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NEW DELHI (Reuters) -Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a U.S. short-seller's criticisms wiped billions ...
Since Jan. 24, 2023, Adani Energy Solutions is down 71.32%, Adani Total Gas has lost 82.7%, and flagship Adani Enterprises is down about 30%. Adani Ports and Adani Power are up about 51% and 105% ...
On Monday, most Adani-backed stocks pared gains from early trade, with Adani Energy Solutions reversing course to trade down about 2%. Eight of 10 Adani stocks were trading in the green at 0643 GMT.
Adani Cement is wholly-owned subsidiary of Adani Enterprises and has not begun its business operations. [ 32 ] [ 33 ] It was reported in June 2021 that the Adani Group planned to set up a cement plant in Maharashtra which will have an initial capacity of 5-Million tonnes per annum with an approximate investment of ₹900-1,000 crore. [ 34 ]
The report was released ahead of Adani Enterprises' follow-on public offering, which opened on Friday, 6 pm, 27 January 2023. [47] The Adani Group's CFO (Jugeshinder 'Robbie' Singh) [48] stated that the timing of the report's publication was a "brazen, mala fide intention" to damage the offering. [47]
The Adani group became India's largest private coal mining company after Adani Enterprises won the Orissa mine rights in 2010. [29] Operations at the Port of Dahej commenced in 2011 and its capacity subsequently grew to 20 Mt. The company also bought Galilee Basin mine in Australia with 10.4 gigatonnes (Gt) of coal reserves. [30]
Hindenburg Research's founder said he would disband the firm whose reports sparked heavy selling by investors and investigations by authorities, wiping billions from the market values of companies ...
This came at a time where share prices of Adani Group listed companies declined steeply due to the report released by Hindenburg Research in January that year. At that time, GQG's emerging market fund had 34% of its investments in Indian companies. [4] In June, GQG bought a stakes worth US$1 billion in Adani Enterprises and Adani Green Energy. [11]