ADANI HINDENBURG ROW
After Kotak twist & China spies, Hindenburg vs Adani gets murkier as new details emerge in the drama
Adani-Hindenburg row: In the ongoing Adani-Hindenburg saga, new revelations show that US short-seller Hindenburg Research shared its critical report on the Adani group with New York hedge fund manager Mark Kingdon months before its public release. According to Sebi, this collaboration involved a profit-sharing agreement tied to significant declines in Adani's market value, exceeding USD 150 billion across 10 listed firms.
Kotak twist to Adani- Hindenburg drama: Here's how US short seller responded to Sebi show cause notice
Adani Hindenburg Row: In the latest turn of events, Hindenburg revealed it received a show-cause notice from India's market regulator SEBI over alleged violations related to its bets on Adani Group stocks. Kotak Bank was also entangled in the latest developments. Previously, Hindenburg Research had accused the Adani Group of stock market manipulation and accounting fraud.
Hedge fund’s secret Adani short revealed in blow-by-blow account
The short-selling scandal involving Hindenburg Research, Adani Group, and Sebi triggered regulatory scrutiny and a US Justice Department probe. The scandal emphasized the importance of market efficiency amidst fraud allegations and regulatory actions.
Adani-Hindenburg Row: What are the allegations against US-based short-seller? What's the link with Kotak Mahindra?
Hindenburg Research rebuts Sebi's allegations of collusion with Kingdon Capital Management in shorting Adani Group stocks. Sebi's 46-page notice claims Hindenburg's actions facilitated significant gains for Kingdon Capital, but Hindenburg dismisses these as baseless and accuses Sebi of neglecting investor protection. Kotak Mahindra Bank's alleged involvement adds to the controversy, with Sebi and Kotak yet to comment.
Adani surge helps indices break losing streak on eve of exit polls
Adani Group stocks surged up to 9% after brokerage Jefferies recommended buying shares of four companies within the conglomerate in Mumbai.
PM Modi, Ambani, Adani reshaping India to become economic superpower: CNN report
India is poised to become a 21st-playing a fundamental role in shaping the economic superpower the country will become in the coming decades, according to a CNN report
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Back In Game! After 1 year, Adani stocks recover most of their losses from Hindenburg blow
Exactly a year ago Hindenburg Research unleashed havoc on Dalal Street by releasing a 106-page report on Adani Group, accusing the conglomerate of engaging in 'brazen stock manipulation' and 'accounting fraud'. Following the report, all the Group’s stocks plummeted resulting in halving the market value of 10 Adani stocks to Rs 9.3 lakh crore in 10 days. Now, 3 out of 10 Adani stocks have recovered all their losses from the Hindenburg blow. Take a look at how they are trading:
Gautam Adani bets big on vast solar and wind plant
India is the world's third-biggest carbon emitter and Modi's government has been at the forefront of attempts to push back against the "phase out" of coal at global summits. But the world's most populous country and fastest-growing major economy needs ever more power, and Adani is building what he calls a "monumental" solar and wind project.
SC to pronounce judgement on Wednesday on Adani-Hindenburg row over charges of market manipulation
The Supreme Court will issue a verdict on petitions related to the Adani-Hindenburg row, alleging stock price manipulation by the Indian corporate giant. The court will deliver the judgement on up to four petitions, filed by lawyers Vishal Tiwari, M L Sharma, Congress leader Jaya Thakur, and Anamika Jaiswal. The pleas claimed that the Adani Group, close to the Modi government, inflated its share prices and the share value of various group entities fell sharply after the Hindenburg Research report.
Year-ender 2023: Rs 6 lakh crore shock! Adani stocks lost up to 74% in 2023 but 2 counters thrived
At the end of 2022, the total market value of all 10 listed Adani companies was Rs 19.6 lakh crore which has now fallen down to Rs 13.6 lakh crore
2023 drilled $35 billion hole in tycoon Gautam Adani's wallet
In pre-Hindenburg days, the maverick businessman's wealth saw a gravity-defying one-way movement that took him to the position of world's second richest man for a brief period. With his fortune being estimated at around $85 billion, Adani is now the second richest Indian after Mukesh Ambani.
Gautam Adani is now 16th richest globally after wealth tops $70 billion
Adani is the second-richest Indian in the list and behind Mukesh Ambani, who has an estimated total net worth of $90.4 billion and is at the 13th spot. His net worth has grown by over $3.33 billion in 2023. The Adani group stocks have been on a roll following the Bharatiya Janata Party's (BJP) election victory in key state elections of Madhya Pradesh, Rajasthan, and Chhattisgarh.
Adani investors richer by Rs 1.2 lakh crore to record best day since Hindenburg crisis
Shares of Adani Total Gas were the top gainer in the pack and up about 20%, followed by a 10-17% upside in Adani Energy Solutions, Adani Green, Adani Power, NDTV, and Adani Enterprises. Shares of Adani Power not only erased all Hindenburg-era losses but also rallied up to 17% today to hit a fresh record high of Rs 464.30. So far in 2023, the stock has given about 50% return to investors.
Adani Enterprises shares rally up to 3.5%, Supreme Court finishes hearing on Hindenburg issue
Other Adani stocks such as NDTV and Adani Power also rose 8.3% and 4.5%, respectively. Adani Energy Solutions, Adani Green Energy, Adani Ports and Adani Total Gas also rose over 1%.
Adani-Hindenburg row: No reason to discredit SEBI, says SC, reserves order
The bench said SEBI has to take steps to ensure that instances of loss of investors' wealth, consequent on short selling or volatility in the stock market, were obviated in the future.
Adani-Hindenburg row: Plea in SC seeks contempt action against SEBI
The plea said by the order dated May 17, 2023, the apex court directed SEBI to submit its report till August 14, 2023. It said on August 25, 2023, SEBI filed the status report regarding its investigation stating that overall it has done 24 investigations, out of which 22 investigations have achieved finality and two are of interim nature.
Article on Adani-Hindenburg row: SC grants interim protection to 2 journalists
The Supreme Court granted interim protection from arrest to journalists Ravi Nair and Anand Mangnale in connection with an article on the Adani-Hindenburg controversy. The journalists challenged summonses from the Ahmedabad crime branch related to a preliminary inquiry into their article.
Adani-Hindenburg row: SEBI's inability to reach final conclusion 'deeply worrying', says Congress
The Congress on Saturday said stock market regulator SEBI's inability to reach a conclusive finding on the allegations of round-tripping and money laundering by the Adani Group was "deeply worrying". Congress general secretary Jairam Ramesh said the Securities and Exchange Board of India (SEBI) has admitted this in its status report to the Supreme Court and added only a Joint Parliamentary Committee (JPC) can examine how the government flouted norms and procedures to help Prime Minister Narendra Modi's "favourite business group".
Adani-Hindenburg row: SEBI's inability to reach final conclusion 'deeply worrying', says Congress
The Congress party has expressed concern over the Securities and Exchange Board of India's (SEBI) inability to reach a conclusive finding on allegations of round-tripping and money laundering by the Adani Group. Congress general secretary Jairam Ramesh stated that only a Joint Parliamentary Committee (JPC) can investigate how the government flouted norms and procedures to favor the Adani Group.
Not aware of any subpoena to US investors, regulatory checks a routine: Adani group
Adani Group has denied knowledge of the US Securities and Exchange Commission subpoenaing its investors over representations made by the company to them following allegations by Hindenburg Research that offshore companies were used to manipulate share prices. The group added that its disclosures were public record, and that regulators frequently sought access to such material
Adani-Hindenburg row: SC to hear PILs seeking probe today
The apex court on Monday adjourned the hearing on the SEBI plea seeking a six-month extension to conclude the investigation in the Hindenburg Research's report. The bench led by the Chief Justice of India (CJI) Dr Dhananjaya Yeshwant Chadrachud and also comprising Justices P S Narsimha and J B Pardiwala adjourned the matter.
Adani Group stocks down, will SC give relief to D-Street bulls or make way for bears?
The shares of some Adani Group companies fell by 1-4% in anticipation of the Supreme Court hearing on the Adani-Hindenburg row later in the day. The apex court will hear the case in which a six-member panel set up by the court to investigate reports submitted their findings on allegations of corporate misgovernance and insider trading violations.
Adani Enterprises stock up 5% on fundraising plan, 2 verdicts to decide fate tomorrow
The fundraising plans will help ease concerns regarding the group's debt service abilities, and are seen as beneficial for investor confidence. However, Adani stock gains will depend on the outcome of two major events: MSCI index adjustments and an impending Supreme Court Hearing on the Adani-Hindenburg issue.
Adani-Hindenburg row: PIL petitioner moves SC, opposes Sebi plea for extension of time to complete probe
The Securities and Exchange Board of India (SEBI) recently moved an application in the top court seeking six more months for ascertaining possible violations related to misrepresentation of financials, circumvention of regulations and/or fraudulent nature of transactions, and completing the exercise.
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