After shares of Nifty stock Adani Ports fell 5% amid investor fears related to the impact on Israel’s Haifa Port due to the war, global brokerage firm CLSA said the dip presents an opportunity for investors. The Adani Group stock recovered on Tuesday and was trading 3% higher at Rs 814. “A 5% fall in … Read more
Mumbai: Indian equities weakened on Monday as heightened uncertainty over the Israel-Hamas conflict led to a flight of money, across global markets, to safe-haven assets such as gold and the US dollar. The surge in oil prices in the wake of the geopolitical tensions also soured sentiment among investors, already anxious about the persistent inflation … Read more
BENGALURU – India’s market regulator has examined the funds named by a non-profit media organisation that were allegedly involved in investing millions of dollars in some publicly traded stocks of India’s Adani Group, said sources aware of the matter. According to the Organised Crime and Corruption Reporting Project (OCCRP), offshore structures based in Mauritius purchased … Read more
Mumbai: Two promoter entities of Adani Power Ltd sold shares worth more than ₹8,710 crore (over $1 billion) to US-based investment firm GQG Partners, its co-investors, and others on Wednesday in block deals. Worldwide Emerging Market Holding Ltd and Afro Asia Trade and Investments Ltd, the two promoter entities, together sold 312 million shares translating … Read more
Shares of billionaire Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) fell nearly 4% to Rs 771 in Monday’s trade on BSE after the auditing firm Deloitte resigned as its auditor. Deloitte’s resignation comes after it asked Adani Ports to conduct an independent inquiry on related party transactions flagged by Hindenburg but the company … Read more
Mumbai: Deloitte Haskins & Sells LLP is set to resign as auditor for Adani Ports & SEZ in the next few days just a year after its reappointment amid differences with the company management over the auditor’s position on certain transactions, said multiple people aware of the development. According to one of the persons, a … Read more
Adani Ports and Special Economic Zone shares have a potential upside of 11-22%, according to estimates of top brokerages. The views come on the back of strong June quarter earnings posted by the Gujarat-based port operator. Estimating that double-digit growth would continue, Jefferies revised its stock price target upwards while recommending a buy. Domestic brokerages … Read more
Adani Ports, UPL, Aarti Industries and Ambuja Cement are four stocks on which Rajesh Palviya, SVP – Technical & Derivatives Research, Axis Securities, recommends a sell. “Adani Ports demonstrates a bearish sentiment as it recently breached the medium-term upward-sloping trendline. It is currently trading below critical moving averages (20, 50, and 200-day SMA), accompanied by … Read more
About four months after US short-seller Hindenburg Research shook Indian financial markets with a bombshell report on the Adani Group, the conglomerate’s stocks are finding it hard to shake off the impact. While two of Adani’s 10 stocks have bounced back strongly, a full recovery to pre-Hindenburg levels looks a ways away. The group’s market … Read more
Veteran fund manager Rajiv Jain said his GQG Partners LLC holds about $13 billion in India stocks and plans to buy more, downplaying corporate governance and political risks associated with his headline-generating investments in billionaire Gautam Adani’s beleaguered conglomerate. GQG holds positions in companies, including cigarette and hotel group ITC , the country’s biggest drugmaker … Read more