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Adani shares have been on a wild ride since January 2023, when the U.S. short-selling firm Hindenburg Research accused the Adani Group of engaging in brazen stock manipulation and accounting fraud.
Shares of companies related to Adani, including his flagship Adani Enterprises, Adani Green Energy, and Adani Ports and Special Economic Zone Ltd., crashed 20% in under two hours of trade on Thursday.
Of 10 listed companies that have lost about $33 billion in market value since the indictment, Adani Green has been the hardest hit, giving up about $9.7 billion. The stock was down 7.5% on Tuesday.
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]
Adani Group (Hindi: [əd̪aːniː], Gujarati: [əd̪aɳiː]) is an Indian multinational conglomerate, headquartered in Ahmedabad.Founded by Gautam Adani in 1988 as a commodity trading business, the Group's businesses include sea and airport management, electricity generation and transmission, mining, natural gas, food, weapons, and infrastructure. [12]
Adani Ports and Special Economic Zone Limited (APSEZ) is an Indian multinational port operator and logistics company, part of Adani Group. [9] [10] APSEZ is India's largest private port operator with a network of 12 ports and terminals, including India's first port-based SEZ at Mundra and the first deep water transshipment port at Thiruvananthapuram.
Adani stocks deepened losses on Tuesday, with Adani Green the hardest hit, closing 7.3% lower. ... Prices on some of the more liquid Adani Ports debt maturing between 2027 and 2041 were up between ...
In 2022 and was merged with NDTV Profit of NDTV which is part of Adani Group in December 2023. [5] Its main content was based on the Indian economy, international finance, corporate law and governance and business news. Within six months of going live, the web portal had one million monthly users, and there were plans to open a free-to-air TV ...