Exactly on this day a year ago, the Indian stock market had woken up to an explosive report from a hitherto unknown entity on Dalal Street. Before investors could finish reading the summary of the 106-page Hindenburg report, Adani stocks started falling like ninepins.In next seven trading sessions, as the issue erupted into a major … Read more
BJP on Thursday reacted strongly to questions raised by Congress leader Rahul Gandhi, based on reports in the international media. BJP said that some people were rattled by India’s growth outlook under the Modi government and were trying to malign the image of the country. BJP national spokesperson Syed Zafar Islam told ETthat India is … 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
The Supreme Court on Friday granted markets regulator SEBI a three-month extension to probe into allegations of stock price manipulation by the Adani Group and lapses in regulatory discourse. SEBI had sought a six-month extension into the same. The apex court had on March 2 asked the Securities and Exchange Board of India (SEBI)to probe … 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
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
Finance Minister Nirmala Sitharaman has said that regulators Sebi and RBI should always be on their toes to keep the equity market stable and indicated that the Adani stock rout following a Hindenburg report was a company specific issue. She said banks and insurance companies are “not overexposed” to any one company and assured that … Read more
In this long exposure image, the logo of the Adani Group is seen on a building in Mumbai on January 27, 2023. | Photo Credit: Reuters Ahmedabad-based Adani Group on Sunday night issued a detailed rebuttal to the allegations of “stock manipulation and accounting malpractices” levelled by U.S.- based short seller Hindenburg Research, dismissing all … Read more