Dhaka | Dhaka City | Bangladeshi News
Dhaka | Dhaka City | Bangladeshi News
India’s Adani Group is considering an independent assessment of issues related to legal compliance, related party transactions and internal controls, revealed on Tuesday following a critical report from the US short-seller on its business. The group, led by billionaire Gautam Adani, has been roiled in days of market turmoil since Hindenburg Research on January 24 […]
India’s Adani Group plans to scale down its capital expenditure plans, newspaper Mint reported on Monday, citing people close to the development, after the group’s flagship firm closed a $2.5 billion share sale. The newspaper reported that the group may moderate its capex plans in some of its businesses, while providing more collateral in the […]
Media reports last week said Bangladesh had sent a letter to Adani Power Ltd to negotiate a lower import price for coal under the power purchase agreement. However, Nasrul shrugged off the uncertainties surrounding the contract. He reiterated that Bangladesh will start getting 750 MW power in March and 750 MW in April. Nasrul had […]
“Contagion concerns are growing, but still limited to the banking sector,” Charu Chanana, a market strategist at Saxo Markets in Singapore, said on Friday. The Reserve Bank of India said that the country’s banking system remains resilient and stable. State Bank of India said it was not concerned about the risk exposure to the Adani […]
In Friday’s trade, the share price of Adani Enterprises Ltd – the flagship company of the group – fell 35% to its lowest level since March 2021. It lost about $33.6 billion, representing a 70% drop from the previous week. Adani Ports and Special Economic Zone Ltd was down 14%, while Adani Transmission Ltd and […]
It’s worth looking at the short-lived Yangtze River case to understand why Adani (and other Hindenburg targets) should think twice about suing Hindenburg in the US Hindenburg blasted Yangtze River in a 2018 report, which described the NASDAQ-listed company as a “shell” and a “scheme” to siphon off only US investors from Yangtze’s chairman and […]
The move would require lenders to issue some shares of Adani group companies that were pledged as collateral, Bloomberg reported, citing a person with knowledge of the matter. As per reports, the group has not faced margin calls on these pledges and is actively seeking prepayments. Bloomberg reported that the main priority is to address […]
Sources said Sebi is conducting a full-scale probe into the fall in shares as the matter is confidential. Shares were pulled last week by a report by Hindenburg Research that alleged improper use of offshore tax havens and stock manipulation by the Adani Group. It also raised concerns about the high debt and valuation of […]
“So am I surprised by the behavior of some Indians? No.” The Government of India has not commented on Hindenburg’s allegations. Hindenburg said in a statement on Monday that the Adani group was “trying to divert attention from core issues and instead fuel a nationalist narrative”. “In short, the Adani Group has attempted to confuse […]
Adani Group’s response comes as its flagship company is going ahead with a $2.5 billion share sale. This is overshadowed by the Hindenburg Report, which flagged concerns about high debt levels and the use of tax havens. “All transactions entered into by us with entities that qualify as ‘related parties’ under Indian laws and accounting […]
AMG Media Networks Ltd, a wholly owned subsidiary of Adani Enterprises, had in August bought 100 per cent equity stake in Vishwapradhan Commercial Private Limited or VCPL. Later that month, the Adani Group announced that it would acquire a 29.18 percent stake in NDTV through VPCL. NDTV had then said that the acquisition was done […]
