Mumbai: Adani Enterprises, the flagship company of the Adani Group, said on Thursday that its fiscal fourth quarter net profit more than doubled from a year earlier, driven by strong performance at its roads business. Sequentially, the profit fell 12% due to higher finance costs and operating expenses. The company, which acts as an incubator … Read more
MSCI ESG Research said on Friday it recently changed some of its environmental, social and governance assessments of Adani Group entities, after the Indian conglomerate was caught up in a short-selling storm in recent weeks. Seven listed Adani Group companies lost over $100 billion in market value combined after a Jan. 24 report by Hindenburg … Read more
dani Transmission and Adani Total Gas have been moved to the stage-II of long-term additional surveillance framework by the National Stock Exchange from stage-I. The move will be effective from Monday, read a circular of the exchange. Earlier this week, the exchange had moved Adani Green Energy and New Delhi Television to the stage-II surveillance … Read more
Mumbai: Two of India’s leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. The recent selloff mirrors the weak trend in global equities after a series of US economic data – including Friday’s consumer price inflation, which is the Federal Reserve’s most preferred inflation gauge – compounded fears the … 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
In tune with most of the Asian peers, Indian equity indices closed in the red for the sixth consecutive day on Friday, dragged by the HDFC twins, banking and IT stocks. It was their worst week in over 8 months on fears of aggressive interest rate hikes by global central banks and a fall in … Read more
Financing arrangements across the Adani Group conglomerate have sent a fresh chill through ESG markets as investors wake up to a new risk. Norway’s largest pension fund, KLP, recently dumped its entire holding of shares in Adani Green Energy Ltd., the renewables part of the empire, amid concerns that it might inadvertently have helped finance … Read more
NEW DELHI: After weeks of getting hammered by bears, Adani stocks had their best day in a month on Thursday as investors showed buying interest at lower levels. Out of the 10 Adani stocks, eight were trading in the green zone, with NDTV and Adani Power locked in their 5% upper circuit limits. Adani Group’s … Read more
Mumbai: Adani Group stocks extended their rally to a second day on Wednesday as investors were encouraged by the conglomerate’s move to repay borrowings early and free up share pledges besides giving assurances about cutting debt further. Six of the 10 Adani stocks gained between 5% and 20% on Wednesday, helping the group regain ₹49,000 … Read more
“A lot of large institutional investors are long-term strategic infra, intergenerational investors. They see the wealth creation in a utility platform over a generational period because all of our entities — public companies, nine we have now, are primarily into the core infrastructure that is required in India. Those entities and their business have not … Read more