Adani market losses snowball to $100 billion in delayed share sale

Adani market losses snowball to 0 billion in delayed share sale

NEW DELHI, Feb. 2 (Reuters) – Indian shares of the Adani group fell on Thursday after market turmoil forced the conglomerate to scrap a crucial $2.5 billion equity offer, extending market losses to more than $ 100 billion and concerns arose about the possible systemic impact. The pullback of the share sale of Adani Enterprises … Read more

Hindenburg bet against India’s Adani puzzles against US short sellers

Hindenburg bet against India’s Adani puzzles against US short sellers

Feb.1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued by the actual mechanisms of the trade, as Indian securities rules make it difficult for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. The allegations, which the Indian … Read more

Adani waives $2.5 billion share sale as major blow to Indian tycoon

Adani waives .5 billion share sale as major blow to Indian tycoon

NEW DELHI, Feb. 1 (Reuters) – Flagship Gautam Adani called off its $2.5 billion share sale on Wednesday in a dramatic turnaround as a defeat sparked by the criticism of a US short-seller saw billions more of its value of the Indian magnate’s shares wiped out. The withdrawal of the Adani Enterprises (ADEL.NS) share offering … Read more

India increases spending in final pre-election budget

India increases spending in final pre-election budget

NEW DELHI, Feb. 1 (Reuters) – The Indian government on Wednesday announced a budget of $550 billion for the next fiscal year starting April 1, setting out a plan for record investment while limiting the budget deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national election in … Read more

Gautam Adani loses Asia’s richest krone as share price plunge deepens to $84 billion

Gautam Adani loses Asia’s richest krone as share price plunge deepens to  billion

BENGALURU, Feb. 1 (Reuters) – Indian magnate Gautam Adani lost his title of Asia’s richest person on Wednesday as a defeat in his conglomerate’s largest companies deepened to $84 billion in the wake of a short-seller report. A report from Hindenburg Research last week alleged the group’s improper use of offshore tax havens and stock … Read more

Adani’s crucial share sale 85% subscribed as institutions pumped funds

Adani’s crucial share sale 85% subscribed as institutions pumped funds

MUMBAI, Jan. 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale moved closer to full subscription on Tuesday as investors pumped in cash after a tumultuous week for his group in which the shares were ravaged by a destructive short-seller -report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was 85% underwritten … Read more

Adani’s $2.5 billion share sale looms on a pivotal day after the defeat

Adani’s crucial share sale 85% subscribed as institutions pumped funds

NEW DELHI, Jan. 29 (Reuters) – Gautam Adani faces a critical day on Monday as the second day of the $2.5bn share sale of his flagship company was overshadowed by a $48bn price drop in the Indian billionaire’s stock, which was fueled by a report from a US short seller. Seven publicly traded companies belonging … Read more

Adani hits back at Hindenburg saying it did all the revealing

Adani hits back at Hindenburg saying it did all the revealing

Adani publishes 413-page refutation of the Hindenburg Report The US short-seller’s report led to declines in Adani shares Adani says complies with laws, necessary disclosures Adani CFO is confident that the $2.5 billion share sale will succeed NEW DELHI, Jan. 30 (Reuters) – India’s Adani Group on Sunday issued a detailed response to a report … Read more

India expects more clashes with Chinese troops in the Himalayas

India expects more clashes with Chinese troops in the Himalayas

NEW DELHI, Jan. 28 (Reuters) – A security assessment by Indian police in the Himalayan region of Ladakh says there could be more clashes between Indian and Chinese troops along their disputed border there as Beijing ramps up military infrastructure in the region. At least 24 soldiers were killed when the armies of the Asian … Read more