• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, May 19, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Markets

Adani Group Considering Independent Investigation after Short-Seller Report

by Indrajeet Giram
February 8, 2023
in Markets
Reading Time: 2 mins read
0
Adani Group Considering Independent Investigation after Short-Seller Report
TwitterWhatsappLinkedin

Adani Group is considering an independent evaluation of its internal processes, legal compliance and transactions with related parties after a critical report by a U.S. short-seller.

You might also like

Americans and Non-Americans Alike Struggle to Find Jobs in the US Amid Tough Market Conditions

“We came close,” admits Sundar Pichai about Google’s near acquisition of Netflix

Weekly Business News: From Antfin’s exit from Paytm to Zerodha on the Nasdaq Tower

The report by Hindenburg Research, published on January 24th, accused Adani Group of engaging in stock manipulation, using tax havens and having unsustainable debt. The allegations have caused a stir in the market and caused investors to sell off shares, despite Adani Group denying the claims and stating that they comply with all laws and have made necessary disclosures.

Adani Group Considering Independent Investigation after Short-Seller Report
source : yahoo.finance.com

The recent quarterly earnings disclosure of three Adani units, Adani Green Energy, Adani Ports and Special Economic Zone, and Ambuja Cements, mentioned for the first time that a short-seller has raised “certain issues” against some entities within Adani Group and that they may be examined in the future.

Adani Group entities are considering an independent evaluation of the compliance with laws and regulations and specific transaction issues, according to Adani Green’s quarterly earnings filing.

Ambuja Cements made a similar statement, while Adani Ports stated that it would evaluate an independent assessment if necessary. The decision to look into these issues comes after the Hindenburg Research report alleged that Adani Group engaged in stock manipulation and used tax havens, leading to a decline in market value and the postponing of a $2.5 billion share sale.

Moody’s rating agency warned that the drop in stock price could impact Adani’s ability to raise capital, and the central bank of India has started examining the lenders’ exposure to the conglomerate. Despite these challenges, Adani Group’s shares rallied on Tuesday after repaying some loans, bringing relief to investors.

Recent actions taken by Adani Group

On Monday, Adani Group announced its decision to pre-pay $1.11 billion worth of loans on shares, and on Tuesday, JPMorgan stated that the group’s companies are still eligible for inclusion in the bank’s bond indexes.

Adani Enterprises, the group’s flagship company, saw a 14.6% increase in its stock on Tuesday, but is still trading at around half its pre-Hindenburg report levels. Despite the improvement, independent market analyst Ambareesh Baliga stated that the stock is still considered expensive given the ongoing issues.

The seven listed companies of Adani Group still face a cumulative loss of $109 billion, with Adani Ports seeing a 1.4% increase and Adani Wilmar a 5% rise, but Adani Green, Adani Total Gas, and Adani Power all ended 5% lower.

As many Adani group companies are set to release their results this week, Adani Ports posted a decrease in its quarterly profit due to rising foreign exchange losses and announced its plan to repay 50 billion rupees ($605 million) in the new fiscal year. Meanwhile, Adani Green reported a more than two-fold increase in its quarterly profit.

Tags: #gautam_adani#scammingAdani Groupadni enterprisesBSEindian stocksInvestmentNSEsensex
Tweet54SendShare15
Previous Post

Google targets women with low income with ads for anti-abortion clinics

Next Post

Retail Giant Bed Bath & Beyond Avoids Bankruptcy with $1 Billion Capital Raise

Indrajeet Giram

📚 Avid reader 🔋constant learner curious analyzer @ everything 📝Business & Economic Journalist ✍️

Recommended For You

Americans and Non-Americans Alike Struggle to Find Jobs in the US Amid Tough Market Conditions

by Rounak Majumdar
May 17, 2025
0
Americans and Non-Americans Alike Struggle to Find Jobs in the US Amid Tough Market Conditions

The United States job market in 2025 is proving to be one of the most challenging in recent memory, affecting both American citizens and non-Americans seeking employment. Recent...

Read more

“We came close,” admits Sundar Pichai about Google’s near acquisition of Netflix

by Ishaan Negi
May 17, 2025
0
Another milestone in Sundar Pichai’s journey as AI boom gets him close to billionaire status

In a rare moment of candid reflection, Google CEO Sundar Pichai recently disclosed that the tech titan once came very close to acquiring Netflix — a move that,...

Read more

Weekly Business News: From Antfin’s exit from Paytm to Zerodha on the Nasdaq Tower

by Ishaan Negi
May 17, 2025
0
Weekly Business News: Top business updates in this week

As global politics, business strategy, and technology intersect in new ways, India is increasingly finding itself at the heart of key developments—ranging from Big Tech’s manufacturing decisions to...

Read more
Next Post
Retail Giant Bed Bath & Beyond Avoids Bankruptcy with $1 Billion Capital Raise

Retail Giant Bed Bath & Beyond Avoids Bankruptcy with $1 Billion Capital Raise

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?