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
Adani Group is exploring the possibility to invest up to $3 billion in seaport and renewable energy projects in Vietnam, the Vietnamese government said in a statement on Wednesday. The statement came after a meeting in Hanoi on the same day between Vietnamese Prime Minister Pham Minh Chinh and Karan Adani, chief executive officer of … Read more
NEW DELHI: NRI investor Rajiv Jain‘s GQG Partners, which had made a brave contra call by investing over Rs 15,000 crore in Adani stocks in the peak of the Hindenburg-led stock rout, has raised its stake in Adani Group by about 10%. “Within five years, we would like to be one of the largest investors … Read more
MSCI Inc will reduce the foreign inclusion factor (FIF) for Adani Total Gas and Adani Transmission during index review exercise later this month, the global index aggregator said in a release late Friday. Free float is defined as the proportion of outstanding shares available to buy or sell in public markets by international investors. MSCI … Read more