US indictments landed a blow on Adani Group, with international deals being reviewed and ratings agencies changing outlook. But recent efforts have helped it claw back market cap.
Other Adani stocks like ACC, Ambuja Cement, Adani Total Gas and its recent media acquisition NDTV, however, closed in green, showing some resistance to the volatility.
The Group’s stocks rose strongly on Monday, following exit polls that predicted a landslide for Modi, but reversed all gains Tuesday as trends showed the BJP would fall well short of a single-party majority.
Allegations by Organised Crime and Corruption Reporting Project (OCCRP) come on the heels of US-based Hindenburg accusing Adani Group of improper business dealings earlier this year.
The rally has led Adani Ports and Special Economic Zone Ltd to briefly recoup all its market capitalisation losses since a damaging report by Hindenburg Research.
As per reports, banks that are organising next week's roadshow include Barclays, BNP Paribas, DBS Bank, Deutsche Bank, Emirates NBD Capital, Standard Chartered Bank, among others.
From Finance Minister Nirmala Sitharaman to Uday Kotak, many believe the Indian economy is robust enough to plough through the aftermath of the Adani-Hindenburg row. Here's why.
While providing more collateral in the form of stock pledges to lenders, the group may moderate its capex plans in some of its businesses, the Mint newspaper reported.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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