Adani family infuses ₹6,661 crore into Ambuja Cements, raises stake in company
8 months, 3 weeks ago

Adani family infuses ₹6,661 crore into Ambuja Cements, raises stake in company

Hindustan Times  

Adani family, promoters of Ambuja Cement, infused ₹6,661 crore into the cement and building materials company under the Adani portfolio. Adani family increased their stake in the Ambuja Cement by 3.6 percent to attain 66.7 percent holding. "This strategic move underscores unwavering commitment to have robust capital management philosophy for the portfolio companies and the latest investment testifies the commitment by Adani family to boost future prospects and potential of cement vertical," Ambuja Cements said in a regulatory filing. Ajay Kapur, Whole Time Director and CEO, Ambuja Cements, said, “This infusion of funds provides Ambuja capital flexibility for fast-tracked growth, capital management initiatives and best-in-class balance sheet strength.” The company also said that the fund infusion will play a pertinent role in achieving the cement vertical's target capacity of 140 million tonnes per annum by 2028.

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History of this topic

Adani Group approves merger of Sanghi Industries, Penna Cements with Ambuja Cements
1 week ago

Adani Group approves merger of Sanghi Industries, Penna Cements with Ambuja Cements

Live Mint  

Ambuja Cements merger: The Adani Group-owned Ambuja Cements will merge the acquired companies Saurashtra-based Sanghi Industries and Andhra Pradesh-based Penna Cement Industries with itself. Ambuja Cements holds 58.08 per cent of Sanghi Industries' paid-up equity share capital. As part of the deal's completion, Ambuja Cements also executed a trade to acquire 54.51 per cent of the voting share capital from …

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors
2 weeks, 1 day ago

Adani Group announces to invest Rs 7.5 lakh crore in Rajasthan across sectors

India TV News  

Rising Rajasthan Global Summit: The Adani Group is planning to invest Rs 7.5 lakh crore across various sectors in Rajasthan, said Karan Adani, Managing Director of Adani Ports and SEZ Ltd on Monday at the Rising Rajasthan Global Summit held on Monday at the Jaipur Exhibition and Convention Centre in Sitapura. While speaking at the Rising Rajasthan Summit, Karan Adani …

Adani Group Shares Rally: Adani Ports Leads Gains As Sensex, Nifty Surge
3 weeks ago

Adani Group Shares Rally: Adani Ports Leads Gains As Sensex, Nifty Surge

ABP News  

Shares of seven Adani Group companies ended higher on Tuesday, with Adani Ports and Special Economic Zone leading the charge with a 6.02 per cent gain, emerging as the top performer among Sensex and Nifty firms. Other Adani Group stocks also witnessed upward movement on the BSE, with Ambuja Cements rising 5.15 per cent, ACC climbing 2.56 per cent, Adani …

Adani case fallout: CM Naidu promises action
1 month ago

Adani case fallout: CM Naidu promises action

Hindustan Times  

Andhra Pradesh promised on Friday to look into and “act” on charges that the Adani Group and its top executives paid massive bribes in the state for solar power contracts, while the Congress vowed to press for action in Parliament and global banks began reviewing fresh credit to the conglomerate, as fallout intensified from the US indictment of Gautam Adani …

Live tracking Adani Stocks: Six Adani stocks recover on Friday
1 month ago

Live tracking Adani Stocks: Six Adani stocks recover on Friday

The Hindu  

Shares in billionaire Gautam Adani’s conglomerate saw a partial recovery on Friday, following a sharp sell-off triggered by U.S. charges alleging the tycoon paid over $250 million in bribes to secure lucrative government contracts. On the Bombay Stock Exchange, several Adani Group stocks rebounded: Ambuja Cements gained 3.50%, ACC rose 3.17%, Adani Enterprises advanced 2.16%, Adani Ports increased 2.05%, Adani …

LIC loses nearly ₹12,000 crore in seven Adani shares in a day on Gautam Adani’s civil indictment news. Here’s how
1 month ago

LIC loses nearly ₹12,000 crore in seven Adani shares in a day on Gautam Adani’s civil indictment news. Here’s how

Live Mint  

Adani Group Stocks: Life Insurance Corporation of India, the country’s largest domestic institutional investor, saw its holdings in seven Adani stocks drop by nearly ₹12,000 crore following a sharp decline in group shares. According to a Reuters report, U.S. authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to …

Adani Group to invest $10 billion in US energy and infrastructure projects
1 month, 1 week ago

Adani Group to invest $10 billion in US energy and infrastructure projects

Live Mint  

Adani Group founder and chairman Gautam Adani said in a social media post on platform X on Wednesday, November 13, that the company will invest $10 billion in energy and infrastructure projects in the United States. The Adani Group Chair announced the company's aims to expand the partnership between India and the United States by leveraging its global expertise and …

Delhi HC dismisses ₹218 crore stamp duty order, ₹69 crore penalty notice against Ambuja Cements
1 month, 2 weeks ago

Delhi HC dismisses ₹218 crore stamp duty order, ₹69 crore penalty notice against Ambuja Cements

Live Mint  

In a big relief for Ambuja Cements, the Delhi High Court has set aside a show cause notice and order demanding ₹218.87 crore stamp duty and ₹69 crore penalty from the company, according to an ANI report. The order from the Collector of Stamps, Delhi directed Ambuja Cements to pay stamp duty worth ₹218,87,81,917.28 and a penalty of ₹69 crore …

Ambuja Sets Tough Targets to Fight Competition: A Strategic Expansion Plan for Cement Giant
1 month, 3 weeks ago

Ambuja Sets Tough Targets to Fight Competition: A Strategic Expansion Plan for Cement Giant

Live Mint  

Ambuja Cements Ltd is seeing results from its increased focus on inorganic growth. The company's consolidated volume grew by 8.4% year-on-year to 14.2 million tonnes (mt) in the September quarter (Q2FY25). This outpaces the industry's flat growth and sector leader UltraTech Cement Ltd's 2.7% rise in domestic grey cement volume to 26.4 mt.

Ambuja Cements Q1 profit at ₹789.63 crore, revenue at ₹8,311.48 crore
4 months, 3 weeks ago

Ambuja Cements Q1 profit at ₹789.63 crore, revenue at ₹8,311.48 crore

The Hindu  

Adani Group firm Ambuja Cements Ltd on July 31 reported a consolidated net profit at ₹789.63 crore for the first quarter ended in June 2024. The consolidated results of Ambuja Cements include the financial performance of its step-down firm ACC Ltd in which it owns around 51% stake and Sanghi Industries, a Gujarat-based company which the Adani group acquired last …

Birla's UltraTech buys stake in India Cements to compete with Adani Group, especially in South India
5 months, 3 weeks ago

Birla's UltraTech buys stake in India Cements to compete with Adani Group, especially in South India

Hindustan Times  

Kumar Mangalam Birla’s UltraTech Cement is acquiring a 23% stake in Chennai-based India Cements to counter the Adani Group’s buying spree, as the battle to dominate India’s cement sector, particularly in South India, intensifies. UltraTech Cement, India's largest cement maker, will pay ₹267 a share to purchase 7.06 crore shares of India Cements, adding up to a ₹1,885 crore deal. …

Government must ensure corporate takeovers are fair, monopolies are not created: Jairam Ramesh
6 months, 1 week ago

Government must ensure corporate takeovers are fair, monopolies are not created: Jairam Ramesh

The Hindu  

The Congress on June 15 said it is the government's responsibility to ensure that competition among corporates is not stifled, oligopolies or monopolies do not emerge and corporate takeovers are free and fair. “It is also the government’s responsibility to ensure that undue advantage arising out of access to political power is not exercised,” party general secretary Jairam Ramesh said. …

Ambuja Cements share price jumps 3% today, analysts bullish on Adani firm stock
6 months, 1 week ago

Ambuja Cements share price jumps 3% today, analysts bullish on Adani firm stock

Hindustan Times  

Ambuja Cements share price rose more than 3% to hit a 52-week high in early trade today. Emkay Global Financial Services maintained its preference for Ambuja Cements and retained its ‘Buy’ call for Ambuja Cements shares and March 2025 target price at ₹700 per share. Antique Stock Broking maintained a ‘Buy’ rating with Ambuja Cements share price target of ₹700 …

Ambuja Cements to acquire Penna Cement for ₹10,422 crore
6 months, 1 week ago

Ambuja Cements to acquire Penna Cement for ₹10,422 crore

The Hindu  

Ambuja Cements Ltd. said it had signed a binding agreement for acquisition of 100% shares of Penna Cement Industries Ltd. from its existing promoter group – namely P. Pratap Reddy and family – at an enterprise value of ₹10,422 crore. “This landmark acquisition is a significant step forward in Ambuja Cements’ accelerating growth journey,” Ajay Kapur, CEO & Whole Time …

Top five to corner 55 pc market share in cement sector
6 months, 1 week ago

Top five to corner 55 pc market share in cement sector

Deccan Chronicle  

Chennai: Amidst reports of Adani Group exploring more acquisitions in the cement sector, ICRA foresees further consolidation in the sector with top five companies cornering 55 per cent share by next year. According to ICRA, the market share of the top five cement companies witnessed a steep rise to 54 per cent as of December 2023 from 45 per cent …

Ambuja Cements’ acquisition of Penna Cement for ₹10,422 crore raises Adani’s cement market share by 8%
6 months, 1 week ago

Ambuja Cements’ acquisition of Penna Cement for ₹10,422 crore raises Adani’s cement market share by 8%

Live Mint  

Ambuja Cements, an Adani group firm on Thursday, June 13, announced the acquisition of Penna Cement Industries Ltd at an enterprise value of ₹10,422 crore. The acquisition will improve Adani group's share in the cement market pan-India by 2 per cent and 8 per cent in south India, according to a regulatory filing by Ambuja Cements to the stock exchanges. …

Adani Group stocks see ₹1.4 lakh crore gain today, zoom 16% as exit polls predict PM Modi's return
6 months, 3 weeks ago

Adani Group stocks see ₹1.4 lakh crore gain today, zoom 16% as exit polls predict PM Modi's return

Hindustan Times  

Adani Group stocks today: Shares of Gautam Adani's Adani Group surged as much as 16% today following exit polls which indicated that Prime Minister Narendra Modi's led BJP will win in the Lok Sabha elections. Adani Group stocks today: Gautam Adani speaks during an interview in Ahmedabad. Gautam Adani replaces Mukesh Ambani as richest Asian Individually, Adani Enterprises jumped 7 …

Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%
8 months, 1 week ago

Adani infuses ₹8,339 crore more in Ambuja Cements, raises stake to 70.3%

The Hindu  

Billionaire Gautam Adani’s family infused an additional ₹8,339 crore in Ambuja Cements, raising its stake in the company to 70.3%, to help the cement maker’s manufacturing capacity. “With this, promoters have further strengthened Ambuja post-acquisition, giving Ambuja capital flexibility for accelerated growth, capital management initiatives and best-in-class balance sheet strength to accomplish its various strategic initiatives,” the statement said. Besides …

Adani family infuses ₹8,339 crore in Ambuja Cements, raises stake to 70.3%
8 months, 1 week ago

Adani family infuses ₹8,339 crore in Ambuja Cements, raises stake to 70.3%

Hindustan Times  

Billionaire Gautam Adani and his family have infused an additional ₹8,339 cr in Ambuja Cements, the company said in a statement, raising their stake in the major cement-producing firm to 70.3 per cent. "We are thrilled to announce completion of Adani family's primary infusion of INR 20,000 Cr in Ambuja," said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements …

Why Ambuja Cements share price trading flat despite stock market crash?
8 months, 1 week ago

Why Ambuja Cements share price trading flat despite stock market crash?

Live Mint  

Stock market today: Despite stock market crash for the second day in a row, the Indian stock market, Ambuja Cements share price is trading flat during Monday deals. The Adani group company share witnessed some selling pressure in the early morning session, but despite the stock market crash today, Ambuja Cements share price bounced back strongly from its intraday low …

Adani Doubles Down on Cement: Gautam Adani infuses ₹6,661 crore to boost stake in Ambuja Cements to 66.7%
8 months, 3 weeks ago

Adani Doubles Down on Cement: Gautam Adani infuses ₹6,661 crore to boost stake in Ambuja Cements to 66.7%

Live Mint  

Indian billionaire Gautam Adani and his family injected $799 million to increase its stake in Ambuja Cements Ltd. as the business tycoon showed signs of confidence in its cement business amid the country’s infrastructure boom. The latest infusion of ₹6,661 crore by the Adani family came after their previous investment of ₹5,000 crore for exercising the warrants issuance approved by …

Adani Group to invest ₹1.2 lakh crore in FY 2024-25 through 11 companies
9 months, 1 week ago

Adani Group to invest ₹1.2 lakh crore in FY 2024-25 through 11 companies

Op India  

Adani Group plans to invest USD 14 billion in 2024-25 financial year through its portfolio of 11 listed companies, in developing the country’s infrastructure, according to sources. India’s largest infrastructure conglomerate with showcase projects like Navi Mumbai Airport, Ganga Expressway, world’s largest renewable park at Khavda and Mundra Port has committed a USD 100 billion investment over the next 7-10 …

Ambuja Cements to invest ₹6,000 crore in Green Power
1 year ago

Ambuja Cements to invest ₹6,000 crore in Green Power

Live Mint  

Ambuja Cements, the Adani Group cement and building material company, has committed a significant investment of ₹6,000 crore in renewable power projects, targeting a capacity of 1,000 MW. The lineup includes a 600 MW Solar Power project and 150 MW Wind Power project in Gujarat and a 250 MW Solar Power project in Rajasthan, Ambuja Cements said in a regulatory …

Adani Group to invest Rs 8700 crores in JDU-RJD-ruled Bihar across sectors
1 year ago

Adani Group to invest Rs 8700 crores in JDU-RJD-ruled Bihar across sectors

Op India  

On Thursday, the Adani Group announced a significant commitment to amplify its investments in Bihar, aiming to increase the conglomerate’s financial commitment to the state tenfold. Pranav Adani, Managing Director of Adani Enterprises, shared during the Bihar Business Connect 2023 event that the group plans to boost its current investment in the state from Rs 850 crore to a substantial …

Promoters raise $500 mn via Adani Green stake sale to QIA
1 year, 4 months ago

Promoters raise $500 mn via Adani Green stake sale to QIA

Live Mint  

MUMBAI : The promoters of Adani Group raised about $500 million by selling a part of their holdings in Adani Green Energy Ltd to investors, including INQ Holding Llc, a wholly owned unit of sovereign fund Qatar Investment Authority. Additionally, shares worth $7.18 billion or ₹59,436 crore and ₹2,532 crore are pledged by the promoters in Ambuja Cements Ltd and …

Adani plans $4-5 bn cement bet after Sanghi acquisition
1 year, 4 months ago

Adani plans $4-5 bn cement bet after Sanghi acquisition

Live Mint  

MUMBAI : Adani Group will invest $4 billion-$5 billion to expand its cement capacity to over 100 million tonnes in two years, two people aware of the matter said, on a day the conglomerate made yet another acquisition. “This landmark acquisition is a significant step forward in Ambuja Cements’ accelerating growth journey," said Gautam Adani, the chairman of Adani Group. …

Adani-owned Ambuja cements to buy majority stake in Sanghi Industries: Report
1 year, 4 months ago

Adani-owned Ambuja cements to buy majority stake in Sanghi Industries: Report

Live Mint  

In a bid to strengthen its presence in the cement industry, Adani-owned Ambuja Cements is all set to acquire a majority stake in operations of Sanghi Industries, reported Reuters. Enjoying the position of India's second largest cement producer after UltraTech Cement, Adani owns Ambuja and ACC Ltd. Enjoying its dominance in Gujarat, Sanghi holds a production capacity of 6.1 million …

Adani Group repays $2.65 billion loans to complete prepayment programme
1 year, 6 months ago

Adani Group repays $2.65 billion loans to complete prepayment programme

Live Mint  

The Adani Group has said that it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut the overall leverage in an attempt to win back investor trust after US short seller Hindenburg levelled allegations of stock price manipulation against the port-to-energy conglomerate. In a statement, the Adani group said it has repaid $2.15 billion of loans …

Adani Enterprises Shares Drop 8% as Traders Book Profit; What Should you Do Now?
1 year, 7 months ago

Adani Enterprises Shares Drop 8% as Traders Book Profit; What Should you Do Now?

News 18  

Adani Enterprises Share Price: The three-day rally in Adani Enterprises on Wednesday came to an abrupt halt as the Nifty stock lost up to 8% to hit day’s low of Rs 2425.85 on BSE as traders booked profits. This means Jain’s investment into four Adani Group companies in March has generated more than 65 per cent returns in less than …

Adani stocks soar; market cap jumps by ₹63,000 crore in a day
1 year, 7 months ago

Adani stocks soar; market cap jumps by ₹63,000 crore in a day

Live Mint  

Adani Group stocks continued dazzling on Tuesday, with most of them hitting their upper circuit levels in trade, as sentiment remain upbeat about the group stocks after the group got a clean chit from the Supreme Court panel. All 10 Adani stocks ended with gains with Adani Enterprises share price surging nearly 18 per cent to the intraday high of …

Adani stocks jump on SC panel report findings
1 year, 7 months ago

Adani stocks jump on SC panel report findings

Live Mint  

MUMBAI : Adani group stocks surged on Monday, led by flagship Adani Enterprises, with investor wealth rising by the most in almost nine months after a Supreme Court-appointed panel found no prima facie evidence of stock price manipulation as alleged by US short-seller Hindenburg Research. Six out of 10 Adani Group stocks hit their upper circuits, with the group market …

Brokerages hold mixed views on Adani-owned Ambuja Cements post Q4; check details
1 year, 7 months ago

Brokerages hold mixed views on Adani-owned Ambuja Cements post Q4; check details

Live Mint  

For the quarter that ended in March 2023, Ambuja Cements Ltd on Tuesday recorded a 1.5% increase in net profit to ₹502.4 crore. Nuvama Institutional Equities According to the brokerage's analysis, the company's Q1 EBITDA for calendar year 2023 was roughly 14% higher than predicted thanks to higher-than-expected volumes and cost savings, coming in at ₹788.3 crore. The management reiterated …

Ambuja Cements profit up at Rs. 502.4 cr, announces dividend
1 year, 7 months ago

Ambuja Cements profit up at Rs. 502.4 cr, announces dividend

Live Mint  

Adani Group’s newly acquired cement arm Ambuja Cements, on Tuesday, announced a mere 1.6% rise in net profit at Rs. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements said, “Our focus on operational excellence and cost optimisation measures has yielded improved profitability.” According to the exchange filing, Ambuja Cement’s revenue recorded a meek 8.4% increase at Rs. Adani Group, …

Ambuja Cements slips nearly 3% even after Adani prepays $500-million loan
1 year, 9 months ago

Ambuja Cements slips nearly 3% even after Adani prepays $500-million loan

Live Mint  

Shares of Ambuja Cements Ltd, a part of Adani Cement, dipped 2.89 per cent to touch an intraday low of ₹367.40 apiece during Monday's late noon deals even after Gautam Adani-owned conglomerate prepaid $500 million in loans taken for the acquisition of Ambuja Cement. Adani has made a formal request to international lenders to sell 4 per cent to 5 …

Adani repays $2.65 bn debt, releases Ambuja Cem share pledge
1 year, 9 months ago

Adani repays $2.65 bn debt, releases Ambuja Cem share pledge

Live Mint  

Billionaire Gautam Adani has fully repaid $2.15 billion of margin-linked, share-backed funding before its target 31 March deadline, the company said on Sunday. Additionally, Adani also prepaid a $500 million loan facility for acquiring Ambuja Cements Ltd, taking the total prepayment by the Adani family to $2.65 billion. “Adani continues to increase equity in Ambuja financing by prepaying $500 million …

Adani Group repays $2.15-billion loan due before March 31, prepays Ambuja Cements debt
1 year, 9 months ago

Adani Group repays $2.15-billion loan due before March 31, prepays Ambuja Cements debt

The Hindu  

In continuation of its prepaying the finance, the Adani Group has completed full pre-payment of margin-linked share-backed financing aggregating to $2.15 billion before March 31. “The entire prepayment programme of $2.65 billion has been completed within six weeks, which testifies the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudency adopted at all portfolio …

Adani repays $2.15 bn loan taken pledging shares, prepays another $500 mn loan for Ambuja cement
1 year, 9 months ago

Adani repays $2.15 bn loan taken pledging shares, prepays another $500 mn loan for Ambuja cement

India Today  

Embattled Adani Group on Sunday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme ahead of the March 31 deadline to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a statement, Adani group said it has repaid USD 2.15 billion of loans …

Adani seeks to sell stake in Ambuja Cement for $450 mn to reduce debt: Report
1 year, 9 months ago

Adani seeks to sell stake in Ambuja Cement for $450 mn to reduce debt: Report

Hindustan Times  

Gautam Adani is seeking to sell a stake in Ambuja Cement for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. The embattled Adani Group last year acquired Holcim AG's cement businesses in India – Ambuja Cements and ACC Ltd – for $10.5 billion, its largest-ever acquisition. Adani's latest move comes as the group …

Gautam Adani to sell stake in cement business for $450mn to reduce debt: Report
1 year, 9 months ago

Gautam Adani to sell stake in cement business for $450mn to reduce debt: Report

Live Mint  

Gautam Adani, the chairperson of the Adani Group, is planning to sell stake in the cement business for $450 million with aim to reduce debt, reported Financial Times. Adani is looking to sell 4-5 per cent stake in Ambuja Cement to international lenders, reported Financial Times quoting sources. Earlier, investment firm GQG Partners has bought stake worth ₹15,446 crore in …

Adani group says no refinancing issues in bid to calm jittery investors
1 year, 10 months ago

Adani group says no refinancing issues in bid to calm jittery investors

Hindustan Times  

Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller's critical report on its business practices. In a long-awaited credit report issued by Adani to Indian exchanges on Tuesday, the apples-to-airports group said there was "no material refinancing risk and near-term …

2 Adani Group stocks to buy as Jefferies remains bullish post Q3 results
1 year, 10 months ago

2 Adani Group stocks to buy as Jefferies remains bullish post Q3 results

Live Mint  

After their respective earnings for the third quarter ended December 2022, global brokerage Jefferies has recommended Buy ratings on two Adani Group stocks - Adani Ports and Special Economic Zone and Ambuja Cements. Jefferies on Ambuja Cements "Ambuja Cements management on results call indicated: around ₹100 bn capex over 18 mths on major efficiency initiatives/Cap upgrades; reiterated stance to double …

8 Adani Group firms shine, two underperform; Adani Enterprises jumps 13 per cent
1 year, 10 months ago

8 Adani Group firms shine, two underperform; Adani Enterprises jumps 13 per cent

India TV News  

Amid a political slugfest between Opposition parties and the ruling Bharatiya Janta Party, shares of most of the Adani group firms gained in late morning trade on Wednesday. The scrip of Adani Enterprises zoomed 13.07 per cent to Rs 2,038 apiece on the BSE, and its market capitalisation rose to Rs 2.32 lakh crore. Adani Ports Adani Ports and Special …

Ambuja Cements records PAT of ₹369 cr in Q4 on lower fuel costs, shares rally
1 year, 10 months ago

Ambuja Cements records PAT of ₹369 cr in Q4 on lower fuel costs, shares rally

Live Mint  

Ambuja Cement, now a part of Adani Cement, on Tuesday reported a 46% jump in standalone net profit at ₹368.99 crore for the quarter ended 31 December, 2022 as fuel costs fell and demand rose. “EBITDA margins expanded due to relentless focus on reduction in fuel and logistics costs by leveraging synergies with Group Companies,” Ambuja Cements CEO, Ajay Kapur …

As Adani stocks rout extends, what should investors do? Here’s what experts say
1 year, 10 months ago

As Adani stocks rout extends, what should investors do? Here’s what experts say

Live Mint  

The sell-off in Adani Group stocks entered a third week with flagship Adani Enterprises shares plummeting as much as 10%. Stock exchanges last week placed three Adani stocks - Adani Enterprises, Adani Ports and Ambuja Cements - on additional surveillance measure framework, making them subject to more stringent rules. “Adani stocks are in continuous sell off mode and smallest of …

Adani Group stocks fall further in morning trade
1 year, 10 months ago

Adani Group stocks fall further in morning trade

The Hindu  

Shares of Adani Group firms tumbled further on the bourses, with shares of Adani Enterprises witnessing a fall of 9.50% as investors continue to offload their holdings. Shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar were trading 5% down each on the BSE, while Adani Transmission slipped 10%. In addition, other Adani Group stocks, such …

Bears likely to ease off ahead of Adani Q3 results this week
1 year, 10 months ago

Bears likely to ease off ahead of Adani Q3 results this week

Live Mint  

Friday’s recovery in front line Adani group stocks such as Adani Ports, Adani Enterprises and Ambuja Cements could continue on Monday, with regulators, banks, and the finance minister all trying to calm investor nerves even as more surveillance measures are put in place to curb excessive speculation. “Adani Ports, Ambuja, and ACC could witness some value buying given their steep …

Adani Ent pulls FPO in surprise U-turn
1 year, 10 months ago

Adani Ent pulls FPO in surprise U-turn

Live Mint  

The board of Adani Enterprises Ltd scrapped its ₹20,000 crore follow-on public offering, citing investor protection concerns, as a massive selloff in Adani group stocks continued for a fifth day after a scathing report alleging accounting fraud and stock manipulation was released by a US short seller. A day after some family offices were said to have helped salvage the …

Adani Group calls off ₹20,000-crore FPO as stocks take a beating
1 year, 10 months ago

Adani Group calls off ₹20,000-crore FPO as stocks take a beating

The Hindu  

As it’s stocks plunged with flagship Adani Enterprises dropped by 28%, Ahmedabad based Adani Group late Wednesday, February 1, 2023 night decided to call of it’s ₹20,000 crore FPO in a rare move amidst growing impact of Hindenburg report raising allegations of “stock manipulation and accounting fraud.” The follow-on public offer was fully subscribed on the final day of the …

Adani no longer Asia’s richest person as stock rout continues
1 year, 10 months ago

Adani no longer Asia’s richest person as stock rout continues

Al Jazeera  

It’s dramatic setback for Adani, the school-dropout-turned-billionaire whose fortunes rose rapidly in recent years. Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as a rout in his companies deepened to $86bn in the wake of a US short-seller report, with the billionaire also losing his title as Asia’s richest person. After losing $86bn in recent days, equivalent …

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