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The Latest Breaking News from Adani Group

Companies that compete with Adani group for ‘prized’ assets face raids from CBI, ED and Income Tax, alleges Congress

“Agencies like the ED and CBI are not only being used to break apart opposition parties,” Mr. Ramesh said.

The Hindu

Adani to buy cement firm Sanghi in first major deal post-Hindenburg

MUMBAI: Indian billionaire Gautam Adani’s Ambuja Cements Ltd will buy a majority stake in Sanghi Industries Ltd as the tycoon’s ports-to-power conglomerate looks to expand cement operations across the South Asian nation, according to people familiar with the matter.

The Times of India

TNERC rules in favour of Adani Group firm, sets aside Tangedco’s communication

TNERC rules in favour of Adani Group firm Kamuthi Renewable Energy Ltd., sets aside Tangedco’s communication seeking segregation of the firm’s 72 MW-solar project into two and payment of different tariff rates, as illegal and without jurisdiction. Firm entitled to ₹7.01/unit tariff for entire 72 MW-project, as it was commissioned…

The Hindu

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Successive govts. failed to adopt best strategies to avoid accidents at Muthalapozhi

The latest accident in the Muthalapozhy fishing harbour channel, which claimed four lives, appears to have evoked some knee-jerk reactions. The Kerala government has convened an urgent meeting of various stakeholders, including the Vizhinjam port developer Adani Group, which has signed an agreement with the Harbour Engineering department for dredging…

The Hindu

'Adani Green mulls raising $1.5 billion to fund expansion'

MUMBAI: Indian billionaire Gautam Adani’s renewable energy unit is considering raising about 123 billion rupees ($1.5 billion) to fund his coal-dependent conglomerate’s green diversification, people familiar with the matter said, following the fallout from a damaging short-seller broadside.

The Times of India

Adani group draws regulatory scrutiny in the US after Hindenburg Research report

NEW YORK: US authorities are looking into what representations Adani group made to its American investors following a scathing short seller’s report that accused the company of using offshore companies to secretly manipulate its share prices.

The Times of India

Explained | Decoding the expert committee report on Adani

Explaining the expert committee report on Adani which has shown regulatory fault with SEBI

The Hindu

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Chennithala alleges bid to ‘donate’ Kannur airport to Adani Group

Mr. Chennithala was inaugurating a protest march organised by the Kannur District Congress Committee against the alleged neglect of the airport by the Centre and the State.

The Hindu

Adani Group to educate children who lost parents in Odisha train tragedy

Adani Group will take the responsibility of the school education of the wards of those deceased in the tragic Odisha train accident. Read further on Dynamite News:

Dynamite News

An unclean chit: On the SEBI investigation and Hindenburg Research’s allegations

The Court extension to the Securities and Exchange Board of India is a strong case for a closer look at SEBI’s approach to its key mandate of protecting investors

The Hindu

GQG’s Rajiv Jain raises stake in Gautam Adani group by about 10% for $3.5 billion bet

MUMBAI: Veteran investor Rajiv Jain’s GQG Partners LLC has raised its stake in billionaire Gautam Adani’s conglomerate by about 10% and will take part in the conglomerate’s future fund raising, doubling down on what he calls “the best infrastructure assets available in India.”

The Times of India

Six entities under lens for suspicious trading in Adani shares: Supreme Court panel

Hindenburg’s report claimed that the Adani empire was the “biggest con in corporate history” engaged in a “brazen stock manipulation and accounting fraud scheme”

The Hindu

‘Clean chit’: How Adani-owned NDTV reported on SC panel’s report on Hindenburg allegations

As the Supreme Court-appointed expert committee observed on Friday that there was “no coherent pattern of abusive trading” by the Adani group and that some of the charges were “still under investigation”, Adani-owned media house NDTV summed up the 173-page report with this catchphrase: “clean chit”.

Newslaundry

SC-appointed committee says retail exposure in Adani group increased after Hindenburg report

NEW DELHI: The Supreme Court-appointed expert committee constituted to look into the Adani group shares crash triggered by the Hindenburg Research report has said empirical data showed that retail investors' exposure in the group has increased after January 24, 2023, when the report came out.

The Times of India

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The Times of India

Gautam Adani stocks lose $10 billion in value as MSCI exclusion weighs

MUMBAI: Gautam Adani-led Adani Group is heading for its worst week since late February as the deletion of two of its entities from the indexes of MSCI and concerns over potential dilution from a fundraising plan have wiped out $10.1 billion in market value.

The Times of India

Submit report on Adani-Hindenburg probe by August 14, Supreme Court tells Sebi

NEW DELHI: The Supreme Court on Wednesday granted the Securities and Exchange Board of India (Sebi) an additional three months, until August 14, to complete its probe into possible lapses in regulatory disclosures by the Adani Group.

Dynamite News

Adani-Hindenburg row: SC to hear PILs seeking probe today

The Supreme Court will on Wednesday hear a batch of Public Interest Litigations (PILs) seeking an investigation into the Adani Group-Hindenberg report issue and the SEBI's plea for an extension of time to submit the report.

The Hindu

Adani-Hindenburg row: Supreme Court to hear SEBI’s plea on extension of probe time

The Supreme Court adjourned to Tuesday the hearing on a plea of the Securities and Exchange Board of India (SEBI) seeking an extension of six months to complete a probe into allegations of stock price manipulation by the Adani group.

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The Times of India

MSCI kicks two Gautam Adani companies from indexes

NEW YORK: Global index manager MSCI Inc will exclude two Adani Group firms from its India gauge, potentially dealing a blow to their stocks that are trying to recover from the rout triggered by a short-seller report earlier this year.

360info

'National champion' Adani beneficiary of favours

India’s government appears to have favoured the Adani Group to grow more rapidly than older peers and avoid regulatory scrutiny on potentially serious concerns.

The Hindu

SEBI should find ultimate beneficial owners of foreign funds invested in the Adani Group, says Congress

The Securities and Exchange Board of India (SEBI) should use all means at its disposal to get clarity about the ultimate beneficial ownership of foreign funds invested in the Adani Group, the Congress said on May 3.

The Hindu

Adani Ports starts $130 million buyback of debt securities

Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on April 24 that it started a buyback programme of certain debt securities to prepay part of its loans due in 2024. Read the full story on The Hindu.

The Times of India

Four charts map Gautam Adani group’s debt pile, reliance on global banks for funding

MUMBAI: Adani group’s pile of debt increased almost 21% over the past year and the proportion held by global banks rose to nearly a third, according to data seen by Bloomberg that offers an up-to-date snapshot of its financial health.

The Times of India

Sharad Pawar: It seems Adani Group was targeted; can’t see logic of JPC demand

NEW DELHI: NCP leader and key Congress ally Sharad Pawar on Friday criticised the campaign against the Adani Group, saying the corporate giant was being targeted, in what is seen as a setback to others in the opposition, especially Rahul Gandhi. He also questioned the logic behind demanding a parliamentary…

The Times of India

Adani joint venture is in talks for first dollar loan since Hindenburg

MUMBAI: An Adani Group joint venture with EdgeConneX is in talks with about half a dozen banks for a loan of about $220 million, which would be the conglomerate’s first offshore borrowing since it was targeted by shortseller Hindenburg Research.

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