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Accused of fraud
- The Adani Group, one of India's largest conglomerates, has lost billions in market value after being accused of fraud.
www.npr.org/2023/02/10/1156166884/heres-what-happened-with-adani-and-what-the-fallout-could-be-for-indias-economyHere's what happened with Adani — and what the fallout could ...
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Why did Adani Group lose $110 billion?
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Why did Adani Group's share value decline in 2023?
Feb 11, 2023 · The market resilience has reinforced a reality that the rest of Indian business would surely like to see highlighted more directly: that the Adani Group, a family-run infrastructure- and...
- Alex Travelli
Feb 2, 2023 · But the group's companies have seen $108bn wiped off their market value over the past few days. Mr Adani himself has lost $48bn of his personal wealth, and is now 16th on the Forbes...
- Key Points of Decline
- The Trigger: Hindenburg’s Renewed Allegations
- Market Reaction and Recovery
- The Bigger Picture
- Analysis: Why Adani Companies Shares Can Be A Good Buy
- Analysis: Why Adani Shares May Not Be A Good Buy
- Controversies Surrounding Adani Group: A Comprehensive Overview
The stocks that took the biggest hit included Adani Wilmar, Adani Energy Solutions, Adani Total Gas, and Adani Ports, all of which recorded substantial losses. Adani Wilmar, in particular, saw a decline of 4.1%, closing at INR 369, while Adani Total Gas dropped by 4%, ending at INR 836. Adani Enterprises, the flagship company of the group, fell by ...
The primary catalyst behind this market turmoil was the release of a new report by Hindenburg Research over the weekend. The report alleged that SEBI (Securities and Exchange Board of India) Chairperson Madhabi Puri Buch might not have conducted a thorough investigation into the alleged improprieties at Adani Group companies due to a potential conf...
Despite the initial panic, some Adani stocks managed to recover partially by the end of the trading day. Adani Green Energy even turned positive, rising by 0.2% to INR 1,785, while Ambuja Cements, another Adani Group company, gained 0.7%, closing at INR 636. However, the overall sentiment remained cautious, with investors wary of the ongoing contro...
The resurfacing of the Hindenburg report has once again put the Adani Group under intense scrutiny. Earlier this year, Hindenburg had published a damning report accusing the conglomerate of stock manipulation and accounting fraud, which had led to a massive sell-off in Adani stocks and wiped out billions of dollars in market value. The fresh allega...
Historical Returns: Several Adani companies have showcased exceptional historical returns, with some experiencing over 1,000% growth over the past five years. These returns may attract investors seeking significant capital appreciation. Market Capitalization: Adani Enterprises and Adani Green Energy both boast substantial market capitalizations, in...
High PE Ratios: Many Adani companies exhibit elevated PE ratios, signifying a premium valuation. This may deter value investors looking for stocks with lower valuations. Volatility:Several Adani companies have high beta values, indicating significant volatility. Investors with a low risk tolerance may be cautious about such stocks. Lack of Dividend...
Supreme Court Rejects Adani-Hindenburg Probe Demand
On Jan. 4, 2024, the Supreme Court dismissed demands for a court-monitored probe into allegations against Adani Group by Hindenburg Research. It cited SEBI’s comprehensive investigation, finding no regulatory failure. The court instructed the Centre to investigate losses sustained by Indian investors due to Hindenburg’s short positions. SEBI was directed to conclude pending investigations in three months. Petitions challenging regulatory amendments were dismissed, and conflict of interest all...
Coal Mining in Australia: Carmichael Coal Mine Project
In 2014, Adani launched a monumental mining and rail project known as the Carmichael coal mine in Queensland’s Galilee Basin, Australia. This venture came with a staggering price tag of $21.5 billion, spanning a project life of 60 years. With an annual capacity of 10 million tonnes of thermal coal, this project aimed to tap into Queensland’s vast coal reserves. Despite its ambition, the Carmichael project faced numerous hurdles. Activist pressure led to several international banks refusing to...
Cronyism Allegations: Gautam Adani and Political Ties
Gautam Adani, the Chairman and Managing Director of the Adani Group, has faced allegations of close ties to prominent Indian politicians, including former Chief Minister of Gujarat and Indian Prime Minister Narendra Modi and his political party, the Bharatiya Janata Party (BJP). These relationships have raised concerns about potential cronyism, particularly as Adani’s firms have been awarded numerous government contracts in the energy and infrastructure sectors. In 2012, an Indian government...
Feb 9, 2023 · His Adani Group lost more than $110 billion US in market value as investors jumped ship, and the 60-year-old tycoon's personal fortune also plunged by roughly half, dropping him from his...
Feb 7, 2023 · Now, Adani has seen billions of dollars wiped from his company’s value and his own net worth after a United States investment firm accused the Adani Group of stock manipulation and fraud. The...
Feb 2, 2023 · But the group's companies have seen $108bn wiped off their market value, external over the past few days. Mr Adani himself has lost $48bn of his personal wealth, and is now 16th on the Forbes...
Feb 2, 2023 · The Indian conglomerate lost billions in market value after being accused of perpetuating 'the largest con in corporate history'
