INVESTOR CONFIDENCE ADANI
Charges against Adani in bribery case can be withdrawn if deemed unworthy after Trump takes over as President
Gautam Adani's bribery case may be dropped if Trump wins. Attorney Ravi Batra suggests Trump's administration could view the case as "lawfare". Trump's new Justice Department and SEC could withdraw charges. The case involves alleged bribes to Indian officials and misleading US investors. Trump's appointments will impact the case's future.
S&P Ratings says US allegations may renew questions on governance practices at Adani
S&P Global Ratings warns that the US indictment of Adani Group's founder Gautam Adani over bribery allegations could harm the conglomerate's reputation and financial standing. The indictment has already impacted Adani Group's stock and bond prices, leading to cancelled bond sales.
MSCI rejig today: Indian stocks to see $2.5 billion inflows, spotlight on HDFC Bank
Sensex surged over 1,135 points as MSCI's November 2024 index review boosts India's weight, attracting $2.5 billion in FII inflows, with notable additions like HDFC Bank, BSE, and Voltas.
Adani's Colombo Port Project under scrutiny amid Sri Lanka's shift in stance
Despite a recent indictment against Adani Group, the Sri Lankan government is considering moving forward with a deepwater container terminal project in Colombo. The project, a joint venture involving Adani, has faced scrutiny but is seen as a potential boost to investor confidence in the country's economy.
Plea filed in Supreme Court to take US bribery charges against Gautam Adani on record
The US Supreme Court is now involved in the Gautam Adani bribery scandal. A new plea alleges that Adani bribed Indian officials to secure solar energy contracts, echoing accusations made by US prosecutors and the SEC. The plea urges a thorough investigation and a conclusive report from the Securities and Exchange Board of India (SEBI) to maintain investor confidence.
Is double-engine good? 5 things for stock market investors to track after a thumping BJP-led alliance's Maharashtra win
The BJP-led Mahayuti alliance stormed to a thumping win in India's richest state of Maharashtra after a disappointing show in the general elections last year.
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Market has bottomed out for 2024, expect gradual recovery ahead: Sandip Sabharwal
Sandip Sabharwal believes that the positive outcome of the Maharashtra election, with the ruling party securing a larger mandate, could boost market confidence. This result suggests public approval of economic policies and potential for continued growth. Coupled with the market's recent dip, Sabharwal suggests this could signal a bottom for 2024, paving the way for incremental market improvement.
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.
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.
Adani's troubles: Global banks weigh halting fresh credit to Adani after U.S. indictment
Global banks are reassessing their lending to India's Adani Group. This follows fraud charges against its founder, Gautam Adani, by US prosecutors. Banks may pause new loans but retain existing ones. The situation is being closely monitored for its impact on the group's finances and fundraising plans. The Indian government's response is also being watched closely by these international banks.
S&P downgrades outlook on three Adani Group firms amid US indictment
S&P Global Ratings has downgraded the outlook for three Adani Group companies following US authorities indicting founder Gautam Adani on bribery and fraud charges. The allegations have triggered market losses and raised concerns about the group's corporate governance, potentially impacting its operations and credit profile.
PSU bank stocks rally 2% as investor confidence returns
Public sector bank stocks, led by SBI, Bank of Baroda, and PNB, rebounded 2% on Friday after investor confidence returned, easing concerns over exposure to the Adani Group and boosting sentiment.
Adani bonds fall, Vedanta's issue may also face delay
Adani Green Energy's March-issued bond offering 6.7% dropped as much as 15 cents, trading at 78/79 cents on the dollar in the early trades. This saw some recovery and closed at 82/83 cents from 94 cents Wednesday.
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.
Gautam Adani's wealth plummets by over $12.4 billion: Hindenburg d¨¦j¨¤ vu on the anvil?
Gautam Adani and associates were indicted in New York for allegedly bribing officials to secure solar energy contracts. The charges led to a $12.4 billion drop in Adani's net worth and sent Adani Group stock plummeting, sparking concerns about the company's financial stability and casting a shadow over its future in renewable energy.
Not sure if covenants violated: SECI on being named in Adani bribery case
India's SECI, named in Adani bribery allegations, stated it hasn't received any documents regarding the charges and is unsure of any covenant violations. Adani Group refuted the US authorities' allegations of a $250 million bribery scheme, deeming them baseless and committed to legal recourse while upholding its governance and compliance standards.
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.
Adani offers dollar bond again after earlier deal postponed
Billionaire Gautam Adani¡¯s conglomerate launched a dollar bond sale on Wednesday, following a delay last month due to investor concerns over pricing. Adani Green Energy Ltd., part of the group¡¯s clean-energy business, is marketing a 20-year $600 million note with a yield of around 7.75%, higher than the initial 7% guidance for the postponed October deal.
Shapoorji Group in talks for Rs 8,000 crore raise via bonds
PFC directors questioned the legal constraints on transferring Tata Sons shares in the event of a default. ET had earlier reported that Tata Trusts had stated that Tata Sons shares are not freely transferable.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 38%
Whether the market is in the grip of bulls or bears, always be cautious and selective. Now, when the street is bearish and in the red, you need to be cautious so as not to be caught up in the short-term narrative and sell at the wrong time. Also, avoid the urge to average out. As an investor, look at every sector and company in terms of both their operating and valuation matrices. If the operating matrix is showing an improvement, that¡¯s good ¨C you can ignore the bearish noise on the street. Our selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars ¨C earnings, fundamentals, relative valuation, risk, and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Big movers on D-Street: What should investors do with ITC, ACC and Adani Wilmar?
Benchmark indices Sensex and Nifty extend losses for the fourth consecutive day amid disappointing earnings and continuous FII outflows. Key stocks in focus include ITC, which has broken crucial support levels; ACC, nearing critical support after disappointing earnings; and Adani Wilmar, showing positive momentum post-Q2 earnings.
Which Adani Group stock can give 40-50% return? What Tata stocks to work well now? Deven Choksey answers
Deven Choksey, MD of DRChoksey FinServ, sees strong investment potential in Tata and Adani Group companies. He mentions Tata Motors, Tata Power, and Indian Hotels as promising prospects. In the Adani Group, he highlights Adani Enterprises and Adani Ports for their growth potential. He also expresses confidence in the future of Indian IT companies and Kotak Mahindra Bank.
Adani group is back again selling green bonds in dollar market
nits of the group¡¯s clean-energy business, Adani Green Energy Ltd. are marketing a green 20-year note in the US currency on Tuesday, as that business ramps up spending to boost capacity. Proceeds from the proposed bond will be used to repay foreign-currency loans, according to a person familiar with the matter who asked not to be identified.
Adani flagship¡¯s $1.3 billion share sale said to start next week
Gautam Adani¡¯s Adani Enterprises Ltd. plans a $1.3 billion share sale via a qualified institutional placement starting as early as Oct. 7. The move follows a short-seller's 2023 allegations of fraud, which led to a significant stock drop. The share issue aims to signal investor confidence and revive expansion efforts.
What should investors do with insurance stocks? Deven Choksey answers
?So, yes, on one side you are seeing the new age investment taking place, on other side the industry is supporting the new age investment with a higher amount of supply to some of the infrastructure play that we are talking about.
Adani Enterprises kicks off first bond sale aimed at individuals
Adani Enterprises Ltd. opens its first bond issuance for individual investors, aiming to raise up to 8 billion rupees. The issuance comes after a challenging period following a short seller attack last year. The funds will be used primarily to repay debt and for general corporate purposes.
Regulatory failures can cause long-term damage to investor confidence: Congress amid SEBI row
Congress flagged potential threats to investor confidence following allegations against SEBI's Madhabi Buch. The issues involve regulatory failures and conflicts of interest, especially in Adani Group's investigations. Emphasis was placed on maintaining market integrity and transparency, crucial for India's significant and growing young investor base.
What to do with Zomato, Suzlon, Adani Energy and 3 other stocks? Aamar Deo of Angel One decodes
Markets globally as well as domestically went into a tailspin last week, with the Japanese Nikkei tanking more than 12% on Monday, its worst performance since 1987. However, during the later half of the week, markets recovered, with Nifty ending the week down by 1.4% WoW.
Chatter doesn't matter: Has Adani been able to firewall himself?
Adani Group faced a tumultuous period after allegations by Hindenburg Research, but quickly recovered and regained market value. Recent accusations regarding a coal deal and ethical concerns have failed to impact the group's stocks significantly. Investors seem impervious to negative chatter as the group continues its growth journey.
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