do a transaction with him. ... He (Adani) said that he wil
GVK Group Vice Chairman Sanjay Reddy on Tuesday said there was absolutely no pressure from the Adani Group or anyone else to sell the Mumbai airport. His comments come on a day when Congress leader Rahul Gandhi alleged in Lok Sabha that Mumbai airport, was taken away from GVK using agencies such as the CBI and the ED, and was given to Adani by the Government of India. Adani Group took over the management of the Mumbai airport from the GVK Group in July 2021. In an interview to television channel NDTV on Tuesday, Sanjay Reddy said, There was absolutely no pressure from the Adani group or anyone else for us to sell the Mumbai airport. While explaining the circumstances that led to the sale of the airport, Reddy said the group was looking to raise funds for the airport business. Reddy said that at that time, Gautam Adani approached him and said he had a lot of interest in the airport and whether GVK group was willing to do a transaction with him. ... He (Adani) said that he will assure that we will conclude the entire transaction in one month which was very important for us. So, from that perspective whatever we did was in the interest of the company and the lenders who we had to repay and therefore, we had to close the transaction with Adani because we didn't see any light of day with the other investors, Reddy said. While leading the Opposition attack over the Adani-Hindenburg issue in Lok Sabha on Tuesday, Gandhi alleged that the government tweaked rules in favour of Adani and said the clause that no one without any prior experience would be involved in the development of airports was done away with. This rule was changed by the government and Adani was given six airports. After that India's most strategic, profitable airport, Mumbai Airport, was taken away from GVK using agencies like the CBI, ED, and was given to Adani by the Government of India, he alleged.
TMC leader Mahua Moitra tears into the NDA govt and PM Modi over Adani issue in Lok Sabha today. Moitra alleged that the ruling-party members dont allow Opposition to utter certain words like China, Pegasus, Morbi, BBC and even Modiji. She also brought up Adani without naming him and said that industrialist has managed to cheat the Prime Minister, the finance minister, and others in the ruling party. The TMC leader demanded a thorough probe into the alleged irregularities in the Adani Group.
Jatiya Party MP Mujibul Haque Chunnu yesterday asked why the government is purchasing electricity from Indias Adani Group at a higher price.
Infravision Foundation's Vinayak Chatterjee speaks on the Adani Group's infrastructure business and its significance in India's infrastructure development.
The Congress leader alleged in Lok Sabha that the government tweaked rules in favour of Adani
DMK MP Kanimozhi asked why raising allegations against the Adani Group was akin to questioning India
Shares of Adani group companies ended on a mixed note on Tuesday, with flagship Adani Enterprises rising nearly 15 per cent.
Speaking in the Lok Sabha, Motira said an investigation by the market regulator Sebi was ongoing but Adani Group put out a statement saying it had been exonerated by the highest court of the land. Which court? Which nation? she asked.
GV Sanjay Reddy, Vice Chairman of the conglomerate GVK, has strongly denied Congress MP Rahul Gandhi's comments that the Modi government arm-twisted GVK and hijacked Mumbai airport from the conglomerate and handed it to the Adani group.
'There was absolutely no pressure from the Adani group or anyone else to sell Mumbai airport,' GVK's GV Sanjay Reddy told NDTV.
Risks for banks can increase ifAdanibecomes more reliant on bank loans
While voting on the resolutions of Adani group firms, top MFs did express concerns over some proposals
Indian broadcaster New Delhi Television Ltd, part of the embattled Adani Group, said on Tuesday that profit had more than halved in the third quarter on weak advertising demand
According to Adani Green Energy, Adani Ports and Special Economic Zone, the regulatory filings noted 'certain issues against some' Adani group entities, they may be looked into
GV Sanjay Reddy, Vice Chairman of the conglomerate GVK, has strongly denied Congress MP Rahul Gandhi's comments that the Modi government arm-twisted GVK and hijacked Mumbai airport from the conglomerate and handed it to the Adani group.
The price of electricity that will be bought from the Adani Godda power plant will be Tk 24.10 per unit
Foreign banks accounted for 18% of the Groups debt as at the end of 2021-22
DMK MP Kanimozhi on Tuesday demanded that the government clarify how raising allegations against the Adani Group could be equivalent to 'questioning' India, while hitting out at the ruling dispensation for shielding corporates. Participating in the debate on Motion of Thanks to the President's Address in Lok Sabha, she said any mention of Adani meant the treasury benches would break into virulent protests. She also accused the treasury benches of turning a blind eye and providing strong support to corporates even when their wrong-doings come to the fore. ... Hindenburg Research has given reports on 15 other institutions in different countries. But no other country has said that the report was against the country. When we are talking about Adani, it becomes against the country. I am confused. We have started calling India 'Bharat', now what is the next progress? If talking against Adani is talking against India, I really want a clarification, Kanimozhi asserted. The Thoothuk
Indian banks are insulated from risks arising out of Adani Group events, says Moody's.
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Priyanka Chaturvedi says opposition wants a debate on allegations against Adani group
Although exposures to the Adani Group are larger for public sector banks than for private banks, they are smaller than 1% of total loans for most banks: Moody's
A plea has been moved in the Supreme Court seeking a gag order to prevent media from publishing allegations in connection with the Adani group firms unless market regulator Sebi verifies them
BJP member C P Joshi on Tuesday hit out at Rahul Gandhi's Bharat Jodo Yatra, saying he should first bring together the warring Congress factions in Rajasthan before thinking of uniting the nation. After three days of disruptions by the Opposition which has been pressing for a discussion on allegations of stock manipulation against the Adani Group, Lok Sabha took up the Motion of Thanks on President's Address. Joshi moved the Motion titled 'That the Members of the Lok Sabha assembled in this Session are deeply grateful to the President for the Address which she has been pleased to deliver to both Houses of Parliament assembled together on January 31, 2023'. Initiating a debate in Lok Sabha, he said through various initiatives, Prime Minister Narendra Modi had united the country spiritually and digitally and leading the country in 'Amrit Kaal', to emerge as a developed nation by 2047. The BJP refers to the period between the 75th anniversary of Independence in 2022 and the centenary
LIC has stated its total holding under equity and debt is 35,917.31 crore as on December 31, 2022 under Adani group of companies
Adani Ports, part of the embattled Adani Group, posted a lower quarterly profit in December quarter as forex losses soared
Domestic banks may become main source of funding for conglomerate if its access to int'l markets is curtailed
Adani group stocks, which have been hammered following the Hindenburg Research report alleging stock manipulation and accounting fraud by the Gautam Adani-led group, ended their decline
Investors have been worried about various banks' exposure to the group ever since late January when US-based short-seller Hindenburg Research alleged improper use of offshore tax havens and stock manipulation by the conglomerate
During a discussion on the president`s address in the Rajya Sabha, Congress leader Digvijay Singh said `Amrit Kaal` has benefitted only a bunch of people and 21 people hold assets equal to 70 crore people
The group, led by billionaire Gautam Adani, has been roiled by days of market turmoil after Hindenburg Research on Jan. 24 alleged it had engaged in stock manipulation and used tax havens. It also said the group had unsustainable debt.
Concerns have also been raised in certain quarters about LICs investments in Adani Group companies
The effort in 2019, and now in 2024, of Rahul Gandhi remains the same to stick some taint of corruption or favouritism on Narendra Modi. But there is a hitch that may blunt the narrative. Many states ruled by the Congress and other BJP rivals are also in big business with the Adani Group
Adani Group stocks recouped some of the losses suffered over the past 10 days.
Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. The opposition, however, has been calling it a big fraud. The capital markets watchdog, the Securities and Exchange Board of India (Sebi), has also been facing criticism from some opposition leaders that it has not intervened in the matter. Sebi has said it is committed to ensuring the stock market's integrity and all necessary surveillance measures are in place to address any excess
Shares of Adani Group companies rallied on Tuesday, a day after it prepaid some loans. >> For more such web stories click on the ET icon below
Rahul Gandhi attacked the Modi government over the Agnipath scheme and on the Adani Group issue. The Congress leader linked the rise of the business conglomerate and Gautam Adani to the BJP coming to power at the Centre in 2014.
-Shares in India's Adani Group rallied on Tuesday a day after it prepaid some loans, bringing relief to investors that have seen $113.6 billion wiped off.
Adani group has faced stock rout and questions after a US short seller Hindenburg Research came out with a damning report alleging financial and accounting fraud by the ports-to-energy conglomerate. Adani Group has denied all charges and threatened to sue Hindenburg.
Business Wire India EDITORS SYNOPSIS Cost optimization and operational synergies started yielding noticeable results Stronger Balance Sheet, Company remains Debt Free Cash and Cash Equivalent at the end of quarter stood at Rs. 9,454 Cr, augurs well for Companys accelerated growth plans Volume up by 7% at 13.7 MTPA Quarter on Quarter (QoQ) Net Revenue up 11% at Rs. 8,036 Cr Cost reduction QoQ by Rs 283 PMT (5%) at 5,026 PMT EBITDA on QoQ basis jumped to 829 PMT from Rs. 340 PMT PAT rose to Rs. 488 Cr as compared to Rs. 51 Cr last quarter Ambuja Cements Limited (Ambuja), the building materials arm of Adani Cement and part of the diversified Adani group, today announced the financial results for the quarter ended December 31, 2022. The Company has embarked on a transformation journey this quarter which has resulted in sizeable operational efficiencies. Additionally, synergies with the group have supported cost optimization resulting in significant improvements in most business parameters of the Company.Ambuja Cements remains committed to achieving significant size, scale and market leadership with strong emphasis on margin expansion and world class ESG standards. Operational Highlights (Consolidated): Robust Volume growth of 7% QoQ, supported by an increase in blended cement (clinker factor reduced from 60.1% to 59.5%), better route planning and higher operational synergies with its subsidiary, ACC. Market leadership strongly maintained across key markets. Kiln fuel cost reduced by 14% from Rs. 2.84 per 000 Kcal to 2.45 per 000 KCal with change in coal basket, group synergies on coal procurement.Fuel cost to be further optimized in future. Warehouse infrastructure also optimized. Direct sales improved from 44% to 50%, lead distance reduced from 263 kms to 248 kms, higher dispatches through rail. These measures are expected to further reduce logistics cost. WHRS projects at Bhatapara, Rauri, Suli have been partially commissioned and will achieve full capacity of 39 MW by Q4FY23. Marwar 14 MW has been fully commissioned. WHRS projects at Ambujanagar and Maratha of 28 MW are under implementation & progressing well. Financial Highlights: Net Revenue was up by 11% QoQ at Rs. 8,036 Cr in line with volumes. EBITDA rose by 161% at Rs. 1,138 Cr. EBITDA margin expanded from 6.2% to 14.6%. Cost reduced by Rs. 283 PMT and expected to further reduce on cost optimization and leveraging synergies from adjacency businesses of the group. Treasury Income increased by Rs. 42 Cr QoQ. Efficient Inventory management and trade receivables. During the quarter, the cement sector saw higher production & capacity utilisation on account of pickup in demand. The Company has maintained a healthy top line and leadership position in its core markets with a stronger Ambuja & ACC product portfolio. EBITDA margins expanded due to relentless focus on reduction in fuel and logistics costs by leveraging synergies with Group Companies. Business initiatives are expected to further bring down operating cost, reduce clinker factor, reduce logistics cost, improve sales of blended cement and expand EBITDA margin .We expect cement demand to further grow in coming quarters on the back of increased infrastructure activities given sharp focus on infrastructure capex in this Budget, said Mr. Ajay Kapur, CEO Ambuja Cements. He further added, The Company remains debt free with a healthy position of Cash & Cash Equivalents, which augurs very well for its journey to achieve scale and market leadership.Our focus to ramp up capacity in efficient way to ensure to be one of the lowest cost producers is on track.Ametha Integrated Unit is set to be commissioned by July 2023, which will increase Kiln capacity by 3.3 MTPA (EC approvals in hand for 2.75 MTPA) & 1 MTPA Grinding Unit.We are making good progress on our planned WHRS installation target. Unaudited Financial Results for the quarter ended December 31, 2022: Particulars UoM Consolidated Standalone Oct-Dec 2022 Jul-Sep 2022 Oct-Dec 2021 Oct-Dec 2022 Jul-Sep 2022 Oct-Dec 2021 Sales Volume (Cement and Clinker) Million Tonnes 13.7 12.8 14.2 7.7 7.1 7.2 Net Revenue Rs. Cr. 8,036 7,245 7,710 4,218 3,722 3,772 EBITDA Rs. Cr. 1,138 436 1,213 715 353 602 EBITDA Margin % 14.6% 6.2% 16.2% 17.5% 9.7% 16.4% PAT Rs. Cr. 488 51 431 369 139 253 ESG Highlights: To further strengthen ESG leadership, Ambujas Sustainability Strategy is led by its Sustainable Development 2030 plan. Significant thrust on increasing share of WHRS, AFR and renewable power. Geoclean, the sustainable and innovative waste management solutions arm was unveiled with a renewed focus and targets to increase the Thermal Substitution Rate of the plants to 30% by 2027. Water governance (8 times water positive), sustainable livelihood, women empowerment, rural infrastructure and social inclusion for the community remains highest focus area. Awards and Recognition: ESG India Leadership Awards 2022 for initiatives on Water Efficiency, curbing Greenhouse Gas Emissions and overall leadership in the Environment category. FICCI CSR Award 2020-2021 in the Women Empowerment Category for CSR programs. The National Award for Energy Excellence in Indian Cement Industry, under the Grinding Category for the measures adopted in improving energy efficiency at the Roorkee plant. The Platinum Award at the IconSWM-CE Excellence Awards 2022 on Sustainable Waste Management & Circular Economy for pre-processing and co-processing facility at Ambujanagar. The Best CSR Health Award at the Impactful CSR award of Metropolis Healthcare Heroes of India Awards 2022 for CSR efforts in Bhatapara. Ambujas Annual Integrated Report was awarded by the Institute of Chartered Accountants of India for Excellence in Financial Reporting. About Ambuja Cements Ltd Ambuja Cements Limited, part of the Adani Group, is among India's leading cement companies. Ambuja, with its subsidiary ACC Ltd. has a capacity of 67.5 million tonnes with fourteen integrated cement manufacturing plants and sixteen cement grinding units across the country. Ambuja has been recognized as Indias Most Trusted Cement Brand by TRA Research in its Brand Trust Report, 2022. Ambuja has provided hassle-free, home-building solutions with its unique sustainable development projects and environment-friendly practices since it started operations. The Company has many firsts to its credit a captive port with four terminals that has facilitated timely, cost-effective, cleaner shipments of bulk cement to its customers. To further add value to customers, the Company has launched innovative products like Ambuja Plus, Ambuja Cool Walls, Ambuja Compocem and Ambuja Kawach under the umbrella of Ambuja Certified Technology. These products not only fulfil important customer needs but also help in significantly reducing carbon footprints. Being an employee friendly workplace, Ambuja Cements has been ranked No. 1 in Best Companies to Work For survey in 2022 by Business Today in the Construction and Infrastructure sector.
The state-owned company yesterday cancelled the bid citing unavoidable reasons although the Adani Group had emerged as the lowest bidder among four private firms.
Congress leader Rahul Gandhi on Tuesday alleged that the Central government was favouring only one corporate, Adani Group
Launching a broadside against the government, the Wayanad MP said that the Modi government has been favoring the Adani group since the government came to power in 2014.
Last week, state-owned Life Insurance Corporation (LIC) said it has investments of Rs 35,917.31 crore in Adani group's debt and equity securities. The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore.
Fitch estimated that loans to all Adani group entities generally account for 0.8%-1.2% of total lending for Indian banks rated by the agency, equivalent to 7%-13% of total equity.
New Delhi: In a direct attack on Prime Minister Narendra Modi, Congress leader Rahul Gandhi on Tuesday alleged that the Central government was favouring only one corporate, Adani Group, who gets all the contracts, including the overseas ones. Earlier he used to travel in Adanis aircraft and now Adani travels with Modiji in his aircraft. Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore.
Rahul Gandhi attacks PM Modi, says rules changed to favour Adani Group
Staff Reporter After three day logjam on the Adani Group issue, the Lok Sabha today took up discussion on the Motion of Thanks to President Droupadi Murmus address to the joint sitting of both Houses of Parliament. Most opposition parties have decided to participate in Parliament proceedings from today. Congress leader Jairam Ramesh said, they Continue reading Lok Sabha: Opposition participate in discussion on motion of thanks on Presidents address
Rahul Gandhi today launched a sharp attack in parliament on Prime Minister Narendra Modi linked to billionaire Gautam Adani, whose companies are in the spotlight after US-based short-seller Hindenburg Research alleged stocks manipulation and accounting fraud by the group. The Congress leader, who recently completed a 3,500-km Bharat Jodo Yatra, accused PM Modi of helping Mr Adani's business empire across sectors, prompting emphatic rebuttals from the ruling BJP, which called his allegations wild and reckless. Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Gautam Adani, Chairman of Adani Group, re-entered the Forbes list of richest people in the world, positioning at number 17. Last week, Gautam Adani, Chairman of Adani Group had gone from worlds 3rd richest person on 17 January 2023 to not even being among the top 20. The share price of Adani Enterprises increased by 25 percent, peaking at Rs. 1,965.50. Adani Ports now costs Rs. 598.70, a 9.64 percent increase. At Rs. 1,324.45 for Adani Transmission and Rs. 399.40 for Adani Wilmar, respectively, their upper circuit limits were surpassed. After US short seller Hindenburg Research accused the Adani Group of brazen stock manipulation and accounting fraud scheme over the course of decades, the sharp decline in Adani's wealth came under fire. triggered by the report from Hindenburg Research, Adani Group equities have lost more than $118 billion in market value over the past two weeks. On February 7, Adani Ports said that on a consolidated basis, its December 2022 quarter revenue decreased by 16 percent to Rs. 1,315.54 crore from Rs. 1,567.01 crore in Q3FY22. Adani Transmission, a subsidiary of the Adani Group, announced a 77.8 percent increase in its consolidated net profit for the quarter ending in December 2022, coming in at Rs. 474.72 crore. This compares to a net profit of Rs. 267.03 crore during the same time last year. According to a previous report, Standard Chartered no longer recognises bonds issued by Adani Group entities as security for margin loans. The lender reportedly advised its private clients to increase their collateral if needed. Oppn demand PM'S response on Adani row, RS adjourned till 2 pm PIL in SC Seeks Probe On Hindenburg Report Against Adani Group Adani bonds worth USD 1 billion find buyers, says Report
Former Chief Minister V. Narayanasamy and other Congress leaders participated in a protest near the State Bank of India in Puducherry on Monday, raising slogans against the Centre
Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
It said even under a hypothetical scenario, where the wider Adani Group enters distress, exposure for Indian banks should, in itself, be manageable without adverse consequences on the banks viability ratings.
The Adani Group saga with Hindenburg Research has reached the Parliament Budget session, as Rahul Gandhi questioned Gautam Adani's link with PM Narendra Modi.
Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
MUMBAI (Reuters) -The exposure of banks to the embattled Adani Group is 'insufficient in itself' to present a substantial risk to credit profiles of these lenders, Fitch Ratings said in a note.
Congress MP Manish Tewari talked about his letter given to the Chairperson of the Security and Exchange Board of India (SEBI) over Adani row on February 07. He said that in the letter he mentioned about the regulatory and oversight mechanisms of the regulator of Indias financial and capital markets is under strain and stress.
Shares of Adani Group companies, including Adani Ports have been under pressure following a report by Hindenburg that alleged stock manipulation and fraud. The scathing attack on the group has questioned its debt levels and use of tax havens.
Loans to all Adani Group entities generally account for 0.8%1.2% of total lending for Indian banks rated by Fitch Ratings.
Adani group stocks recovered some ground on February 7 after Group chairman Gautam Adani paid off $1.1 billion - that is Rs 9,203 crore - worth of loans before time to get his shares of group companies released from lenders. The move was aimed at improving investor confidence after the battering suffered by the group shares. Adani group firms have cumulatively lost about 50% of their value since the damaging Hindenburg report was released on January 25. That report accused the owners of manipulating stock prices. Now, the Adani group has repaid over Rs 9,000 crore to lenders and this has freed 12% of the owners holding in Adani ports, 3% in Adani Green and 1.4% in Adani Transmission. As per the original plan, the payment was due only in September 2024.
Congress had called for a nationwide protest outside the SBI branches and Life Insurance Corporation (LIC) offices on Monday. Congress workers on Tuesday staged demonstrations in front of the LIC office in Delhi to draw the public's attention to the Adani issue. Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group, which has dismissed the allegations as lies. Opposition parties, including the Congress, have alleged that the meltdown in Adani Group shares is a scam involving common people's money.
New Delhi: Adani shares are witnessing a decline after the negative report of American research firm Hindenburg Research came out. After the fall in the shares of Adani Group companies, investors' confidence has once again returned to Adani's shares. For the first time after Hindenburg's negative report, Adani's shares climbed up by 20 percent. According to the report, the shares of 2 companies of Adani have touched the upper rotation. Today i.e. on Tuesday (February 7) Adani's shares saw a boom. Shares of Adani Enterprises, Adani Wilmar, Adani Green, Adani Ports, ACCCement, and Ambuja Cement have seen gains. There has been a strong jump in the shares of Adani Group today. Shares of Adani Enterprises climbed up to 20 percent in early trade itself. Till the time of writing the news, the stock of Adani Enterprises gained 235.20 points to reach Rs 1807.50. On the other hand, the shares of Adani Ports and Special Economic Zone Limited today gained 9.63 percent to reach Rs 582.25. As per the report, Adani Power shares were trading at Rs 183.40, up 0.52 percent, till the latest update. At the same time, shares of Adani Transmission were trading at Rs 1264.90 with a gain of 0.67 percent. Adani Green Energy shares have reached Rs 921.65 (+3.84%). Shares of Adani Wilmar were trading at 391.95 with a gain of 3.16 percent. At the same time, shares of Adani-owned NDTV gained 4.98 percent to Rs 225.35. Adani Wilmar shares hit the upper circuit of 5% today and Ambuja Cement shares have also touched Rs 392.40 (+3.41%). 'Palestine is better...', Why is Mehbooba Mufti angry at the central govt now? Sonia Gandhi's health suddenly deteriorated in Parliament Victoria Gowri takes oath as a judge, SC rejects BJP's connection
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New Delhi: No one knows when the time will change. After the Hindenburg report came out, the Adani Group surrounded by controversies is now back on track. In fact, after 8 days, when the stock market resumed on the 9th day, the shares of Adani Enterprises, the flagship company of Adani Group, did not have a very good start, but in about the 105th minute of the market opening, the company's stock jumped by 25 percent. During this, the company of Adani Enterprises has made a profit of about 45 thousand crores. At present, the stock of this company of Adani Group is trading at a speed of about 15 percent. Actually, Tuesday (February 7) is proving to be very auspicious for the shares of Gautam Adani and Adani Enterprises. The stock of the company has increased by 25 percent. The surprising thing is that till Monday, the company's stock had seen a decline of more than 50 percent since January 24. If we look at Tuesday's data today, the company's stock started with a slight decline at Rs 1,568.05 at 9.15 am today and after 105 minutes of trading, it gained 25 percent to reach Rs 1,965.50. This means that the company's stock had increased by Rs 393.1 from the level a day earlier. At present, i.e. at 12:05 pm, the company's stock is trading at Rs 1,803 with a gain of 15 percent. On the other hand, if we talk about the market cap of the company, then within a few minutes the company has made a profit of Rs 45 thousand crores. According to the data, a day ago the company's stock had closed at Rs 1572.40 crores and the market cap was Rs 1,79,548.69 crores. When the company's stock reached Rs 1965.50 crore today, the market capitalization of the company reached Rs 2,24,435.86 crores. This means that the company's market cap has increased by Rs 44,887.17 crore at 11 am. Rana Ayyub will be arrested! Collected crores in the name of social service and... 'Congress is a party of ascetics, Yogi is a thug', Rahul Gandhi's contentious statement PM Modi was gifted Lionel Messi jersey as gift
The Adani group company's revenue from operations increased 18 per cent to Rs 4,786 crore during the December quarter. In the same quarter of 2021, the revenue was Rs 4,072.
Investors and depositors have been worried ever since US-based short-seller Hindenburg published a report on Indian conglomerate Adani Group citing worries about the company being overleveraged and alleging improper use of offshore tax havens and stock manipulation. Here is a detailed look at banks who have clarified on their exposure to Adani Grp.
New Delhi: Rajya Sabha has been adjourned till 2.00 pm today, February 7, after Opposition Parliament members rushed to the Well of the House demanding an immediate discussion on the Adani Group issue and a response by Prime Minister Narendra Modi. Meanwhile, The Lok Sabha was also adjourned till 1:30 pm following protests by Opposition MPs. Notably, this is the fourth day in a row that the opposition's demand for a Joint Parliamentary Committee (JPC) investigation into the Adani-Hindenburg dispute has caused disruptions in the Parliament. Earlier today, Mallikarjun Kharge, the president of the Congress, criticised the BJP for a JPC investigation into the incident. We're indicating that we'll participate in the conversation. But you agree with our demand for a thorough investigation and the creation of a JPC or CJI-monitored investigation into the Adani matter. Why do you feel anxious? Why can't you do it, and what's wrong with this? They are avoiding conversation, not us, he claimed. He also accused BJP of lying regarding the functioning of Parliament. Even before we can raise a point, they adjourn the House. They simply state that the House is out of order without mentioning our notices. Did you attempt to make it work? They fabricate that we cause a commotion. BJP is a master of deception. They have received training in deceiving others. Following a report by a US-based short seller Hindenburg Research that made allegations against some companies of the Adani group, the opposition parties are calling for discussion regarding investments by LIC, public sector banks, and financial institutions in companies losing market value, endangering the savings of crores of Indians. On January 24, a report by the US-based Hindenburg Research surfaced, asserting that the Adani Group had weak economic fundamentals and was, among other things, engaged in stock manipulation and accounting fraud. The revelation sparked a sell-off of all Adani Group firms' shares. The Rajya Sabha chairman today expressed his support for the governments and citizens of Turkey and Syria, whose lives have been upended by events of such immense power. A massive earthquake of magnitude 7.8 on the Richter Scale ripped through Turkey and Syria on February 6, followed by a series of earthquakes causing enormous devastation, loss of life, and damage to infrastructure in both countries, Chairman Jagdeep Dhankhar said in his address to the Upper House today. According to media reports, about 4,000 people died. The authorities in those countries received immediate aid from our nation in the form of NDRF search and rescue teams, specially trained dogs, medical supplies, and other equipment. The governments and people of Turkey and Syria are in our thoughts and prayers, Dhankar said. PIL in SC Seeks Probe On Hindenburg Report Against Adani Group Parliament Budget Session Updates: Oppn to discuss day's strategy today Adani bonds worth USD 1 billion find buyers, says Report
Cut and bruised by Hindenburgs 106 page-report, intense misfortune has struck the Adani group. >> For more such web stories click on the ET icon below
The Sensex was down 332 points, or 0.55%, at 60,174.61, while the Nifty was 78 points, or 0.44% lower, at 17,686.20.
Mark Mobius in an interview with ET NOW shared that he doesn't have any exposure to Adani group stocks while sharing his outlook on dollar, market and his top sectoral bets. >> For more such web stories click on the ET icon below
Amid volatile trading in the market, eight Adani group firms gained while two were in the red.
The lenders to the group include big names like the State Bank of India, Bank of Baroda, the Punjab National Bank, Axis Bank, and IndusInd Bank
Adani Wilmar share price: The stock climbed 4.99 per cent to hit a day high of Rs 399.40. Nine out of 10 listed Adani Group stocks rebounded today in afternoon trade, climbing up to 25 per cent.
New Delhi, Feb 7: Amid the logjam in Parliament over the Adani-Hindenburg issue, the Congress on Tuesday said the Opposition wants the two Houses to function but the government is afraid and isnt even allowing it to raise the demand for a JPC probe. The opposition party also alleged that the government is making no effort to break the logjam in Parliament. Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a  The post Oppn Wants Parliament To Function But Modi Govt Afraid Cong On Logjam Over Adani Issue appeared first on Jammu Kashmir Latest News | Tourism | Breaking News J&K .
New Delhi: Prime Minister Narendra Modi on Tuesday asked the BJP MPs not to show any complacency and reach out to people on the ground. Upon entering for the meeting, BJP national president JP Nadda congratulated the Prime Minister. Nadda also gave praise to Finance Minister Nirmala Sitharaman for delivering the Union Budget 2023. Every Tuesday during a session of the House, the BJP holds its weekly meeting there.Addressing fellow party MPs, PM Modi lauded his government's effort to bring in a budget at a very difficult time. He said, there is something in the budget for every social class. To bring the budget to the people, the PM requested party legilsaters. According to sources quoting PM Modi, It is a tremendous obligation on behalf of the MPs to talk about the budget to their constituency and explain to them what is in the budget for them and how this budget comes in at a time when the globe is going through a major economic crisis. The Prime Minister also urged BJP MPs to keep taking part in competitions and sports to engage youth and residents in border district areas. Even if the BJP was successful in winning majorities in 2014 and 2019, and the general public is pleased with the party's efforts, however, one must maintain vigilance and avoid becoming complacent PM gave party MPs advice. On January 31 of this year, President Droupadi Murmu delivered the joint address that officially opened the Parliament's budget session. On February 1, Nirmala Sitharaman, the union's minister of finance, unveiled the budget year 202324. Due to the ongoing impasse around the Adani issue, no activity has been conducted in Parliament since that time. The administration must appear in Parliament and address the Adani stock issue, which caused disruption in both Houses, according to the opposition. A joint parliamentary committee investigation into the claims of stock manipulation against the Adani Group is demanded by opposition parties. In relation to their demand for a Joint Parliamentary Committee (JPC) to look into the Adani Issue, the opposition parties also convened a meeting on Tuesday to decide the day's strategy. However, it is expected that the opposing parties will break the impasse in the Parliament today. Following the submission of their demands, they may take part in the discussion of the President's speech; nevertheless, the ultimate decision will be made at the opposition parties' meeting on Tuesday. Budget proposals set up fiscal consolidation, inclusive growth: FM UP budget session from February 20 TN Budget 2023: Rs 2.90-La-Cr outlay, Agri, irrigation in focus
We want discussion in the Parliament on Adani Group. If after discussion, it is found that a JPC is needed in this matter, so be it. Why are they scared and running away from the discussion? They can also have an enquiry in the supervion of Chief Justice of India. They are not giving any explanation regarding the notice given by us as per the rule 267. Did they even make a single attempt to run the House? They just say that this issue is not in the order. Is this the way to run the House? People from BJP are well-trained in making false accusations and claims and they are very good at misleading people: Mallikarjun Kharge, Congress president
Congress MP Manish Tewari has now written a letter to SEBI, saying the allegations levelled by Hindenburg Research against Adani group firms must be probed. He said that a probe must be done to establish the truth. Although, he added that having a probe does not mean that Adani group is definitely guilty.
CreditSights pointed out that the country's largest lender has a provision reserves buffer of around 338 billion rupees ($4.08 billion), or around 1% of net loans
SBI's total exposure to Adani group was 0.9% of its total loan book: Chairman Dinesh Kumar Khara
Opposition parties decided to participate in the Parliament proceedings to raise the demand for a JPC into the allegations of fraud and stock manipulation against the Adani Group.
On the BSE, the scrip of Adani Enterprises jumped 15 per cent to its upper price band of Rs 1,808.25 apiece with a market capitalisation of Rs 2.06 lakh crore.
The note comes after Credit Suisse, Citigroup and Standard Chartered stated over days that they will stop accepting Adani bonds as collateral for margin loans.
Opposition parties are demanding a joint parliamentary committee probe into the allegations of stock manipulation against the Adani Group
On the BSE, the scrip of Adani Enterprises jumped 15 per cent to its upper price band of Rs 1,808.25 apiece with a market capitalisation of Rs 2.06 lakh crore.
On the BSE, the scrip of Adani Enterprises jumped 15 per cent to its upper price band of Rs 1,808.25 apiece with a market capitalisation of Rs 2.06 lakh crore.
Most of SBI's exposure to the Adani Group was secured by completed and cash-generating assets while the rest of the exposure was to on-schedule, under-construction projects, said CreditSights.
Adani Ports to clock a 12.4 per cent year-on-year (YoY) jump in net profit at Rs 1,661.90 crore for the December quarter against Rs 1,478.80 crore in the same quarter last year, a brokerage said.
B&K Securities has maintained its buy rating with a target price of Rs 920, implying a 70 per cent upside from its previous close.
Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group, which has dismissed the allegations as lies.
Research firm CreditSights on Tuesday said that it does not see the loan exposure to Adani Group stocks as an issue for the State Bank of India (SBI) given its strong general provision reserves buffer. The country's largest lender State Bank of India (SBI) has an exposure of Rs 27,000 crore
The group's valuation has plunged after a short-seller raised fraud allegations. What's the way out?
Sensex Nifty flat ahead of RBIs policy decision Adani Group stocks rebound
Adjournments have dominated proceedings in both Houses so far as the Opposition presses for a discussion and inquiry into the allegation levelled against the Adani Group.
Amid the logjam in Parliament over the Adani-Hindenburg issue, the Congress on Tuesday said the Opposition wants the two Houses to function but the government is afraid and isn't even allowing it to raise the demand for a JPC probe. The opposition party also alleged that the government is making o effort to break the logjam in Parliament. Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group, which has dismissed the allegations as lies. The Opposition has been demanding a joint parliamentary committee (JPC) probe or a Supreme Court-monitored investigation into the allegations. Today Opposition parties meet at 10 am to decide the day's strategy. No effort from the government to break the logjam caused by its refusal to allow Opposition to even raise its demand for a JPC into the PM-linked Adan
New Delhi: The Parliamentary Budget Session began on January 31 and will go through April 6 with 27 sittings dispersed over 66 days and the customary recess. Nirmala Sitharaman, the union's minister of finance, delivered the 2023 budget to lawmakers on Wednesday. To decide the day's approach about their demand for a Joint Parliamentary Committee (JPC) into the Adani Issue, the opposition parties will meet on Tuesday at 10 AM. Given that it is the last complete budget of the BJP-led NDA government's second term before the 2024 general elections, this budget is crucial both economically and politically. Meetings with floor leaders of opposition parties were held on Monday by Minister of State for Parliamentary Affairs Arjun Ram Meghwal and Minister of Union Parliamentary Affairs Pralhad Joshi in an effort to break the impasse after both Houses were adjourned for the day on Monday as well due to the Adani controversy. In response to the Government's refusal to even allow the opposition to express its demand for a JPC into the PM-linked Adani MahaMegaScam, Congress leader Jairam Ramesh announced via Twitter that the opposition parties would meet on Tuesday to determine the day's strategy. However, it is anticipated that the opposing parties will break the impasse in the Parliament today. Following the submission of their demands, they may take part in the discussion of the President's speech; nevertheless, the ultimate decision will be made at the opposition parties' meeting on Tuesday. Digvijay Singh, a prominent member of the Congress, declared on Monday that the party would not back down unless Prime Minister Narendra Modi agreed to allow a debate in Parliament about the Hindenburg Research report critical of the Adani Group. Both Houses of Congress were adjourned during the budget session as a result of the constant pressure Congress puts on the government in Parliament. Opposition demands JPC investigation in Adani row Budget Session: Opp members give suspension notice over price rise ADANI issue likely to rock Parliament proceedings for 2nd day
Opposition demands probe against Adani Group India sends relief to earthquakehit Turkey more
Adani group of companies, which in recent weeks has seen a brutal selloff in its bonds and shares after being targetted by a US short-seller, is still eligible for inclusion in JPMorgan's influential bond indexes, the bank said in a note.
Bangladesh has no concerns about Adani Group's ability to supply power from a plant in Jharkhand, said Tawfiq-e-Elahi Chowdhury, Adviser to the country's Prime Minister on energy.
Given the hydrogen connection, it's ironic that Hindenburg Research released a long report, accusing the Adani group of financial manipulation, observes Devangshu Datta.
Amid the ongoing controversy about the Adani group over allegations of financial irregularities and market manipulation, over 200 Congress workers were detained in Guwahati on Monday for protesting in front of the Life Insurance Corporation (LIC) office.
LIC union appeals to Congress not to mislead public
Six of the groups 10 stocks slid Monday, increasing losses since US short-seller Hindenburg Research made fraud allegations against the conglomerate on January 24 to about $117 billion.
Special Correspondent Panaji The Goa Pradesh Congress Committee (GPCC) and its frontal organisations staged a protest on Monday over the Adani Group controversy, alleging financial irregularities and market manipulation. The protests were held outside the State Bank of India, in Margao and Life Insurance Corporation, in Panaji in response to the nationwide protest call given 
Is Vodafone Idea out of the woods? Is Air India turning the corner under new management? Is the selling in bank stocks after Adani group fallout overdone? What are lab-grown diamonds? All answers here
The meltdown in the Adani Group shares since Hindenburg Researchs short-selling report is spurring a flurry of bets through option markets that can give traders some clues about what may come next.
Mondays share fall comes as global financial agencies are cutting their dealing with the Group.
Adani Group bonds rallied on Monday, continuing Friday's momentum after the group's promoters said they will be repaying loans worth $1.11 billion early to release pledges on shares, ahead of their maturity in September 2024.
Mumbai: Gautam Adani and his family have repaid 9,250 crore ($1.1 billion) of debt backed by shares early as the cement-to-coal conglomerate sought to soothe investor nerves. This follows a $110 billion erasure of equity value after the Hindenburg report was released on January 24.This is in continuation of promoters' assurance to prepay all share-backed financing, the Adani Group said.These loans against shares (LAS) were taken by promoter entities and backed by share pledges. ET was first to report Monday morning that about 8,000 crore of LAS was being prepaid by the Adani family, hours before a formal announcement. 97672519 Adani Ports Stock Jumps 9.46% Some of the debt from lenders such as Credit Suisse, JP Morgan, Citi, Barclays, JM Financial and mutual funds was due in May. A part of this had already been rolled over to September while other repayments were due this calendar year-end as well as January 2024.In light of recent market volatility and in continuation of the promoters' commitment to reduce the overall promoter leverage backed by Adani listed company shares, we are pleased to inform that promoters have paid the amounts to prepay $1,114 million ahead of its maturity of Sep 2024, an Adani spokesperson said in a press release.About 168 million Adani Ports and Special Economic Zone (APSEZ) shares, representing 12% of the total promoters' holding, were freed from pledges. The total promoter pledge had been 18-20% before Monday. The promoter holding in APSEZ at the end of December 2022 was 65.13%. The release triggered a 9.46% gain in the counter, which closed at Rs 546 on the BSE. Its market cap rose by Rs 10,195 crore to Rs 1.18 lakh crore.The promoters are believed to have unwound some existing investments, and availed finance facilities and other shareholder positions in addition to tapping the family office to organise funds. The family has substantial real estate assets in Mumbai and Ahmedabad.The plan is within 30-45 days, the LAS portfolio will be zero, said an executive in the know. They want to prove within a quarter they have the ability to prepay Rs 20,000 crore of loans and LAS, even at the expense of curtailing short-term growth to regain investor faith.In addition, about 3% (27.56 million shares) of Adani Green Energy and 1.4% (11.77 million shares) of promoter pledges in Adani Transmission Ltd are getting released through the advance payment.According to NSE data, at the end of December 2022, the promoter stake in Adani Transmission was 74.19%, with 6.92% being pledged. Similarly, Adani family entities as promoters owned 60.75% of Adani Green, with 4.36% being pledged. However, despite the news of reduced share pledges, prices of Adani Transmission and Adani Green hit the lower circuit barrier of 10% and 5%, respectively, on Monday.Lower stock pledge and bond buyback in the next couple of days will instill confidence in investors, said Arun Kejriwal, founder, Kejriwal Research & Investment Services. The real confidence for Adani Group will emerge if all listed companies in their upcoming earnings will declare their debt and maturity pattern as well as declare their plan to prune leverage on their balance sheet in the next 12-18 months.Profitmart Securities head of research Avinnash Gorakssakar said, Investors would be closely looking in the next three-six months how the Adani Group will pursue its aggressive growth on infrastructure and green hydrogen projects.JP Morgan analysts Varun Ahuja and Aman Aggarwal said in a February 3 report: Our concerns are more at promoter-level uncertainty (shareholder structure, unknown leverage if any, etc.) rather than opco level.As per calculations, based on management guidance, promoter-level loans amount to $1.8 billion and aggregating all share pledges at their various listed entities, we arrive at $5.2 billion of pledged stake value, said Ahuja and Aggarwal in the report. Also, we note that they have $5 billion of Holcim India related debt, of which $1.0-1.5 billion is margin financing, per Debtwire, while the rest is senior debt. The cement asset had over $1 billion cash as of Sep-22 and annual EBITDA of ~$700m-800m... hence pro forma net leverage under 3.0x as well.Investors and rating agencies are worried that pressure could intensify and banks could ask Adani Group companies to start part-repaying some of the near-term debt to deleverage. Bond markets panicked last week after banks such as Citi and Credit Suisse stopped accepting Adani securities as collateral, sparking fears of a domino effect.Adani Green Energy's 4.375% bond maturing in August 2024 was trading at 73.14 cents on the dollar with a yield of 27.30% on Monday at 8:14 pm India time, Bloomberg data showed. APSEZ's 3.1% bond maturing in February 2031 has been trading at 68.18 cents on the dollar with a yield of 8.93%. Adani Renewable Energy's 4.625% bond due in October 2039 was trading at 73.09 cents on the dollar with a yield of 7.64%.According to CLSA, the Adani Group has foreign currency debt of $7.5 billion and $1.9 billion of maturity is scheduled in the second half of 2024. Of this, two-thirds is related to Adani Green Energy.
Per current index rules, Adani Group companies remain eligible for inclusion in CEMBI, JACI and JESG indices, JP Morgan said in the note.
State-owned Madhyanchal Vidyut Vitran Nigam Limited abruptly cancelled the tender that included the Adani Groups bid for the supply of around 7.5 million smart meters estimated at 5,400 crore
Adani Group chairman Gautam Adani has paid off $1.1 billion (Rs 9,203 crore) worth of loans ahead of their scheduled payment to release pledged shares in three listed companies.
Oppositions stalls parliament proceedings for third day Staff Reporter Both Houses of Parliament adjourned for the day on Monday following oppositions protest over the Adani Group issue. This was the third consecutive day when the Lok Sabha and Rajya Sabha could not transact any substantive business due to disruption by the opposition parties. In Lok Continue reading Adani issue continue to rock parliament
Since then, various Adani Group stocks have lost 16 per cent (in case of ACC) to 60 per cent of their market capitalisation or m-cap (in case of Adani Total Gas)
Opposition groups push Modi to investigate allegations by US short-seller as firm suffers market rout The crisis engulfing the Adani Group has intensified as hundreds of members of Indias opposition parties took to the streets to press for an investigation into allegations by a US short-seller against Indias second-biggest business group which triggered its market rout . The Adani Group said on Monday that its major investors, known in India as promoters, had pledged to prepay $1.1bn (916m) in share-backed loans due for repayment by September 2024. The repayments include shares in Adanis ports business, Adani Green Energy and Adani Transmission. Continue reading...
The recent reports of Hindenburg report landed Adani Group in soup. After cancellation FPO, the Adani Group is now facing the wrath of opposition parties in India. Congress staged a nationwide protest against Centre alleging it of helping its close friend. Opposition leaders staged demonstrations outside LIC Offices and SBI branches in parts of India. Opposition up in arms against the Adani Group and staged protests at Parliament premises. They demanded Joint Parliamentary Committee and SC monitored probe into the matter.
Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report. Forex traders said the Hindenburg Research report has soured market mood towards Adani Group stocks, leading to a sharp decline in the stock prices. At the end of Monday's trading session, six of the 10 Adani group companies ended in the negative territory, with Adani Transmission slipping 10 per cent, while the shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar declined 5 per cent each. Shares of Adani Enterprises closed for the day at Rs 1,572.40, down 0.74 per cent over its previous close. Four of the Adani group companies defied the trend and settled in the positive territory with Adani Ports and Special Economic Zone closing higher by 9.46 per cent, Ambuja Cements (up 1.54 per cent), ACC (up 2.24 per cent) and NDTV (up 1.37 per cent). The A
Mumbai/New Delhi: Stocks of Adani group companies ended up mixed on Monday, as weekend assurances by the government and regulators and promoters plan to repay share-backed loans eased selling pressure in some of them
The Adani group stocks have shed Rs 9.4 trillion in market value since June 24
LIC SBI free to take their decisions Nirmala Sitharaman on Adani Group row
Raipur: The ruling Congress in Chhattisgarh on Monday staged protests in front of the Life Insurance Corporation (LIC) and State Bank of India (SBI) offices in all the district headquarters across the state in connection with the allegations against the Gautam Adani group and the resultant stock market upheaval. Adani group stocks have taken a Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
Bank of Barodas exposure to the Adani group is a fourth of what Reserve Bank of India permits to a group of connected companies
Congress holds nation-wide protests outside LIC and SBI offices
With the right policy, income from short selling Adani Group stocks and bonds could have accrued to Indians rather than the Americans
The report by the US-based research group, Hindenburg Research, alleging stock price manipulation and accounting fraud by the Adani Group of Companies, needs to be properly investigated to establish the veracity of these assertions or otherwise so that the people of India and especially the investor community know the unvarnished truth, Congress leader Manish Tewari wrote in the letter.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
Today in the country, we are facing a huge crisis. We can definitely call it a crisis as the fall of Adani Group's shares and the value of the company will impact the country's economy, Kavitha said . The Adani Group is battling allegations of fraudulent transactions and share price manipulation raised by US-based activist short-seller Hindenburg Research, leading to a steep fall in the prices of its shares.
It exposes the emptiness of the green bond promise, says the valuation guru
Former cricketer Virender Sehwag has described the turmoil in Indias capital markets as a hit job by the West in a widely-shared tweet.Shares of Adani group firms have fallen sharply some have started gaining marginally now after a report by a US-based short seller alleged corporate wrongdoing, which... The post Headlines: Virender Sehwag Slams Hit Job On Markets Amid Adani-Hindenburg Row appeared first on HW News English .
'I don't think it's right for me go every two weeks and tell them which company to choose. They are taking professional board-driven calls,' says FM on exposure of LIC, SBI to Adani Group
Government and opposition trade charges on parliamentary conduct and conventions over a day of uproar and adjournments in both Houses
Country needs to know the power behind the billionaire, says Congress as it intensifies nationwide campaign against Adani Group rout in markets
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The fresh public interest litigation (PIL), filed by advocate Vishal 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 seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the artificial crashing of Adani Group's stock value in the market.
India had overtaken Taiwan in August to claim the second spot
Bangladesh has no concerns about Adani Group's ability to supply power from a plant in Jharkhand, said Tawfiq-e-Elahi Chowdhury, adviser to the country's prime minister on energy. Speaking on sidelines of the India Energy Week in Bengaluru, Chowdhury, who holds ministerial rank, said talks with Adani on the supply are private and can't be made public. Electricity will come very timely. Summer peak is coming and that 600 MW of Adani Power is very helpful, he said.
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.
Adani Group, on Monday, said the promoters will pre-pay $1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. This is in continuation of promoters' assurance to pre-pay all share-backed financing, it said. This statement assumes significance in view of the allegations of fraud and stock manipulation by a short-seller against the Adani Group, which led to a steep fall in the share prices of group firms. In light of the recent market volatility and in continuation of promoters commitment to reduce the overall promoter leverage backed by Adani listed companies shares, we are pleased to inform that promoters have posted the amounts to pre-pay $1,114 million ahead of its maturity of September 2024, the statement said. On pre-payment, 168.27 million shares of Adani Ports & Special Economic Zones representing 12 per cent of the promoter's holding will be released. In the case of Adani Green, 27.56 million shares representing 3 per cent of the promoter's holding will be released. Also, 11.77 million shares of Adani Transmission representing 1.4 per cent of the promoter's holding will be freed.
Stocks related to the banking sector were trading higher, as the Reserve Bank of India (RBI) has said Indias banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders amid concerns over banks exposure to the embattled Adani Group. Bank of Baroda is currently trading at Rs. 168.20, up
Red-hot Taiwanese market, Adani rout erode India's weighting
Benchmark Sensex dropped 334 points on Monday due to intense selling pressure in metal and power stocks as FII outflows dampened investor sentiment. Besides, a sharp decline in the rupee against the US dollar also put pressure on domestic equities, traders said. After losing nearly 500 points, the 30-share BSE index recovered some lost ground to settle at 334.98 points or 0.55 per cent lower at 60,506.90. During the session, the index touched its intra-day low of 60,345.61. The broader NSE Nifty dipped 89.45 points or 0.50 per cent to end at 17,764.60 as 34 of its stocks dropped. Tata Steel was the biggest loser in the Sensex pack, falling 2.08 per cent, followed by Kotak Bank, Infosys, ICICI Bank, M&M, Ultra Cement and Tata Motors. On the other hand, IndusInd Bank, Bajaj Finance, PowerGrid and ITC were among the major winners. Adani group stocks, except for Adani Ports, continued to decline due to weak investor sentiment after US-based activist short-seller Hindenburg Research made a litany of allegations. Adani Ports and Special Economic Zones Ltd gained 9.46 per cent after the group said that the promoters will pre-pay $1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. In the broader market, the BSE midcap gauge rose 0.75 per cent and smallcap index gained 0.49 per cent. Elsewhere in Asia, equity markets in Shanghai and Hong Kong ended in the red, while Tokyo and Seoul settled higher. Equity exchanges in Europe were trading lower in mid-session deals. Markets in the US ended in the negative territory on Friday. International oil benchmark Brent crude rose 0.09 per cent to $80.01 per barrel. Foreign Institutional Investors (FIIs) offloaded shares worth Rs 932.44 crore on Friday, according to exchange data.
New Delhi, Feb 6 Congress MP Rahul Gandhi on Monday launched a blistering attack on Prime Minister Narendra Modi over the Adani Group issue, and asserted that the latter will try his best to not allow a discussion over the same in the Parliament. I have been saying about Hum Do, Hamare Do since last 
Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report.
Among its renewable energy projects, the Adani group's massive planned investments in green hydrogen would be the easiest to scale back given the government's benign targets
There should be a discussion about the Adani Group, which has been accused of fraud and stock manipulation, Rahul Gandhi said on Monday. #AdaniGroup #RahulGandhi #HindenburgReport #AdaniStocks #HindenburgReport #HWNews #Adani #JPC #NarendraModi #AdaniEnterprises #GautamAdani #HindenburgResearch #Congress #AdaniShares #AdaniPorts #Hindenburg The post Centre Is Scared: Rahul Gandhi on Adani Row, Amid Nation Wide Protest By Congress Party appeared first on HW News English .
The Congress on Monday staged protests across Madhya Pradesh for a joint parliamentary committee (JPC) probe into allegations of stock manipulation against Adani Group and demanded the resignation of Union Finance Minister Nirmala Sitharaman. In Bhopal, an agitation was organised in front of the office of Life Insurance Corporation (LIC) in GTB Complex by Congress leaders led by district unit chief Kailash Mishra. Congress workers raised slogans against the Adani Group and the BJP-led Central government. We are protesting for a JPC probe into allegations of irregularities against Adani. These irregularities occurred under Finance Minister Nirmala Sitharaman, so she should resign immediately, Mishra told PTI. A demonstration was also held at the state Congress headquarters by the National Students Union of India (NSUI). Adani Group stocks have taken a beating on the bourses after the US short-seller Hindenburg Research made a litany of allegations last fortnight in its report, ...
Under the bid, the Adani Group was supposed to supply around 7.5 million smart meters to the power distribution company. The Adani Group had submitted the lowest bid of Rs 10,000 per smart meter.
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DMK leader and Rajya Sabha MP Tiruchi Siva protested with Opposition MPs at the Gandhi statue on Parliament premises on February 06 in Delhi. They have demanded a Joint Parliamentary Committee (JPC) or Supreme Court-monitored probe into the Adani Group issue. UK-based research agency Hindenburg accused Adani Group of stock manipulation and accounting fraud. However, Adani Group refuted the claims citing the report as Malicious and mischievous.
New Delhi: Adani Group on Monday said that the promoters will pre-pay USD 1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy, and Adani Transmission, a statement said. This is in continuation of Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
The banks exposure to Adani Group not a dampener, they say
(Reuters) India's Adani Group on Monday said shares related to some group companies will be released following the pre-payment of $1.11 billion of loans ahead of their maturity in 2024
New Delhi: Rajya Sabha proceedings were adjourned for the day on Monday without transacting any business as a united Opposition relentlessly demanded holding a discussion on the allegations of fraud against the Adani Group. As soon as the Upper House reassembled for the afternoon session, having been adjourned earlier in the day till 2 pm, Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
Madhyanchal Vidyut Vitran Nigam (MVVNL), Uttar Pradesh's power utility cancelled Adani Group's bid for the supply of 7.5 million smart metres to the power distribution company (discom) worth about Rs 5,400 crore. The Adani Group had submitted a bid of Rs 10,000 per metre, reportedly a low bid. But, it was deemed high by MVVNL. Under the standing billing guideline of the Rural Electrification Corporation, the price of the metres had been fixed at Rs 6,000 per unit. The combined bid value for over 25 million smart metres was estimated at Rs 25,000 crore. MVVNL, in a notification on February 4 said, The tender has been cancelled due to unavoidable reasons. Reportedly, GMR, L&T and Intellismart Infra were also in the play to be part of the project. If any of the four companies had won the contract, they would have sublet the manufacturing as none of them is manufacturers of smart metres. Now, MVVNL is likely to opt for a fresh tendering process. Other UP discoms could follow suit.
Public Health Engineering Department (PHED) Minister Mahesh Joshi, Food and Civil Supplies Minister Pratap Singh Khachariawas and other leaders participated in the protest. Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation, against the Gautam Adani-led group, which has dismissed the allegations as lies.
Reports say Crowe UK has replaced the Big Four firm as the auditor of UK entities including Adani Energy Holdings Ltd after the Indian firm bought them in 2021
India's Adani Group today said shares related to some group companies will be released following the pre-payment of $1.11 billion of loans ahead of their maturity in 2024 while denying media reports that said the conglomerate was planning to cut back its capital spending.
The crisis engulfing the Adani group intensified on Monday as dozens of members India's main opposition party were detained by police during protests, and parliament was suspended again due to disruptions over the saga.
Virender Sehwag backed the Adani group in a twitter post saying that the Hindenburg report was a carefully thought out conspiracy. The former Indian cricketer was trolled by social media users for his views.
They also slammed the administration over the ongoing arbitrary eviction drive in the Union territory, saying it was great injustice with landless tillers, small, marginal farmers and the common people
As a part of Congress nationwide protest against the Adani Group row, members of Karnataka Congress staged protest in Hyderabad. The agitators demanded Joint Parliamentary Committee probe in the issue. The Congress alleged that Centre is using common peoples money to support their closest friends. The Opposition is taking this line of argument, that the exposure of LIC and public
A united Opposition relentlessly demanded discussing the allegations of fraud against the Adani Group. The Opposition parties also held a meeting to discuss their strategy and agreed that there should a discussion in Parliament on the issue and a Joint Parliamentary Committee should investigate the matter.
Adani Group on Monday said that the promoters will pre-pay USD 1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. This is in continuation of promoters' assurance to pre-pay all share-backed financing, it said. This statement assumes significance in view of the allegations of fraud and stock manipulation by a short-seller against the Adani Group, which led to a steep fall in the share prices of group firms. In light of the recent market volatility and in continuation of promoters commitment to reduce the overall promoter leverage backed by Adani listed companies shares, we are pleased to inform that promoters have posted the amounts to pre-pay USD 1,114 million ahead of its maturity of September 2024, the statement said. On pre-payment, 168.27 million shares of Adani Ports & Special Economic Zones ...
Adani group stocks, except for Adani Ports, continued to decline due to weak investor sentiment after U.S.-based activist short-seller Hindenburg Research made a litany of allegations.
Hyderabad: Bharata Rashtra Samithi (BRS) MLC Kalvakuntla Kavitha on Monday said that a joint parliamentary committee should be formed toinvestigate the fall of the Adani groups stock prices, so that it does impact the Indian Economy. Kavitha, while speaking to the media at the Telangana Legislative Council premises said, Today in the country we are Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
Jharkhand Mukti Morcha leader Dr Mahua Maji on February 06 questioned Union Government over shielding Adani Group.
The promoter's early payment will help release 168.27 million shares of Adani Ports & Special Economic Zone, 11.77 million shares of Adani Transmission, and 27.56 million shares of Adani Green Energy
He stressed that at this juncture there should be a detailed discussion in the Parliament about the Adani Group, which has been accused of fraud and stock manipulation by a US-based short seller Hindenburg Research.
Adani group said it would release 27.56 million Adani Green Energy shares, representing 3 per cent of promoters' holding in the company.
Adani Group on Monday said that the promoters will pre-pay $1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports and Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. This is in continuation of promoters' assurance to pre-pay all share-backed financing, it said.
Investors have been worried about various banks' exposure to the Adani Group ever since U.S.-based short-seller Hindenburg Research alleged improper use of offshore tax havens and stock manipulation
Congress MP Rahul Gandhi on Monday said the Narendra Modi-led government was doing its best to ensure that no discussion takes place in Parliament regarding the Adani Group's rout. Modi ji will do his best to avert a discussion on Adani in Parliament. There is a reason for it and you know that. There should be a discussion on Adani issue and the truth should come out. The lakhs and crores of corruption that has taken place should come out. The country should know what is the power behind Adani, Gandhi told reporters.
Congress leader K C Venugopal on February 06 said that Union Government wants to hide everything related to Adani Group issue.
Centre is scared Rahul Gandhi wants discussions on Adani Group
Telangana Budget 2023 Telangana Finance Minister T. Harish Rao on Monday presented a tax-free budget of Rs 2.90 lakh crore for 2023-24, up from Rs 2.56 lakh crore last year. By arrangement Telangana's Finance Minister T. Harish Rao on Monday alleged that the Union government is creating hurdles in the development of the state. Presenting the State Budget for 2023-24 in the Assembly, he said while Telangana has been achieving significant development through its own efforts, the Union government has been creating hurdles after hurdles. He slammed the Union government for reducing the state's borrowing limit and said that in order to complete the irrigation projects within the shortest time, Telangana government resorted to off-budget borrowings well within the limits of FRBM Act.During the current year, based on our economic performance and borrowing limits, an amount of Rs 53,970 crore has been included in the Budget as borrowings. But the Central government unilaterally imposed a cut of Rs 15,033 crore and reduced our borrowing limits to Rs 38,937 crore. This decision of the Centre is totally unjustified and uncalled for. This kind of cuts are against the spirit of federalism and have eroded the rights of the States, he said. Harish Rao alleged that the Centre has broken the tradition of implementing in toto the recommendations of the Finance Commission. The 15th Finance Commission recommended a special grant of Rs.723 crore to Telangana and an amount of Rs 171 crore towards nutrition to ensure that the tax devolution should not be less than the amount of devolution received by the State in 2019-20. By not accepting these recommendations, the Central government denied Telangana of its due share in the Finance Commission grants. He said in the history Aof the country, no government has ignored the recommendations of the Finance Commission in such a blatant manner. He termed as totally undemocratic, the Centre's indifference in the implementation of many provisions in the Parliament enacted Andhra Pradesh Reorganization Act. Harish Rao pointed out that A.P. Reorganization Act mandates the Central government to provide tax concessions to the successor States in order to ensure industrialization and economic growth in the two States. By providing only nominal concessions, the Central government has ignored the interests of both the States.Under section 94(2) of the A.P.Reorganization Act, the Central government shall provide funds for the development of backward areas. Though the Centre is supposed to release a grant of Rs 450 crore per annum, grants for three years amounting to Rs 1,350 crore have not been released. The state Finance Minister told the Assembly that NITI Aayog has recommended that a grant of Rs 19,205 crore for Mission Bhagiratha and Rs 5,000 crore for Mission Kakatiya may be released by the Centre to Telangana. But the Central government has not released even one paise so far, he claimed.The 13th Schedule of the A.P.Reorganization Act has mandated the Centre to take necessary steps and to establish institutions for the sustained development of the State in the next 10 years. The Centre by its negligent attitude has not resolved many issues so far.Establishment of a Rail Coach Factory at Kazipet, Bayyaram Steel Plant and Girijan University have been specifically mentioned in the Reorganization Act. These mandates have not been fulfilled even after eight and a half years. In addition, the ITIR sanctioned to Telangana has been shelved.Another glaring instance of discrimination to Telangana is the order issued by the Union Power Ministry in August 2022. In this order, Telangana government has been directed to pay pending dues of TS DISCOMs amounting to Rs 3,441.78 crore as principal and Rs 3,315.14 crore as late payment surcharge, totaling to Rs 6,756.92 crore to A.P.Genco within 30 days. Though Telangana has been pleading with the Central government regarding dues amounting to Rs.17,828 crore payable by Andhra Pradesh to Telangana Power Utilities, the request has been ignored without any reason. Left with no option, the Telangana government had to approach the Court of Law, he added. READ:Adani Group scam must be discussed in joint parl committee: KCR at BRS rally
Indias weighting in MSCIs emerging-market benchmark has dropped after the brutal selloff in Adani Groups stocks. >> For more such web stories click on the ET icon below
The move will reduce promoters leverage in APSEZ, ATL and AGEL
On pre-payment, 168.27 million shares of Adani Ports & Special Economic Zones representing 12 per cent of the promoter's holding will be released.
Adani Group promoters to prepay loans worth million Heres why
These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission.
The State Bank of India, IndusInd Bank, Punjab National Bank have all tried to allay concerns regarding their exposure to group, while the Reserve Bank of India (RBI) has said that the Indian banking system remains resilient and stable
JAMMU, Feb 6: The Jammu and Kashmir Congress on Monday protested in support of the partys demand for a joint parliamentary committee (JPC) probe into the allegations of irregularities against the Adani group, and clashed with police at some places. They also slammed the administration over the ongoing arbitrary eviction drive in the Union territory, saying it was great injustice with landless tillers, small, marginal farmers and the common people. In Jammu, hundreds of Congress workers, led by senior party  The post J&K Congress Holds Protests Against BJP, Adani Group appeared first on Jammu Kashmir Latest News | Tourism | Breaking News J&K .
Move follows Hindenburg Research accusing Adani Group of improper use of offshore tax havens and stock manipulation
Damodaran said Hindenburg should be complimented for its legwork, but its critique of the Adani Group rests on a mix of serious contentions, circumstantial evidence and questionable claims.
India's Adani Group is in talks to prepay all loans backed by pledged shares, a spokesperson told Reuters on Monday
With the prepayments, pledged shares in Adani Ports and SEZ, Adani Transmission, and Adani Green Energy will be released, the group said in a statement.
Chairman Jagdeep Dhankhar, however, did not allow their request, asking them to led the listed business conclude. With the Opposition parties unrelenting, he adjourned the House for the day.
27.56 million shares of Adani Green Energy shall be released, representing 3% of promoters' holding
Quant Mutual Fund had investments in the Adani Group stocks as it follows a quant based investment strategy. Quant Mutual Fund follows the VLRT framework.
Opposition MPs on Monday held a protest in front of Gandhi statue in Parliament complex and stalled proceedings in both houses while demanding a Joint Parliamentary Committee probe or a Supreme Court-monitored investigation into the Adani issue. Both the Lok Sabha and Rajya Sabha were adjourned till 2 PM after opposition members protested in both houses seeking a discussion on the matter. Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The opposition parties have alleged that the meltdown in Adani Group shares is a scam that involves common people's money as public sector LIC and SBI have invested in them. The Adani group has maintained it complies with all laws and disclosure requirements. Only a JPC or SC-monitored investigation under the CJI can bring out the truth about 'forced' investments
The bank may also require raising capital with its Common Tier I CAR at 11% (vs min of 7%), but management may look at stake sales in subsidiaries to mobilise capital first, it said.Jefferies has SBI among its sector top picks with a Buy rating and a target price of Rs 760, representing an upside of 44%. In an upside scenario, the target price is set at Rs 860, with a potential upside of 61%
The founder and chairman of Adani Group, Gautam Adani who is continuously losing net worth over the past few days has emerged as todays top loser as stocks of his firms dipped further. On Monday, most of the Adani Groups stocks were locked in their lower circuits. While the shares of Adani Power and Adani Get the latest updates in Hyderabad City News , Technology , Entertainment , Sports , Politics and Top Stories on WhatsApp & Telegram by subscribing to our channels. You can also download our app for Android and iOS .
While not unprecedented, the move comes after a scathing attack by US short-seller Hindenburg Research on the Adani Group, alleging improper use of offshore tax havens and stock manipulation. The conglomerate denies all allegations.
Congress general secretary Randeep Surjewala has claimed that LIC and SBI have lost over Rs 78,000 crore in market capitalisation of their shares due to exposure in Adani Group and asked why the Union finance minister, RBI, SEBI, and probe agencies are silent over the issue. The loan exposure of SBI and Invest Value decline of LIC in Adani Group is in addition thereto. Yet RBI, SEBI, ED, SFIO, CBI, and the FM remain on mute mode, Surjewala wrote.
Opposition MPs gathered in protest at the Gandhi statue on Parliament premises on February 06 in Delhi. They have demanded a Joint Parliamentary Committee (JPC) or Supreme Court-monitored probe into Adani Group issue. UK-based research agency Hindenburg accused Adani Group of stock manipulation and accounting fraud. However, Adani Group refuted the claims citing the report as Malicious and mischievous.
Former Congress president Sonia Gandhi on Monday said Union Budget 2023-24 is a silent strike on the poor by the Modi government and hits at the heart of all far-reaching rights-based legislation enacted during the UPA rule. In an opinion piece in The Indian Express, Gandhi also made an apparent reference to the allegations against the Adani Group, saying Prime Minister Narendra Modi and his ministers are resorting to loud chants of 'vishwa guru' and 'Amrit Kaal', even as financial scandals erupt over his favourite and favoured businessman. The prime minister's policy to benefit his few rich friends at the expense of poor and middle-class Indians has led to continuous disasters from demonetisation to a badly-designed GST hurting small businesses, to the failed attempt to bring about the three farm laws and the subsequent neglect of agriculture, Gandhi alleged. Destructive privatisation has handed over priceless national assets to selected private hands cheaply, leading to
Indonesian President Joko Widodo urged on Monday his country's financial regulator to strengthen supervision on capital markets in the wake of the crisis at India's Adani Group.
In an opinion piece in The Indian Express, Gandhi also made an apparent reference to the allegations against the Adani Group, saying Prime Minister Narendra Modi and his ministers are resorting to loud chants of #39;vishwa guru#39; and #39;Amrit Kaal#39;, even as financial scandals erupt over his favourite and favoured businessman.
New Delhi, Feb 6: Former Congress president Sonia Gandhi on Monday said Union Budget 2023-24 is a silent strike on the poor by the Modi government and hits at the heart of all far-reaching rights-based legislation enacted during the UPA rule. In an opinion piece in The Indian Express, Gandhi also made an apparent reference to the allegations against the Adani Group, saying Prime Minister Narendra Modi and his ministers are resorting to loud chants of vishwa guru and Amrit  The post Budget A Silent Strike On Poor By Modi Govt: Sonia Gandhi appeared first on Jammu Kashmir Latest News | Tourism | Breaking News J&K .
Opposition parties continue to press for JPC probe into Adani Group-Hindenburg saga
Puthiya Tamilagam chief and MLA Krishnasamy on Monday spoke on the Union Budget and the ongoing Adani issue. The Adani Group, which is currently facing a downfall, will also tarnish India's image besides its own, he said.
Lok Sabha was on Monday adjourned till 2 pm following protests by opposition parties demanding a joint parliamentary committee probe into the fraud-allegation-triggered rout in the Adani Group company stocks. Soon after the House met after the weekend break, opposition members, primarily Congress MPs, came to the well of the House shouting slogans and demanding a probe into the the tanking of the Adani Group scrips and sought a probe into the business practices of the corporate giant. Speaker Om Birla appealed them to go back to their seats and participate in the debate. This is not good. Sloganeering is against the dignity of the House. People have elected you to raise their issues in Parliament but you are not interested in participating in debate, he said. Birla said the opposition members should come to his chamber and discuss their demands and assured that he would give them enough time to raise the issues in the House. However, the opposition ignored his pleas and continued
The US Feds rate hike decision was on expected lines which probably helped prevent a collapse in Indian markets, after markets saw intense volatility following the fallout of an adverse report on Adani group which eventually led to the FPO being called off.
It's very clear why governmnet is not listening us. He (Gautam Adani) is their special friend. But this is conutry's issue, it involves LIC, SBI, PNB and RBI just asked how many banks have given money to theAdai Group. It should be discussed in the Parliament. PM should tell the nation how much much of the country's wealth has eroded and how much money has been given to the Adani Group. We demand nothing less than a JPC. It's government's responsibility to assure the country and the Opposition in this regard: Congress MP Ranjeet Ranjan
Indian Finance minister Nirmala Sitharaman on February 5 dismissed all charges of the government favouring the Adani Group. During an interview to the Times Now, she said that everything was awarded to the Adani group through open tender. Nirmala Sitharaman went on to accuse the opposition of hypocrisy by pointing out that their governments in states have handed over land to the same conglomerate to build ports and other projects.
Shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar were trading 5% down each on the BSE.
Both houses of the parliament were adjourned till 2 pm today amid loud protests and sloganeering from opposition parties demanding a discussion on and an investigation into allegations of fraud against the Adani Group.
Shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar were trading 5 per cent down each on the BSE, while Adani Transmission slipped 10 per cent.
Shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar were trading 5 per cent down each on the BSE, while Adani Transmission slipped 10 per cent.
Adani-Hindenburg Latest Updates: Twelve days after US-based short seller Hindenburg Research released its scathing report accusing the Adani Group of companies of stock manipulation and misusing tax havens, a lot has changed for the ports-to-power conglomerate.
New Delhi: Opposition parties today, February 6, protested near the Gandhi statue outside Parliament and demanded a Joint Parliament Committe (JPC) probe or Supreme Court-monitored investigation into the Hindenburg-Adani row. Opposition parties have determined that they will ask for an adjournment motion in Lok Sabha and Rajya Sabha to discuss the issue. They have accordingly decided to discuss no business other than the Adani issue in the parliament, sources said. To plan a strategy for the Adani-Hindenburg dispute and other issues, opposition parties gathered in the chamber of the leader of the opposition, Mallikarjun Kharge, in Parliament. Congress, DMK, NCP, BRS, JD(U), SP, CPM, CPI, Kerala Cong (Jose Mani), JMM, RLD, RSP, AAP, IUML, RJD, and Shiv Sena were present at the meeting. On January 24, a report by the US-based Hindenburg Research surfaced, asserting that the Adani Group had weak economic fundamentals and was, among other things, engaged in stock manipulation and accounting fraud. The revelation sparked a sell-off of all Adani Group firms' shares. Congress will organise a nationwide protest against the alleged Adani scam today in front of Life Insurance Corporation (LIC) offices and State Bank of India (SBI) branches. Even though other opposition parties are supporting the Congress on the Adani issue, it remains to be seen if organisations like the Bharat Rashtra Samithi, Aam Aadmi Party, and Trinamool Congress, which are frequently spotted together in meetings, will actually participate in the Congress demonstration or simply offer moral support. Will Adani Group's failure affect India? Look at these points Adani Ports Enters F&O Ban List for trade on NSE today Allegations over Adani group should be looked into: Bihar CM
Opposition parties have planned to stall both houses of the Parliament for the third consecutive day if their demand for a discussion on and an investigation into allegations of fraud against the Adani Group is not met.
The selling coincided with a slide in equity benchmarks, with Nifty 50 falling 2.45% in the first month of 2023
Another PIL has been filed in the Supreme Court of India seeking a probe into the Heidenburg report. The Gautam Adani-led Adani Group, who's stocks were one of the key drivers of stock markets since the past 3 years, is now finding it hard to even stay in the positive zone. And, all of it happened in just 1 week. In other words, a major part of his over $100 billion earnings in the last 3 years was wiped out in the last week. The fall has been so massive that the group's market losses have now swelled to over $100 billion, sparking worries about their potential systemic impact.
The recent allegations made by short seller Hindenburg Research against the Adani Group have led to a significant change in the market's perception of the Adani Group companies, despite no material change in the companies' financial performance.
Sensex Nifty continue to struggle as Adani Group shares sink
An ongoing selloff in Adani group stocks further pressured domestic equities, dragging the Nifty 50 index down 0.39 per cent to 17,784
Communist Party of India (CPI) MP Binoy Viswam o moved a Suspension of Business Notice in Rajya Sabha under rule 267 demanding a discussion on the Adani group of companies crisis
Analysts believe the sell-off in bank stocks is overdone since exposure of Indian banks to Adani group remains contained
FPIs sold Indian equities in January as concerns over Adani group stocks mounted. The selloff coincided with a slide in equity benchmarks, with Nifty 50 falling 2.45%. Multiple reasons were cited for the selling, including expensive valuations, reallocation of funds to other markets for cheaper valuations, and Beijing's reopening, easing Covid-19 controls.
Addressing a news conference in Nanded, KCR alleged that the Centre made Life Insurance Corporation (LIC) invest Rs 87,000 crore in the Adani Group and is now pressuring it to make a false statement over its exposure in the Adani group.
Sebi issued the statement amid the ongoing selloff in Adani Group stocks.
The Budget Session of Parliament commenced on January 31 and will continue till April 6 with 27 sittings spread over 66 days with the usual recess. The Budget Session of Parliament commenced on January 31 and will continue till April 6 with 27 sittings spread over 66 days with the usual recess. Last Wednesday, Union Finance Minister Niramala Sitharaman presented the 2023 Union Budget in Parliament. This budget is considered to be a significant one, both economically and politically, as it is the final full budget of the BJP-led NDA government's second term before the 2024 general elections. Lok Sabha proceedings were adjourned for the day on Friday as Opposition members raised slogans demanding a discussion and a joint parliamentary committee probe into the fraud-allegation-triggered rout in Adani Group company stocks. Stay tuned as IndiaToday.in brings you the latest updates from the Parliament Budget session 2023.
Cong questions Modis silence over fraud allegations against Adani Group
For the first time, there was a divergence in the performance of the NSE Nifty and the BSE Sensex. While the Nifty has two Adani group stocks as constituents, BSE has none.
The National Stock Exchange (NSE) has banned trading a single stock, Adani Ports, from the Adani Group within the futures and options (F&O) segment beginning on Monday, February 6, 2023. . According to the NSE, the stock has been placed on hold in the F&O section after exceeding the MWPL by 95%. Adani Ports is still on the F&O ban list, while Ambuja Cements, which was on it in previous sessions, has been taken off as of today by the stock exchange. Every day, the NSE updates its list of securities that are banned from trading in F&O. Adani Ports and Special Economic Zone Limited (APSEZ) shares have been under pressure since last week as a result of the sell-off in Adani Group stocks and worries surrounding the report by US-based short seller Hindenburg Research. The stock exchange has currently placed the derivative contracts in the aforementioned securities that have exceeded 95% of the market-wide position limit under the ban period, according to NSE. The stock exchange stated that all clients and members must only trade in the derivative contracts of the aforementioned assets to reduce their positions through offsetting positions. The NSE said, Any increase in open jobs shall incur relevant disciplinary and criminal sanctions. For any of the F&O contracts on that specific stock while it is in the F&O ban period, no new holdings are permitted. The Market-wide position limits (MWPL), which is the maximum number of contracts that may be open at any given moment (open interest), is determined by the stock exchanges. Therefore, if the open interest of a stock surpasses 95% of the MWPL, the F&O contracts for that stock enter a ban period. Allegations over Adani group should be looked into: Bihar CM Adani got support of Anand Mahindra, tweeted and lashed out at foreign media Adani FPO withdrawal has no impact on India's macroeconomic fundamentals: FM
The ruling Jharkhand Mukti Morcha (JMM) on Sunday questioned the silence of the Union government in the ongoing financial crisis involving the Adani Group and urged the Supreme Court to take suo-motu cognizance of the matter.
While all rating firms still maintain that the Adani entities have the ability to meet payment schedules, changing perceptions could immediately tighten liquidity for the capital-intensive group that has deployed funds in long-gestation infrastructure projects.
Hindenburg Researchs allegations against Adani group companies have raised doubt on the firms future, including its massive green energy investment
Mumbai: The Adani group plans to trim its capital spending plans while providing more collateral in the form of stock pledges to lenders after it pulled its 20,000 crore equity fundraising plan last week due to a stock rout set off by Hindenburg Researchs fraud allegations against the conglomerate, two people close to the development said
Groups domestic lenders do not plan to cut off the conglomerate from utilizing sanctioned but unused credit lines for fear their action could backfire
The Adani group, which forayed into the cement business through its acquisition of Ambuja Cements and subsidiary ACC, had also shown its intent on doubling the capacities of the two firms over the next five years to around 140 million tonne per annum
Infrastructure analysts, though, believe the groups non-airport projects are unlikely to be affected in any way.Adani groups offer for the Mangaluru airport was over twice that of the second top bidder
The government clearly does not see any uncertainty over the Adani groups ability to service its debt
Adani Group crisis: Telangana CM KCR demands PM to allow joint parliament panel probe into matter
Uday Kotak's tweet comes amid a sharp sell-off in Adani Group companies shares, which led the market into a tailspin
London: Adani Group is facing its worst phase these days. After a report by Hindenburg Research, the shares of Adani Group companies are continuously falling. Meanwhile, a piece of relief news has come from London for the Adani Group. The London Science Museum, a prestigious institution here, has announced the continuation of its partnership with the Adani Group, that is, the Adani Group company will continue to sponsor a special gallery of the museum. In fact, a gallery on Green Energy has been created in the London Science Museum in collaboration with the Adani Group. Gautam Adani signed a sponsorship deal in 2021 for this gallery named 'Energy Revolution Gallery'. It has been told in media reports that the London Science Museum wants to maintain this sponsorship deal. The spokesperson of the museum has informed that Adani Green Energy will continue to be the title sponsor of this gallery. In times of crisis, the museum's faith in the Adani Group is a relief for them. However, there has been opposition from the beginning regarding this deal of Adani. People say that a significant portion of Adani Group's income comes from coal power plants. In such a situation, how can the Science Museum take money from him for the gallery being built on green energy? The Adani Green Energy Revolution Gallery of the London Science Museum is in effect a new-age gallery built on modern technology. This gallery showcases modern climate science and the energy revolution. In this, it has been talked about the methods of implementing the Paris Agreement to deal with global warming, reducing the dependence on fuels like petrol-diesel and gas. Not only this but those issues have also been talked about in this gallery, which is related to the methods of reducing the effect of climate change all over the world. 'No tribal leader was allowed to complete CM's tenure': CM Soren Don't know where Rs 50,000 crore will be spent: Aaditya Thackeray on BMC budget Muslim man resigns from his post for a Hindu friend, know the whole matter
The start of power supply from the embattled Adani Group's thermal power station in Jharkhand's Godda district, from where electricity is supposed to be transmitted to Bangladesh, may be delayed, Indian media reported today.
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Three funds--Ayushmat Ltd, Elm Park Fund, and India-based Aviator Global Investment Fund agreed to buy 9.24% of all shares available to anchor investors
The exposure to Adani Group is primarily to the operating companies in sectors like ports, transmission, power, gas distribution, roads and airports, it said.
US short seller Hindenburg research's allegations have raised questions on whether Adani group or the family wield influence over the Mauritius-based investors
Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations including fraudulent transactions and share price manipulation. The group has dismissed the charges as lies
The Adani Group has interests in a number of power and port projects across the region, and the Indian government has been keen to emphasise that any setback to projects will not affect ties
Axis Bank's exposure to Adani Group is primarily to the operating companies in sectors like ports, transmission, power, gas distribution, roads and airports
Union Finance Minster Nirmala Sitharaman, while speaking on the Adani Group's stock rout, said India's fundamentals were strong and the regulators would ensure stability of markets.
It'll be regulators who'll do their job. RBI made statement, prior to that banks, LIC came out & told about their exposure (to Adani group). Regulators independent of govt, they're left to themselves to do what is appropriate so market is well regulated. So the regulators will do their jobs, said Sitharaman in a press conference.
NEW DELHI : Nirmala Sitharaman, the Union Finance Minister, reacted to the Adani crisis on Saturday in a statement to the media after a post-budget meeting with stakeholders. On Wednesday night, Adani Enterprises Ltd. abruptly decided to cancel its FPO worth 20,000 crore. She said that the FPO (Follow-on Public Offer) withdrawal by Adani Enterprises had no effect on the macroeconomic foundations of the nation or its standing. After taking into account the share price decline that occurred on February 3, Gautam Adani has also been removed from the list of the top 20 richest persons. Adani Group's overall market value decreased by 47.44% on February 3 to Rs10,07,999 crore from 19,18,056 crore on January 24, the day the Hindenburg report was made public. Fund manager Sat Duhra said, if Adani causes a further shift in perception, the wipeout could become more widespread. A limited number of companies dominate the Indian stock market indices, so any shift in sentiment and trading activity will have a disproportionately strong influence on the indices as more liquid names are sold first. The Adani Group's market capitalisation has dropped by USD 108 billion since Hindenburg Research accused the corporation of stock manipulation and accounting fraud in a study on January 24. On Friday, FM Sitharmana said, Our regulators are typically very, very strict on governance processes. Therefore, one case, no matter how well discussed it may be globally, is not going to be indicative of how well financial markets are governed. She added that investors would continue to have a high level of confidence in India. The FM also assured that India would carry on to enjoy high investor confidence. India's ministry of corporate affairs has started a preliminary review of Adani Group's financial statements and other regulatory submissions made over the years, as per reports. Heres what Adani M-Cap changed since Hindenburg report S&P Dow Jones claims 'Will Drop Adani Ent. from Sustainability Indices' Adani stocks' market valuation continue to fall below Rs10-La-Cr, Here is why
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While the stocks rout of some group companies continued, bonds got a breather with global investment banks telling clients that these papers were attractive and that the companies might be able to meet the payments.
Srinagar: Jammu and Kashmir Bank, which has an exposure of nearly Rs 250 crore in the Adani Group, on Friday said the bank investors have nothing to worry as its loans to the embattled business group are secured. Our loans to Adani Group are secured against the assets of the projects that were financed by 
S&P said in a statement that there is a risk that investor concerns about the groups governance and disclosures are larger than what it has currently factored into ratings
The exposure to Adani group companies accounts for 0.8% of the total gross advances of the top three state-run banks
RBI . - Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
The Adani Group crisis continues to worry investors and shareholders, but the government assured people, saying India's public financial system is robust despite the fluctuations in the group's stock value.
Speaking to reporters after the announcement of results, SBI Chairman Dinesh Khara clarified that the non-fund exposure is limited to letters of credit and performance bank guarantees, and is not related to any equity raising or acquisition activities of the Gautam Adani-led group
The NSE added a firm run by a relative of Adani: Monarch Networth Capital
Ministry of Corporate Affairs begins review of Adani Group financial statements
BRS leader K Keshava Rao supports probe into Adani Group
S&P lowered the rating outlook for Adani Ports & Special Economic Zone Ltd. and Adani Electricity Mumbai Ltd. to negative from stable
In a little over a week since New York-based investor research firm Hindenburg Research accused industrialist Gautam Adani-led conglomerate of brazen stock manipulation and accounting fraud scheme over the course of decades, shares of Adani Group companies have nosedived. Adani, who until recently was the richest Indian in the world,... The post Editorial with Sujit Nair: What Next For Adani??? appeared first on HW News English .
For the second day in a row, the Hindenburg report on Adani Group of Companies rocked both houses of Parliament. Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
Bank management says, exposure to Adani Group well below the ceiling prescribed by RBI under large exposure framework
Kerala Budget 2023 Both projects were opposed by opposition parties as well as members of the public, who were concerned about the land acquisition procedure which may displace thousands of families. TNM Staff Year 2022 saw quite a lot of protests against two of Keralas ambitious projects the K-Rail, a semi high-speed project promising to connect Kasaragod and Thiruvananthapuram in four hours, and the Vizhinjam International Seaport that has been in the pipeline for many years. Both projects were opposed by opposition parties as well as members of the public, who were concerned about the land acquisition needed for the project, which may displace thousands of families. However, the Friday budget speech of Finance Minister KN Balagopal mentions allocations for land acquisition in the Vizhinjam port project, though there is no mention of the K-Rail project, which had been halted following pending approvals from the Union government. An amount of Rs 1,000 crore is kept aside for land acquisition activities, through the Kerala Infrastructure Investment Fund Board (KIIFB), Minister Balagopal said in his budget speech. By utilising the possibilities of Vizhinjam, the government prepares for massive development projects modelled on major international ports. Vizhinjam can become one of the largest transshipment container ports in the world, says the budget document released by the government. Drawing parallels with port-cities like Dubai, Singapore, and Shanghai, the Minister said that Vizhinjam too is located on a busy sea route, and important cities and industrial centres have developed next to such ports. The budget mentions the construction of a ring road, 63 km long, to develop the nearby areas of Vizhinjam into such an industrial corridor. The ring road will connect Vizhinjam to Navayikkulam via Thekkada in NH 66 and 12 km from Thekkada to Mangalapuram, the budget document says. This will become the most important industrial corridor of the state. A township chain of industrial institutions, commercial centres, and extensive accommodation facilities will emerge, it says. It also mentions initiatives to develop industrial parks, logistics centres, and residential areas involving people on either side of the industrial corridor. An amount of Rs 60,000 crore will be earmarked for the first phase of development. A protest that lasted more than 130 days was called off in Kerala last year only by December, after talks with Chief Minister Pinarayi Vijayan. Vicar General Fr Eugene Pereira said that the protest was called off, not because their objectives were met, but because one phase of the protest had ended in consensus. The port construction, carried out by the Adani group, had been halted until further intimation from the government's side. Read:Vizhinjam port agitation called off for now after discussions with Kerala CM The protestors, mostly comprising fisher folk, have been worried about the impact of the project on their lives and livelihood. They have demanded that they should carry out an independent study on their own, before the project proceeds. Also read: Kerala Opposition to protest against unscientific tax hike announced in Budget Additional tax proposed for vacant houses in Kerala
Amid a slide in shares of the Adani Group, the Reserve Bank of India said it keeps a constant vigil on the banking sector and on individual banks to maintain financial stability.
Adani Group stocks have taken a beating after US-based short-seller Hindenburg Research made a litany of allegations in a report.
The Adani Group, led by billionaire Gautam Adani, is reeling from a U.S. short-seller's scathing report last week that has cratered its shares, prompted calls from opposition lawmakers for a wider probe and the central bank to check on banks' exposure to the conglomerate
Shares of Adani Enterprises even crashed 35 per cent in early trade on Friday after S&P Dow Jones Indices said it would exclude Adani Enterprises from widely used sustainability indices with effect from February 7.
Our loans to Adani Group are secured against the assets of the projects that were financed by JK Bank, JK Bank Deputy General Manager Nishikant Sharma told PTI.
The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent, while broader NSE Nifty advanced 243.65 points or 1.38 per cent. Some Adani Group stocks also revived after a 'confident' statement by TotalEnergies, a French energy company, raising the sentiment of the market.
Amid the uproar in the parliament over the freefall of the Adani group triggered by the report of a US short sellers report, the Minister of Parliamentary Affairs Pralhad Joshi said on Friday said the Indian government had nothing to do with the issues of the Adani Group. The government has nothing to do with Adani matters, said the minister. On the fourth day of the Parliament Budget session, both Rajya Sabha and Lok Sabha were adjourned till after lunch amid high drama over the Adani row. Adani Groups disastrous run on the stock market started after US short-seller Hindenburg Research released a scathing report, accusing the conglomerate of stock manipulation and improper use of tax havens. It also raised concerns about the groups mounting debt. While Adani Group dismissed the report in multiple statements, it has severely hurt the valuations of listed companies. It has also hurt Gautam Adanis net worth as he lost his title as Asias richest man. After the FPO was called off, Adani Group released a statement saying its board had decided not to go ahead with the share sale as it would be morally incorrect. Adani Groups recent stock market run has led to panic among investors, and the market regulator is reportedly examining the recent crash in stocks of listed companies. Meanwhile, the Adani Enterprises issue reached the Supreme Court on Friday with a public interest litigation (PIL) seeking a probe against Hindenburg Research. Advocate ML Sharma, who filed the PIL, sought a probe against the and its founder Nathan Anderson. Sharma sought action against Anderson and compensation for people who had invested in the companies of the Adani group.
Seven Adani Group companies have found themselves on the NSE's ASM list as of February 3
Indian shares opened higher on Friday, helped by a rise in financials and optimism that the rate hike cycle may be near its end after global central banks hinted at inflation easing, while the ongoing rout in Adani group stock capped gains. The Nifty settled above the 17,850 mark after hitting day's low of 17,584.20 in mid-morning trade. Banks, financial services and consumer durables scrips were in demand.On the other hand, healthcare, pharma and oil & gas stocks declined. The BSE Sensex jumped 909.64 points or 1.52% to 60,841.88. The Nifty 50 index gained 243.65 points or 1.38% to 17,854.05 High weightage financials rose over 1% ahead of earnings of the country's largest lender State Bank of India and after clarification from life insurers SBI Life and HDFC Life, addressing investor concerns regarding the latest budget proposals. Adani stocks slipped, extending the ongoing selloff in the conglomerate's stocks which has caused a rout of over USD 100 billion in market valuation after the Hindenburg report on Jan. 24, keeping a check on the upbeat mood. 31 of the Nifty 50 stocks rose with Titan , IndusInd Bank, Bajaj Finance, SBI Life and SBI among the top gainers. The NSE has put Adani Enterprises, Adani Ports and Ambuja Cements under an additional surveillance measure (ASM) framework after the recent selloff. The federal reserrve hiked the key interest rate by 25 basis points, while the ECB and BoE raised it by 50 bps each and signalled that the tide was turning against inflation. The RBI is expected to raise the key policy repo rate by 25 bps at its policy meeting on Feb. 8, beginning the end of almost a year-long tightening cycle. S&P Dow Jones claims 'Will Drop Adani Ent. from Sustainability Indices' Adani stocks' market valuation continue to fall below Rs10-La-Cr, Here is why NSE puts 3 Adani stocks under ASM to curb short selling
It has put out the information that their exposure in Adani Group companies should not be any concern for shareholders and policyholders, Department of Investment and Public Asset Management Tuhin Kanta Pandey said.