ADANI NEWS
Adani Bribery Case: Here are 5 setbacks that followed post indictment
The Adani Group faces setbacks as global banks consider halting new credit lines following a US indictment alleging bribery. Indian regulators are investigating potential disclosure violations, while Kenya scrapped Adani projects. S&P downgraded the outlook for three Adani firms, and the group's stocks experienced a rout, though they partially recovered.
US charges against Adani, 7 others could lead to arrest warrants, extradition bid: Attorney
The US Department of Justice charged Gautam Adani, his nephew Sagar Adani, and others with bribery. They allegedly bribed Indian government officials to secure contracts worth billions of dollars. The US Securities and Exchange Commission also filed charges. Adani Group denied the charges and stated its compliance with all laws.
Market Wrap: RIL, IT stocks fire Sensex 1,960 points higher, Nifty tops 23,900. Top 6 factors behind the bull run
Stock Market Today: Indian equity markets surged over 2,000 points, rebounding from a five-month low, driven by positive US job market data and a rally in IT and Adani stocks. Investors capitalized on recent declines, buying into a market buoyed by global gains and a resurgence in PSU bank stocks.
Gautam Adani is facing the biggest trial of his life
Adani, once kidnapped for ransom in 1998 and later a hostage during the 2008 Mumbai terror attack, went on to build one of India's largest business empires - spanning ports, energy, and infrastructure. He now finds himself in the middle of a legal investigation after US prosecutors charged him with bribery and securities fraud. His group faces ongoing controversies, including environmental protests and a major stock scandal, challenging his global ambitions.
Sebi investigating whether Adani Group flouted disclosure rules: Report
India's market regulator, SEBI, is investigating Adani Green Energy Ltd. for potential disclosure violations regarding a US Justice Department bribery probe. The investigation centers on whether Adani Green adequately informed investors about the investigation and its scope, particularly the involvement of individuals linked to the Adani Group.
ACC, Adani Enterprises among 6 Adani Group stocks where FIIs cut stakes in CY2024
Foreign Institutional Investors (FIIs) have been reducing their holdings in several Adani Group stocks over the past three quarters, while increasing stakes in others. This comes amidst allegations of bribery and fraud against Adani Group Chairman Gautam Adani by the US Securities and Exchange Commission, leading to a significant drop in the company's market value.
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Who is Sagar Adani and what is his relation to Gautam Adani?
Gautam Adani and his nephew, Sagar Adani, face charges in a US court. They are accused of bribery and fraud in a renewable energy project. US authorities claim they paid millions in bribes to Indian officials. The Adani Group denies the allegations. The case involves a solar energy project and bond offerings.
Stocks in news: Adani Enterprises, Adani Green, JSW Energy, Afcons Infra, Tata Power
Shares of Adani Enterprises, Adani Green and few other group stocks will be in focus following a sharp 20% fall on Thursday due to US indictment against Gautam Adani.
No direct agreement with Adani, says YSRCP on allegation of bribe for power purchase
The YSRCP clarified that the Andhra Pradesh government had no direct agreement with the Adani Group regarding solar power contracts. The party stated that the power purchase agreement was signed between Solar Energy Corporation of India Ltd (SECI) and AP Discoms, with the approval of regulatory bodies.
NSUI stages protest against industrialist Gautam Adani
The NSUI, Congress's student wing, held a protest demanding the arrest of Gautam Adani over corruption allegations. They accused the government of shielding Adani and promoting crony capitalism. The protest also highlighted student concerns like recruitment transparency and scholarship restoration.
Azure Power responds to US SEC allegations of bribery involving Adani Green
Hours after U.S. prosecutors charged Indian billionaire Gautam Adani and seven others, including former Azure Power officials, in an alleged bribery scheme related to a renewable energy project in India, Azure Power issued a statement reaffirming its commitment to strong governance standards.
Charges against Gautam Adani in bribery case credit negative for Adani companies: Moody's
Gautam Adani and seven others were indicted in a US bribery case. Moody's said the indictment is credit negative for Adani Group companies. Adani Group stocks and dollar bond prices fell sharply. Adani bull GQG Partners said it was reviewing the emerging details. GQG's statement came after its stock tumbled 26% in Australia.
Adani bull GQG caught in cross-firing as shares crash 26%, may review portfolio
GQG Partners Share Price: GQG Partners, an investment firm that heavily invested in Adani stocks, is reviewing its portfolio following U.S. prosecutors indicting Gautam Adani and others on bribery charges. GQG's shares plummeted 26% after the news, while Adani Group stocks fell by up to 20% in India.
$12 billion bill for $265 million bribe charges! How Gautam Adani can fight back
Indian billionaire Gautam Adani and Adani Group executives are facing US charges. They are accused of bribing Indian officials to secure power supply contracts. The charges caused a significant drop in Adani's net worth and impacted Adani Group company stocks. Adani Group denies the allegations and plans to pursue legal options, including a potential settlement.
Rs 2.24 lakh crore gone! Adani stocks record worst day since Hindenburg crisis
The Adani Group experienced its worst trading day since the Hindenburg controversy, with a Rs 2.24 lakh crore market cap drop following bribery charges against Gautam Adani and other executives by US prosecutors. Adani's net worth plunged by $12 billion, and shares of Adani companies plummeted, impacting bond markets and prompting concern from investors like GQG Partners.
Adani Group denies allegations by US officials, says all possible legal recourse will be sought
The Adani Group refuted allegations by US authorities of a $250 million bribery scheme involving Indian officials. The conglomerate labeled the charges as "baseless" and pledged to pursue legal action. US prosecutors and the SEC accused Gautam Adani, his nephew, and a former Adani Green Energy CEO of orchestrating the scheme to secure solar energy contracts.
Adani Ports shares sink 20% as Gautam Adani faces US bribery charges
Adani Ports Share Price: Shares of Adani Ports & Special Economic Zone plunged 20% to Rs 993.85 on Thursday after U.S. prosecutors indicted Gautam Adani, his nephew Sagar Adani, and six others on charges of bribery and fraud. The indictment claims the group offered $265 million in bribes to Indian officials to secure solar contracts, potentially generating $2 billion in profits over 20 years.
Gautam Adani¡¯s wealth drops over $10 billion in a day amid U.S. bribery scandal
Billionaire Gautam Adani, chairman of the Adani Group, saw his net worth drop by $10.5 billion to $59.3 billion in a single day, following bribery and fraud charges brought by U.S. authorities. His brother, Vinod Adani, also faced a significant loss of $4.7 billion, reducing his net worth to $15.5 billion.
PSP Projects shares dip 9% as Adani Infra to buy 30% stake in company
PSP Projects share price: Adani Infra is set to acquire a 30.07% stake in PSP Projects from existing shareholder Prahladbhai S. Patel. The deal aims to boost PSP Projects' growth in the Indian infrastructure sector, with Adani planning significant investments. PSP Projects will retain its current leadership, but Adani Infra will gain equal board representation.
Stocks in news: Airtel, Vedanta, Godfrey Phillips, UPL, Adani Enterprises
Fitch Ratings has maintained its 'B-' rating for Vedanta Resources Ltd (VRL), the parent of Vedanta, while assigning a positive outlook that signals potential upward momentum.
Stocks in news: Hero MotoCorp, Grasim, Delhivery, RIL, Ola Electric
India's leading two-wheeler maker Hero MotoCorp reported 14% growth in its standalone net profit at Rs 1204 crore in the second quarter
Adani Energy shares fall 10% on getting bad news from MSCI
MSCI did not include Adani Energy Solutions in its Global Standard Index. This followed a show cause notice issued by SEBI to Adani Energy Solutions. MSCI also reduced the float in Adani Green Energy and Adani Power. Five other Indian companies were included in the index. MSCI increased the weightage of HDFC Bank.
Stocks in news: Tata Investment, Tata Power, L&T, Wipro, Biocon
The company reported a net profit (before exceptional items) of Rs 1533 crore in the September 2024 quarter, compared with Rs 1,017 crore in the year-ago quarter. This is an increase of 51% year-on-year.
Stocks in news: Maruti, Adani Enterprises, Adani Ports, Airtel, Tata Power, HDFC Bank
Shares of Bharti Airtel are expected to be in focus on Tuesday as the company reported strong Q2FY25 earnings though they were below Street's estimates.
Stocks in news: Airtel, Sun Pharma, Adani Power, IDFC First Bank, YES Bank, ICICI Bank, ITD Cementation
State-run REC reported a 6.5% rise in its September quarter consolidated net profit at Rs 4,038 crore versus Rs 3,790 crore reported by it in the year ago period.
Stocks in news: Coal India, JSW Steel, ITC, IndiGo, Shriram Properties
Diversified conglomerate ITC Ltd reported net profit of Rs 4,993 crore in the quarter ended September 2024. This is a jump of 2% from Rs 4898 crore reported in the previous year quarter.
Stocks in news: ITC, Adani Wilmar, HUL, United Spirits, Adani Power
Adani Power will consider raising funds worth Rs 5,000 crore by way of public issue and/or private placement of non-convertible debentures (NCDs) in one or more tranches.
Stocks in news: Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial
Shares of SBI Life, HUL and Bajaj Finserv will be in focus as the companies will announce their quarterly results for the July-September 2024 period.
Stocks in news: Zomato, Paytm, Bajaj Finance, Ola Electric, Eicher Motors
Shares of Bajaj Finance, Adani Green, Zomato, Paytm, Adani Energy Solutions, Varun Beverages and ICICI Pru Life will be in focus ahead of the second quarter results today.
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