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The Latest Breaking News from Adani Group

It’s tough to short Gautam Adani stocks listed in India. Here’s why

NEW DELHI: Hindenburg Research’s decision to only go short on Adani Group securities outside India has highlighted the limitations of the practice in the nation and the peculiarities of the business empire itself.

The Times of India

Inside the 19-hour meltdown that junked Gautam Adani's share sale

NEW DELHI: A beaming Gautam Adani stood beside Israeli Prime Minister Benjamin Netanyahu on Tuesday, looking relaxed as hundreds of people gathered for the ceremonial signing at the Haifa Port, which the Indian billionaire is co-developing.

The Times of India

The Weekly Wrap for Saturday, 4 February 2023

Asia's richest man has watched a quarter of his fortune evaporate in a week. An industrial empire is teetering. And it's all because of one teeny-weeny little memo.

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Adani debacle threatens fallout on India's wider economy

This week, a major upheaval hit one of India’s top business empires. Adani Group has operations in everything from coal mining to telecoms. Its seven main units were recently worth an estimated $220 billion. But a blistering report by an American investor research firm accusing the conglomerate of massive fraud…

France 24

Nirmala Sitharaman assures investors, RBI says keeping vigil: Top developments in Adani-Hindenburg row

NEW DELHI: After 6 days of market rout, few of the Adani Group stocks rebounded on Friday after French energy company TotalEnergies' positive sentiment on the firm.

The Times of India

Banking sector remains resilient and stable, says RBI

NEW DELHI: The Reserve Bank of India (RBI) on Friday said that the Indian banking sector remains resilient and stable.

The Times of India

SBI's total exposure to Adani Group at Rs 27,000 crore; none against shares

MUMBAI: SBI's total exposure to the embattled Adani Group is 0.88 per cent of the book or about Rs 27,000 crore, and the country's largest lender does not envisage any setback on its bets, a top official said on Friday.

The Times of India

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The Adani Group lost $118 billion in value in 10 days. Here’s how it happened in charts

Adani Group shares are in freefall following the release of a report from Hindenburg Research alleging stock manipulation and fraud.

Fortune

SBI, LIC exposure within permitted limits; markets well regulated: Nirmala Sitharaman on Adani-Hindenburg row

NEW DELHI: Finance minister Nirmala Sitharaman on Friday said she did not expect the ongoing controversy around Adani Group to affect investor confidence as India's banking system is sound and the financial markets are "well regulated".

The Times of India

Indian tycoon Adani hit by more losses, calls for probe

Losses for the troubled Adani Group, India’s second-largest conglomerate, have deepened as shares in its flagship company tumbled another 25%

The Independent UK

Gautam Adani backers from New York to Tokyo dissect and limit exposure

NEW DELHI: Financial institutions from New York to London and Tokyo are dissecting their exposure to the empire of Gautam Adani, who was Asia’s richest man only a few days ago.

The Times of India

India’s Adani’s losses swell above $100bn

India’s central bank is examining the exposure of banks to the group as its various firms continued to tank.

Al Jazeera

Short selling Adani: how an obscure US firm profited from triggering the Indian giant's price plunge

A few weeks ago, Gautam Adani was indisputably India’s richest man.

The Conversation

Jo Johnson resigns as director of firm linked to Adani allegations

Former UK PM’s brother quits board of Elara Capital days after it was accused of using funds to manipulate share prices

The Guardian - UK

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The Times of India

Explained: How Gautam Adani v/s Hindenburg saga has unfolded so far

NEW DELHI: When one of mightiest conglomerates of a country calls off its fully subscribed follow on public offer (FPO), stating that it would be "morally incorrect", it is sure to spook investors.

Fortune

Boris Johnson's younger brother just resigned from an Adani-linked investment bank after a $100 billion stock rout amid claims of a shady offshore account

"I have consistently received assurances from Elara Capital that it is compliant with its legal obligations and in good standing with regulatory bodies."

The Times of India

SBI has $2.6 billion of loans to Gautam Adani

MUMBAI: State Bank of India, the country’s largest financier, has given loans of as much as $2.6 billion to companies in the Adani conglomerate, or about half of what is allowed under the rules, according to a person familiar with the matter.

WEKU

How Asia's ex-richest man lost nearly $50 billion in just over a week

Indian businessman Gautam Adani was a few billion dollars shy of Elon Musk. But he tumbled down the billionaires' list after a U.S. firm accused the Adani Group of pulling off an epic con.

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The Independent UK

Share debacle a rare setback for Indian tycoon Adani

India's Gautam Adani was Asia's richest man when the U.S. short-selling firm Hindenburg Research put out a report last week alleging his businesses have engaged in fraud and stock price manipulation

Al Jazeera

India opposition MPs seek Adani probe as group losses top $100bn

Opposition MPs call for parliamentary investigation after US-based short seller accuses Adani Group of fraud.

France 24

Adani Enterprises calls off €2.2 billion share sale, citing 'market volatility'

The Adani Group conglomerate has seen tens of billions of euros wiped off its market value since a short-seller's report accused it of pulling "the largest con in corporate history" last week. It has now cancelled a €2.2 billion ($2.5 billion) share sale meant to help reduce debt levels. Billionaire…

Bangkok Post

Adani losses top $100bn after fraud claims

MUMBAI: The business empire of under-fire Indian tycoon Gautam Adani has lost more than $100 billion in value over the past week as shares in several firms plunged again on Thursday, a day after the group cancelled a multi-billion-dollar public offering.

The Guardian - AU

Why has the Adani Group shed US$90bn in value and what do short sellers have to gain?

As Gautam Adani drops down the world’s rich list, here’s what we know about Hindenburg Research’s accusations and what they mean for the Indian conglomerate

The Independent UK

Adani scraps $2.5B share sale after fraud claims hit stock

Embattled Indian billionaire Gautam Adani has called off his flagship company’s sale of $2.5 billion shares

Reuters

Adani abandons $2.5 billion share sale in big setback to Indian tycoon

Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a U.S. short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

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