The funds rank among the biggest shareholders in Adani group companies, ahead of prominent financial institutions like BlackRock Inc. and The Vanguard Group Inc.
Adani Group is doubling its coal-fired power capacity to 24 GW, and plans to own, develop or operate new coal mines with a combined capacity of 132 million tons a year.
Adani's personal fortune tumbled by around Rs 66,779 cr to Rs 5.01 lakh cr, after ET report on offshore investors. Just days ago, he was closing the gap with Mukesh Ambani as Asia’s richest.
Adani Enterprises Ltd. has spun off several units into the public market but the list of shareholders that have risen 200% to 900% in value in the past year need some explaining.
The dramatic rout marks a halt to the dizzying rally in shares of some of the Adani Group companies that had added almost $40 billion to the billionaire’s wealth this year.
Shares of six Adani Group companies crashed Monday wiping out more than $6 billion of the companies’ market capitalisation and bringing down Gautam Adani’s net worth.
Adani Total Gas, Adani Power & Adani Transmission all fell by their 5% daily limit Tuesday after Adani group said the 3 funds were facing suspension due to a years-old regulatory order.
The funds own more than 435 billion rupees ($6 billion) in four Adani group firms, the report said, adding that the frozen accounts won’t be able to sell or buy new securities.
Adani's net worth saw a rapid surge in 2021, beating the gains for Warren Buffett and Mukesh Ambani. This included a 330% jump in Adani Total Gas and a 235% rise Adani Enterprises.
The IndiGo crisis is nothing short of a threat to India’s stability. Could it be an experiment? Can this happen in any other crucial sector like power or railways?
RBI Handbook of Statistics shows state’s GSDP has more than doubled in past decade, finishing second behind Maharashtra. It has performed well across health & education parameters as well.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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