Category: Power

The Adani Group may have passed a key test by raising $2.5 billion in the face of a short-seller attack, but its response to the allegations and the outcome of regulatory probes will shape its prospects, analysts and investors say. Most of the conglomerate’s shares dropped on Wednesday, extending losses to $84 billion after Hindenburg […]

CORPORATES AND foreign investors bailed out the Rs 20,000-crore follow-on public offering (FPO) of Adani Enterprises Ltd (AEL) Tuesday amid volatility in the stock market and the crash in Adani group shares following the release of the Hindenburg Research report that accused it of “brazen stock manipulation and accounting fraud”. Despite the AEL share’s market […]

Gautam Adani’s crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire’s stocks sparked by a short-seller’s report. The fundraising is critical for Adani, not just because it will help cut his group’s debt, but also because it […]

In a mega drive conducted by state discoms and the police, a total of 397 illegal electricity connections were detected, stated an official release from the Gujarat government Tuesday. The searches were carried out in four districts – Panchmahal, Rajkot, Surendranagar, and Jamnagar. A total of 3,730 electricity connections were checked by more than 200 […]

Hitting back at the Adani Group’s assertion that the Hindenburg report on the group is an “attack on India”, the US-based research firm has said that “India’s future is being held back by the Adani Group, which has draped itself in the Indian flag while systematically looting the nation.” The Adani Group is trying to […]

The Adani Group on Sunday equated the allegations against its companies by the New York-based Hindenburg Research in a report last week to a “calculated attack on India”, its institutions and the India “growth story”. In a 413-page response to the 106-page Hindenburg Research report, which accused it of “brazen stock manipulation and accounting fraud”, […]

India’s Punjab National Bank has a total exposure of 70 billion rupees ($859.30 million) to Adani Group, but there is currently no worry pertaining to those accounts, the state-run lender’s managing director and chief executive said on Monday. Last week, U.S. short-seller Hindenburg Research flagged concerns about Adani Group’s debt levels and the use of […]

India’s Life Insurance Corporation (LIC) said on Monday it was reviewing the Adani Group’s response to scathing criticism by a U.S. short-seller and would hold talks with the group’s management within days. Shares of companies in the group, led by Asia’s richest person Gautam Adani, have lost about $66 billion since Hindenburg Research flagged concerns […]

Ukrainians were urged on Monday to swap old light bulbs for free energy-efficient LED bulbs under a scheme intended to ease an energy shortfall caused by Russian attacks. Launching a programme backed by the European Union and aimed at replacing 50 million light bulbs, Economy Minister Yulia Svyrydenko said all adults would be able to […]

A $2.5 billion share sale by Adani Enterprises remains on schedule at the planned issue price, the company told news agency Reuters on Saturday, while sources said bankers were considering changes due to a market rout in the group’s shares. Bankers on the deal were considering extending the sale or cutting the issue price after […]

Richest Asian Gautam Adani’s group on Sunday expressed confidence that the Rs 20,000 crore follow-on share sale of its flagship firm will sail through despite a massive hammering of the conglomerate’s stocks following a scathing report by a US-based short seller. Group CFO Jugeshinder Singh said no change in offering price or schedule is being […]

The Public Works Department (PWD) has decided to install missing lights on street poles and replace sodium lights with LED smart lights on the Outer Ring Road bypass from IG Stadium to Geeta Colony Bridge. This comes days after a series of reports by The Indian Express on dark spots in the national capital – […]