Mutual funds have low exposure to Adani companies

Mutual funds from India and elsewhere hold just 3.4% of Adani Enterprises, 2.8% of Adani Total Gas and 3.6% of Adani Green Energy (Bloomberg)

Mutual funds have low exposure to listed Adani Group companies, whose shares have dropped since publication of a report into the group by Hindenburg Research on Jan. 24. On Wednesday, Adani Group stocks extended their losses since the appearance of the report to $72 billion. Hindenburg criticised the conglomerate for improper use of offshore tax … Read more

Adani Ent share price hits 15% lower circuit a day after FPO sails through

In a statement, IHC said it subscribed to 16% of Adani Enterprises’ follow-on public offering (FPO) through its subsidiary, Green Transmission Investment Holding RSC Ltd (Photo: Reuters)

Adani group’s ₹20,000-crore FPO might have sailed through, but the worst of the Adani-Hindenburg saga may not be over yet. The Adani Enterprises share price hit a 15% lower circuit at ₹2,528 versus the previous close of ₹2,975. The stock opened higher at ₹3,030, but could not sustain the morning and continued to lose through … Read more

Adani FPO: Indian tycoons bought shares amid short seller fight

In a statement, IHC said it subscribed to 16% of Adani Enterprises’ follow-on public offering (FPO) through its subsidiary, Green Transmission Investment Holding RSC Ltd (Photo: Reuters)

At least two of India’s biggest business families participated in Adani Enterprises’ $2.5-billion share sale, according to people familiar with the matter, in a sign of solidarity with Gautam Adani as the tycoon fights short seller allegations that sent the value of his empire plummeting. Tycoons Sajjan Jindal and Sunil Mittal subscribed to the follow-on … Read more

Adani-Hindenburg row: All 7 stocks trade in red despite Adani Enterprises FPO sailing through

Adani Enterprises FPO sailed through after getting subscribed over 100 per cent in three day subscription that ended on 31st January 2022.

Adani-Hindenburg research row: Despite Adani Enterprises FPO (follow-on public offer) getting subscribed over 100 per cent, all 7 Adani group stocks witness sell off pressure in early morning deals. Out of the seven Adani group stocks two shares — Adani Power and Adani Total Gas hit lower circuit within few minutes of market opening. Adani … Read more

Stocks to Watch: CIL, Infosys, Adani Ports, PGCL, Jindal Steel, IHCL

Investors monitor stock prices at a brokerage house in Beijing, Wednesday, May 22, 2019. Shares edged in Asia on Wednesday after a rebound in technology stocks helped power an overnight rally on Wall Street. (AP Photo/Andy Wong)

Here are the top 10 stocks that could be in focus in today’s trade: Coal India: State-owned Coal India has reported a consolidated net profit of ₹7,755.55 crore for the third quarter (Q3FY23), up 70% from ₹4,558.39 crore in the corresponding quarter of last year, as production at the company increased due to higher power … Read more

Budget 2023 to focus on growth, smaller fiscal gap amid Adani woes

Budget 2023 to focus on growth, smaller fiscal gap amid Adani woes.

India is set to unveil a budget that will chart a path for sustained robust growth and fiscal prudence although the fallout from Hindenburg Research’s allegations on the Adani Group poses an overhang on the presentation. Finance Minister Nirmala Sitharaman will announce the last full-year budget before Prime Minister Narendra Modi seeks a third term … Read more

Adani FPO: What saved the issue on the last day of bidding?

The shares of Adani Group companies have been witnessing strong selling post the release of the Hindenburg Research report that alleged a ‘fraud’. Researchers from Hindenburg had pointed out the complicated maze of transactions undertaken by many of the listed Adani Group firms. In a report released on Wednesday, Hindenburg Research accused the Indian giant of participating in a decades-long plan to manipulate stock prices and commit accounting fraud. Adani Group released a media statement where the company said that it was shocked that Hindenburg Research has published a report without making any attempt to contact the company or verify factual matrix.

Just about a week ago, the Street was awaiting India’s largest follow-on-public offer (worth ₹20,000 crore) which was about to be floated by one of the India’s biggest conglomerates. Investors – retail and institutional – were waiting for the issue to open to buy shares of Adani Enterprises at a bit of a discount from … Read more

Adani stock rout costs India spot in world’s top five markets

The proposed easing of FPI rules comes at a time when BSE and NSE have decided to stop sharing market data feeds with foreign stock exchanges to prevent a flight of liquidity from the country. Photo: Hemant Mishra/Mint

A rout in shares of Adani conglomerate has cost India its spot among the world’s five biggest equity markets, as the south Asian country’s market capitalization dropped below France’s on Monday to $3.2 trillion.  India’s slide to the sixth puts the gap with the UK, at seventh, at a little over $100 billion, according to … Read more

Adani Enterprises FPO fully subscribed; NII supports, but retail investors stay away

Gautam Adani, billionaire and chairman of Adani Group, speaks during an event at the Port of Haifa in Haifa, Israel, on Tuesday. (Bloomberg)

Despite US short-selling firm Hindenburg Research accused Gautam Adani of “pulling the largest con in corporate history, the country’s largest follow-on share sale by Adani Enterprises was over-subscribed on the final day of the ₹20,000 crore issue. Out of the 4,55,06,791 fresh shares on offer under the follow-on public offering (FPO), bids were received for … Read more