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Adani Ports and Adani energy plummeted 17 per cent, the conglomerate's flagship first Adani Enterprises was down 16%, Adani power, Ambuja cements, Adani total gas and Adani green energy were all down between 13 and 15%

Adani group stocks crash amid bloodbath on D-street

Adani Ports and Adani energy plummeted 17 per cent, the conglomerate's flagship first Adani Enterprises was down 16%, Adani power, Ambuja cements, Adani total gas and Adani green energy were all down between 13 and 15%

Amid the pressure on the stock market on election results day, shares of all Adani Group companies tumbled as trends showed BJP led NDA winning a lower number of seats than predicted in the exit polls. Adani Ports and Adani energy plummeted 17 per cent, the conglomerate's flagship first Adani Enterprises was down 16%, Adani power, Ambuja cements, Adani total gas and Adani green energy were all down between 13 and 15%. Just a day earlier, on Monday, the stock markets saw a sharp upmove on the back of the exit poll results. This also led to a spike across the Adani stocks. However, everything came crashing down on Tuesday when the final results trends did not tally with the exit polls data.

As per Bloomberg report, Adani group's debt pile has increased almost 21% and the proportion held by global banks increased to nearly a third over the past year

Adani group's debt spikes almost 21%, counts on global banks for funding

As per Bloomberg report, Adani group's debt pile has increased almost 21% and the proportion held by global banks increased to nearly a third over the past year

A new report by Bloomberg has claimed that Adani group's debt pile has increased almost 21% over the past year. The proportion held by global banks has increased to nearly a third.&nbsp;
Adani group's 29% of its borrowings in March were with global international banks. Along with this, the data also revealed that the group's repayment ability has improved.&nbsp;
As per Business Standard, the shifting state of its finances and creditor mix underscores just how swiftly billionaire Gautam Adani&rsquo;s group, based in the Indian state of Gujarat, has grown and how connected it has become internationally, with business interests as far away as Australia and Israel.&nbsp;
The Hindenburg report had affected the Adani group hugely. Despite the group's assurance to investors via meetings and repayment of debt, the conglomerate&rsquo;s stocks and dollar bonds have yet to fully recover from the selloff.&nbsp;
As per Bloomberg report, Adani firms have over the past few years improved on a key metric measuring a company&rsquo;s ability to service its liabilities. As per Business Standard, gross debt at seven main listed Adani firms rose 20.7% to ₹2.3 trillion ($28 billion) as of March 31. Bonds accounted for 39% of the group's borrowings as of March end. This is a 14% rise from 2016. Meanwhile, State Bank of India had an exposure of ₹ 27 billion to the group.

The last announcement of prepayment of share-backed financing of Rs 7,374 crore on March 7 was followed by more shares belonging to companies of the group being pledged as security for loans taken by the group's flagship firm

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

The last announcement of prepayment of share-backed financing of Rs 7,374 crore on March 7 was followed by more shares belonging to companies of the group being pledged as security for loans taken by the group's flagship firm

Embattled Adani Group 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 that were taken by pledging shares in the conglomerate's listed firms and also another USD 500 million in loans taken for the acquisition of Ambuja Cement.
The announcement comes within days of the group saying it has pre-paid Rs 7,374 crore (about USD 902 billion) loans that were taken pledging shares in four group companies. This has now been scaled up to USD 2.15 billion.
While Adani group has not detailed the source of money for repayment of loans, these came within days of the promoters selling minority stakes in four listed companies to US-based GQG Partners for Rs 15,446 crore.
"In continuation of promoters' commitment to repay the promoter leverage, Adani has completed full prepayment of margin linked share backed financing aggregating to USD 2.15 billion, well before the committed timeline of March 31, 2023," it said. "In addition to above, promoters have also prepaid a USD 500 million facility taken for Ambuja acquisition financing." This, it said, was in line with promoters' commitment to increase equity contribution and promoters have now infused USD 2.6 billion out of total acquisition value of USD 6.6 billion for Ambuja and ACC.
"The entire prepayment program of USD 2.65 billion has been completed within 6 weeks, which testifies the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudency adopted at all portfolio companies," the statement said.
The last announcement of prepayment of share-backed financing of Rs 7,374 crore on March 7 was followed by more shares belonging to companies of the group being pledged as security for loans taken by the group's flagship firm.

Stocks of Adani group companies saw a big spike on the back of the promoters selling Rs 15,446 crore worth of shares to U.S based boutique investment firm GQG. 




Adani group stocks rally after GQG buys ₹15,4446 cr worth of stake 

Stocks of Adani group companies saw a big spike on the back of the promoters selling ₹15,446 crore worth of shares to U.S based boutique investment firm GQG




Stocks of Adani group companies saw a big spike on the back of the promoters selling Rs 15,446 crore worth of shares to U.S based boutique investment firm GQG.&nbsp;
&nbsp;

Adani group stocks shot up on Friday, after the promoters sold shares worth Rs 15,446 crore ($1.8 billion) in four of its listed entities. The buyer was GQG Partners, which is a U.S based global equity-investment boutique firm.&nbsp;
GQG partners bought shares worth Rs 5,460 crore in Adani enterprises, Rs 5,282 crore in Adani ports, Rs 2,806 crore in Adani Green and Rs 1,898 crore in Adani transmission.&nbsp; &nbsp;
The proceeds from the share sale will be used by promoters for reducing debt and other purposes.&nbsp; Jugeshinder Singh, Group CFO of Adani Group, said: &ldquo;We are delighted to complete this landmark transaction with GQG. We value GQG&rsquo;s role as a strategic investor in our infrastructure and utility portfolio of sustainable energy, logistics and energy Transition. This transaction marks the continued confidence of global investors in the governance, management practices and the growth of Adani Portfolio of companies.&rdquo; Since January 24th, when the Hindenburg research was released, Adani group has been battling the repurcissions of the allegations made by the report. The report accused Adani group of stock price manupulation and accounting fraud, allegations which the Adani group has strongly denied.&nbsp; Meanwhile, the Hindenburg-Adani row reached the top court. And on Thursday, the Supreme Court ordered capital markets regulator SEBI to conduct a thorough probe and complete the investigation within two months. The top court also appointed an expert committee to oversee the investigation and also to look into if there was any kind of regulatory failure or if mechanisms needs to be strengthened to protect investors.&nbsp;&nbsp;
&nbsp;

Reserve Bank of India (RBI) is keeping a close eye on loans to the Adani group: report 

RBI eyes Adani's loans closely 

Reserve Bank of India is keeping a close eye on loans to the Adani group: report&nbsp;

The Reserve Bank of India is closely monitoring loans given out to Adani group of companies. As per a report by Mint, lenders have been asked to provide weekly updates on their financial exposure to the group.&nbsp;
Last month, RBI asked banks to share data on exposure to the Adani group after US-based short seller Hindenburg Research alleged accounting fraud and stock manipulation at its companies.
Its been a month since US-based short seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share-price manipulation on Adani Group. Accusations which the group has strongly denied. However, the conglomerate has shed more than $120 billion in market value since the allegations were made on 24 January.&nbsp;

How is the Adani group fighting back after facing its biggest crisis ever? We take a look in this episode of The India Story 

The India Story | Tracking the Adani Group Saga 

This week on The India Story, we take a look at the row around the Adani group, which is currently facing its greatest crisis ever. Triggered by an attack from a New-York based short-seller, the Hindenburg group, its stock value has plunged down and it’s lost around 110 billion dollars. The impact of this event, which was being felt by the markets already, has now also made it’s way to the parliament with a war of words taking place between in the Centre and the Opposition. 

In this episode, we’ll investigate some crucial questions - how is the Adani group fighting back, where does it stand and what impact will this have on India’s growth and place in the world. 

Also turning our gaze to the devastating earthquakes in Turkey and Russia, and the history of India-Turkey relations in regards to aid missions. 

On the show tonight, Vikram Chandra speaks with Nilesh Shah, Managing Director of Kotak Mahindra Asset Management on the Adani saga, the state of the markets and much more.

How is the Adani group fighting back after facing its biggest crisis ever? We take a look in this episode of The India Story&nbsp;

This week on The India Story, we take a look at the row around the Adani group, which is currently facing its greatest crisis ever. Triggered by an attack from a New-York based short-seller, the Hindenburg group, its stock value has plunged down and it&rsquo;s lost around 110 billion dollars. The impact of this event, which was being felt by the markets already, has now also made its way to the parliament with a war of words taking place between in the Centre and the Opposition.
In this episode, we&rsquo;ll investigate some crucial questions - how is the Adani group fighting back, where does it stand and what impact will this have on India&rsquo;s growth and place in the world.
Also turning our gaze to the devastating earthquakes in Turkey and Russia, and the history of India-Turkey relations in regards to aid missions.
On the show tonight, Vikram Chandra speaks with Nilesh Shah, Managing Director of Kotak Mahindra Asset Management on the Adani saga, the state of the markets and much more.

This week on the show, Vikram Chandra is joined by Nilesh Shah, MD of Kotak Mahindra Asset Management, on the Adani group row 

The India Story | In conversation with Nilesh Shah on the Adani Saga 

Nilesh Shah, one of the respected voices on the Indian stock market, tells Vikram Chandra why the Adani crisis does not seem to have made much of an effect on Indian markets.

This week on the show, Vikram Chandra is joined by Nilesh Shah, MD of Kotak Mahindra Asset Management, on the Adani group row&nbsp;

Nilesh Shah, one of the respected voices on the Indian stock market, tells Vikram Chandra why the Adani crisis does not seem to have made much of an effect on Indian markets.

The value LIC's investments into Adani group companies have turned negative after falling below their purchase value. 

Adani Row: LIC Investment in Adani Group Stocks turn negative

Adani Group - Hindernburg row: LIC Investment in Adani Group Stocks ‘Turn Negative’

The value LIC's investments into Adani group companies have turned negative after falling below their purchase value.&nbsp;

For the first time, the value of LIC's holdings into the Adani group companies has fallen below the price it was purchased.&nbsp; As per an Indian Express report, the market value of LIC's holdings in Adani group companies (excluding Ambuja and ACC cements) stood at Rs 29, 861 crore as of Thursday, which is close to 11% lower than the purchase value of Rs 30,127 crore.&nbsp;&nbsp;
Earlier, in January, LIC had disclosed that the value of its investments in the Adani Group stood at Rs 56,142 crore while the purchase value was Rs 30,127 crore. LIC had said its exposure in the Adani group was less than 1% of its portfolio.&nbsp;
Adani group companies' market capitalisation was over Rs 19 lakh crore on January 24, just a day before the Hindenburg research report was released. Since then, the group's market cap has been eroded by over 60%.&nbsp;
The Adani group stocks have been battered ever since the Hindenburg report was released nearly a month ago. The report alleged "stock manipulation and accounting fraud", accusations which were strongly denied by the Adani group.&nbsp; &nbsp;

A private Vinod Adani-controlled Singaporean entity pledged Adani promoter stakes for $240m in loans from a Russian bank

Adani's brother borrowed $263 mn on back of Adani stocks: Forbes

A private Vinod Adani-controlled Singaporean entity pledged Adani promoter stakes for $240m in loans from a Russian bank: Forbes

It's not been even a month of the Hindenburg Research report, which triggered a sell-off in Adani Group stocks that another controversy seems to have broken out involving Vinod Adani, the elder brother of Gautam Adani.&nbsp;
Forbes has identified previously unreported transactions involving offshore funds with ties to Vinod Adani that appear designed to benefit the Adani group as a whole.
According to Forbes, billionaire Gautam Adani's brother Vinod Adani's firm Pinnacle Trade and Investment borrowed $263 million from Russia's VTB Bank on back of Adani Group firms' shares.Pinnacle, which Vinod indirectly controls, offered Afro Asia Trade and Investments Limited and Worldwide Emerging Market Holding Limited as loan's guarantors. Both funds together hold $4 billion in Adani stocks.

Gautam Adani-led group's flagship firm Adani Enterprises reported a swing to profit in the quarter ending December 2022 from a loss a year earlier 

Adani Enterprises back to profit in quarter earning, vows to cut leverage

Gautam Adani-led group's flagship firm Adani Enterprises reported a swing to profit in the quarter ending December 2022 from a loss a year earlier&nbsp;

Indian billionaire Gautam Adani's flagship firm Adani enterprises, returned to profit in the December quarter. Gautam Adani said that his businesses would bounce back from damaging corporate fraud allegations. Adani Enterprises posted a net profit of Rs 821 crore for the three months to December, up from a loss of Rs 11.6 crore from a year earlier, in a filing Tuesday.
Ever since the Hindenburg report was released, the group has seen a market cap eroison of $120 billion. Hindenburg Research last month accused Adani group of using offshore tax havens to manipulate stock prices.
In its results note, Adani Enterprises said that a short selle's report alleged certain issues against some of the Adani Group entities, which have been refuted in its detailed response on January 29. "Management of the group has assessed that no material financial adjustment arises to the consolidated financial results for the quarter and nine months ended 31st December, 2022 with respect to these allegations," Adani Enterprises said.
Indian regulators confirmed Monday that they were probing allegations raised in the report for potential instances of securities fraud and insider trading.
The conglomerate has been working to restore market confidence by pledging early repayment of $1.1 billion in loans, and shares in its listed entities have since recovered from their rout.
&nbsp;

Adani crisis unlikely to spill over to other Indian conglomerates as they fare well on key business parameters

Why the Adani crisis is likely to leave India’s other conglomerates unscathed

Why Adani crisis likely to leave India’s other conglomerates unscathed

Adani crisis unlikely to spill over to other Indian conglomerates as they fare well on key business parameters

The dramatic fall in the Adani Group company shares following allegations by Hindenburg Research is unlikely to spill over to other Indian conglomerates as they fare well on key business parameters, according to Bloomberg Economics. Most major companies, including Reliance Industries Ltd. and the Tata Group, scored higher than the ports-to-power conglomerate in a BE analysis of governance, liquidity and leverage conditions at India&rsquo;s top 17 business houses. Economists Abhishek Gupta said Adani is an outlier, not representative of India Inc. as a whole. Economists further added that India&rsquo;s conglomerates do not yet rank among global majors like Apple and Tesla. But neither are they about to collapse in a heap of governance failures.&nbsp;
The embattled Adani Group on Monday attempted to calm the market as a rout in its shares continued, saying its growth plans are intact, business plans are fully funded and it remains confident of delivering returns to shareholders.
Market value of the group's seven listed companies has halved since a January 24 report by US-based short-seller Hindenburg Research alleged that Adani pulled "the largest con in corporate history" using offshore tax havens and stock manipulation.
The Group has denied all allegations, calling them "malicious", "baseless" and a "calculated attack on India". It called Hindenburg the "Madoffs of Manhattan", referring to the late financier and fraudster Bernie Madoff.

India has reclaimed fifth place among the world’s top equity markets by value after being briefly usurped by France

India reclaims 5th spot among world's top equity markets

India's market at 5th spot in World as Adani shares tank

India has reclaimed fifth place among the world&rsquo;s top equity markets by value after being briefly usurped by France

As Adani Group shares saw a massive selloff, India has reclaimed fifth place among the world&rsquo;s top equity markets by value.
According to Bloomberg, India&rsquo;s market capitalization stood at $3.15 trillion on Feb 10th, inching back above France with the UK retaining seventh place.&nbsp;
The total value of India&rsquo;s market was about 6% lower than Jan. 24, the day before the selloff in Adani stocks began. While steps by the group to restore investor confidence have helped its shares reclaim some value, they remained $120 billion lower than before the rout.

Shares of Adani group of companies declined in morning trade on Monday, with flagship company Adani Enterprises falling over 4% 

Adani group battles to restore investor confidence

The Adani group is taking a series of steps to restore investor confidence. The group has pledged additional shares, cut revenue growth targets and are holding off on capital expenditure. 

Even as the shares of Adani group took a beating on Monday, the group is taking a series of steps to restore investor confidence. The group has pledged additional shares, cut revenue growth targets and are holding off on capital expenditure.&nbsp;

Adani group shares once again took a beating even as the group is battling to restore investor confidence.&nbsp;
The group is taking a series of steps including pledging additional shares, cutting revenue growth targets and holding off on capital expenditure.&nbsp;
As per reports, three of the group companies - Adani ports, Adani Green Energy and Adani Transmission - have pledged additional shares for SBI.&nbsp;
75 lakh additional shares have been pledged by Adani ports. SBICAP Trustee earlier held 0.65%. With this additional amount, the total goes up to 1%. Adani Transmission has pledged 13 lakh more shares, and Adani Green has pledged an additional 60 lakh shares.&nbsp;
SBICAP Trustee said it had received the pledges in its capacity as &lsquo;security trustee&rsquo; of the lenders of Adani Enterprises.&nbsp;
Meanwhile, an SBI spokespoerson said "such a share pledge is only as additional collateral security over and above the project assets and no additional finance is extended by SBI against such shares pledged".&nbsp;
In another move, as per a business standard report, the group has halved its revenue growth target and plans to hold off fresh capital expenditure. The group will aim for a revenue growth of 15% to 20%, down from the orginal target of 40% growth.&nbsp;
Adani group stocks took a beating once again on Monday. The group has seen a massive market cap erosison in the afthermath of the scathing Hindenburg report which accused the Adani group of &ldquo;brazen stock manipulation and accounting fraud&rdquo; The Adani group slammed the accusations, calling them baseless and discredited allegations. The group also threatened legal action and provided a 400-page rebuttal.&nbsp;
&nbsp;
&nbsp;

Sitharaman's comments come a day after the top court sought views of the Centre and market regulator SEBI on PILs alleging exploitation of investors and artificial crashing of the Adani Group's stocks. 

India's regulators seized of the matter, always on their toes; finance minister on Adani Group crisis

Sitharaman's comments come a day after the top court sought views of the Centre and market regulator SEBI on PILs alleging exploitation of investors and artificial crashing of the Adani Group's stocks.&nbsp;

Union Finance Minister Nirmala Sitharaman on Saturday said India&rsquo;s regulators are well-equipped to handle the situation that has arisen following a report by US-based short seller Hindenburg Research.
"India's regulators are very experienced and they are experts in their domain. Regulators are very seized of this matter. They are on their toes as always, not just now. So I will leave it there," Sitharaman said.&nbsp;
The finance minister was addressing the media after the Reserve Bank of India's central board of directors meeting in Mumbai.&nbsp;
Sitharaman's comments come a day after the top court sought views of the Centre and market regulator SEBI on PILs alleging exploitation of investors and artificial crashing of the Adani Group's stocks.&nbsp;
The next hearing on the matter will be on February 13

"We'll be calling them in sometime soon to know how are they managing the whole crisis," LIC chairman Kumar added.

Will seek an explanation from Adani Group soon says LIC chairman

"We'll be calling them in sometime soon to know how are they managing the whole crisis," LIC chairman Kumar added.

The LIC management will soon meet the top management of the crisis-ridden Adani Group and seek clarification on the crisis being faced by the diversified conglomerate, chairman M R Kumar said here on Thursday.
LIC's investment into Adani group firms' stock has come under criticism by the opposition parties as well as investors after US-based short-seller Hindenburg Research made a litany of allegations against the Gautam Adani-led group, saying its companies manage and manipulate share prices, run offshore shell companies for round-tripping and lacking in corporate governance practices.
"Though our investor team has already sought clarifications from the Adanis, our top management could contact them yet as we have been busy preparing the results. We are soon going to call them to meet us and explain. We want to understand what is happening in the market and in the group," the chairman told reporters at the earnings conference on Thursday.
"We'll be calling them in sometime soon to know how are they managing the whole crisis," Kumar added.
Kumar, however, refused to give a timeline of the meeting between LIC and Adani group officials.
(PTI)
Also Watch: <a href="https://www.editorji.com/business-news/lic-issues-statement-amid-concerns-over-exposure-to-adani-group-1675771775587">LIC issues statement amid concerns over exposure to Adani group</a>

Vikram Chandra breaks down how the Adani group is fighting back against recent allegations and the impact this saga will have on India's growth.&nbsp;

Decoded | The row surrounding the Adani group 

This week on The India Story, we take a look at the row around the Adani group, which is currently facing its greatest crisis ever. Triggered by an attack from a New-York based short-seller, the Hindenburg group, its stock value has plunged down and it’s lost around 110 billion dollars. The impact of this event, which was being felt by the markets already, has now also made it’s way to the parliament with a war of words taking place between in the Centre and the Opposition.  

Tune in to see Vikram Chandra's take on the Adani saga. 

Vikram Chandra breaks down how the Adani group is fighting back against recent allegations and the impact this saga will have on India's growth.&nbsp;

This week on The India Story, we take a look at the row around the Adani group, which is currently facing its greatest crisis ever. Triggered by an attack from a New-York based short-seller, the Hindenburg group, its stock value has plunged down and it&rsquo;s lost around 110 billion dollars. The impact of this event, which was being felt by the markets already, has now also made it&rsquo;s way to the parliament with a war of words taking place between in the Centre and the Opposition.&nbsp;&nbsp;
Tune in to see Vikram Chandra's take on the Adani saga.&nbsp;
&nbsp;

Seven of the group companies ended in the positive territory while three settled in the red on Wednesday

 Most Adani Group firms gain; Adani Enterprises rallies nearly 20%

Seven of the group companies ended in the positive territory while three settled in the red on Wednesday

Shares of most of the Adani Group companies ended higher on Wednesday, with the flagship company Adani Enterprises rallying nearly 20 per cent.
Seven of the group companies ended in the positive territory while three settled in the red on Wednesday.
In the last two trading sessions, Adani Group companies have recovered around Rs 70,000 crore in combined market capitalisation. The group stocks have lost around Rs 8.7 lakh crore or about 45 per cent of their combined market valuation since January 24, Manish Chowdhury, Head of Research at brokerage firm Stoxbox, said.
The US-based short-seller Hindenburg Research came out with its adverse report about Adani Group on January 24.
On Wednesday, shares of Adani Enterprises rallied nearly 23 per cent to Rs 2,163, also its upper price band on the BSE. It later ended at Rs 2,158.65 per share, up by 19.76 per cent.
The flagship company's market valuation rose Rs 40,601.14 crore to Rs 2.46 lakh crore.
Shares of Adani Ports and Special Economic Zone zoomed 8.34 per cent to end at Rs 599.45. The company's market valuation rose Rs 9,969.04 crore to Rs 1.29 lakh crore.

According to Fitch Ratings reports, Indian banks' exposure to Adani group is "insufficient in itself" to pose a substantial risk to their credit profiles

Banks' exposure to Adani group 'insufficient', face limited risk: Fitch 

According to Fitch Ratings reports, Indian banks' exposure to Adani group is "insufficient in itself" to pose a substantial risk to their credit profiles

Indian banks' exposure to Adani group is "insufficient in itself" to pose a substantial risk to their credit profiles, Fitch Ratings said on Tuesday.
Adani group has faced stock rout and questions after a US short seller Hindenburg Research came out with a damning report alleging financial and accounting fraud by the ports-to-energy conglomerate. Adani Group has denied all charges and threatened to sue Hindenburg.
"Fitch Ratings believes that Indian banks' exposure to the Adani group is insufficient in itself to present a substantial risk to the banks' standalone credit profiles," the rating agency said in a note.
Ratings of banks remain driven by expectations that the banks would receive extraordinary sovereign support if needed.
Fitch on February 3 stated that the controversy over the short-seller report had no immediate impact on the ratings of Fitch-rated Adani entities and their securities.
"Even under a hypothetical scenario where the wider Adani group enters distress, exposure for Indian banks should, in itself, be manageable without adverse consequences on the banks' viability ratings," Fitch said.
State Bank of India last week stated that its share of the group's loans had fallen to 31 per cent by 2022-end from 55 per cent in 2016.

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

LIC issues statement amid concerns over exposure to Adani group

LIC gives statement amid concerns over exposure to Adani grp cos

Life Insurance Corporation says that it strictly follows the statutory framework and regulations while making investments. LIC's statement comes amid concerns over the insurer's exposure to Adani group companies.

Amid concerns in certain quarters over LIC's exposure to Adani group companies, the insurer has said that it strictly follows the statutory framework and regulations while making investments.
Last week, state-owned Life Insurance Corporation (LIC) said it has investments of Rs 35,917.31 crore in Adani group's debt and equity securities. The amount is 0.975 per cent of the insurer's total assets under management of more than Rs 41.66 lakh crore.
The total value of equity, purchased over the last many years, of all the Adani group companies, is Rs 30,127 crore and the market value for the same as at close of market hours on January 27, 2023, was Rs 56,142 crore, as per LIC.
Stocks of the Adani group companies have taken a beating, losing billions of dollars in market value, after US-based short-seller Hindenburg Research in a report dated January 24 made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. Adani group completely denied the allegations calling them 'malicious' and 'basless'.&nbsp;

Congress attacks Centre over Adani stocks rout; questions PM Modi's 'loud silence'

He said that amid the allegations against the Adani Group, the Modi government has maintained a "loud silence which smacks of collusion".

The Congress on Sunday stepped up its attack on the Centre over allegations against the Adani group, alleging that the Modi government's "loud silence" over the issue "smacks of collusion".
Adani group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group.
In a statement, Congress General Secretary (Communications) Jairam Ramesh said that starting Sunday the Congress will pose three questions a day to Prime Minister Narendra Modi over the issue.
He said that amid the allegations against the Adani Group, the Modi government has maintained a "loud silence which smacks of collusion".
Ramesh said that in a response to the Panama Papers expose on April 4, 2016, the Ministry of Finance had announced that Modi had personally directed a multi-agency investigative group to monitor financial flows to and from offshore tax havens.

adani group stocks

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