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.
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.
Cracking the code of how Hindenburg made the trade could lead to more short sellers taking positions against Indian companies, which has been rare, according to analysts.
Nick Jonas is not trying to modernise the mangalsutra, but his gesture shows that choices can be equal. If commitment must be flaunted, it need not be gendered.
COMMENTS