NEW DELHI: Financial contagion fears spread in India on Friday (Feb 3) as the Adani Group’s crisis worsened, with ratings agency Moody’s warning the conglomerate may struggle to raise capital and S&P cutting the outlook on two of its businesses. Chaotic scenes in both houses of India’s parliament led toContinue Reading
MUMBAI: Shares in the flagship company of beleaguered Native indian tycoon Gautam Adani were repeatedly suspended on Friday (Feb 3) as a rout triggered by accusations of accounting scams deepened. Adani Enterprises fell ten per cent at the open up and plunged by as much as 25 per centContinue Reading
MUMBAI: Shares in the flagship firm of beleaguered Indian tycoon Gautam Adani were repeatedly suspended on Friday (Feb 3) because the rout triggered by allegations of human resources fraud deepened. Adani Enterprises dropped 10 per cent on the open and stepped by as much as 25 percent at oneContinue Reading
KUALA LUMPUR: United States traditions authorities said that palm oil products made by Sime Darby Plantation had been no longer produced along with forced labour, inside a sign that a two-year import ban at the Malaysian firm will certainly soon be raised. Goods made by Sime Darby Plantation, the world’sContinue Reading
NEW DELHI: Adani’s marketplace losses swelled over US$100 billion upon Thursday (Feb 2), sparking worries in regards to a potential systemic influence a day after the Native indian group’s flagship company homeless its US$2. five billion stock providing . Another challenge for Adani on Thursday came whenever S& PContinue Reading
Since the Jan 24 Hindenburg report which alleged improper use by the Adani Group of offshore tax havens and stock manipulation and also raised concerns about high debt, the market capitalisation of seven listed Adani Group companies has fallen by half or nearly US$100 billion. Its dollar bonds have tumbled. ToContinue Reading
NEW DELHI: India’s central bank has asked local banks for details of their exposure to the Adani group of companies, government and banking sources said on Thursday (Feb 2). India’s central bank and stock market regulator have sprung into action more than a week after US short-seller Hindenburg Research’s reportContinue Reading
What continues to be the result? The report offers sparked a huge sell-off in shares in Adani’s firms, wiping out more than US$68 billion in their market value, according to Bloomberg Information. Trading in some stocks was temporarily stopped. Adani’s private wealth has dove by around US$40 billion and heContinue Reading
NEW DELHI: India’s Adani Group issued a detailed response on Sunday (Jan 29) to a Hindenburg Research report that sparked a US$48 billion rout in its stocks, saying it complies with all local laws and had made the necessary regulatory disclosures. The conglomerate led by Asia’s richest man, the IndianContinue Reading
Shares in the business empire of Asia’s richest man Gautam Adani nosedived after a US investment firm claimed it had committed “brazen” corporate fraud.Continue Reading