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
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
The asset management unit of JPMorgan Chase & Co. has wiped its ESG portfolios clean of their exposure to the Adani empire. The move, captured by an analysis of data compiled by Bloomberg, comes as a number of major investment firms such as BlackRock Inc. and the fund management unit of Deutsche Bank AG, DWS … Read more
The rout in Adani Group shares has room to run based on charts that show key stocks in Gautam Adani’s empire may still extend declines to the 85% downside flagged by Hindenburg Research.The combined market value of the 10 listed companies in the group has slumped by $146 billion, or about 60%, since the US-based … Read more
Indian market plunged on Monday tracking weak global cues. The S&P BSE Sensex fell more than 800 points while the Nifty50 closed below 17500 levels. Sectorally, selling pressure was seen in metals, realty, consumer discretionary, auto, banks, and IT stocks. Stocks that were in focus included which closed with gains of 5 per cent, which … Read more