#adani enterprises share

[jannetranews]

Adani Group पर रिश्वतखोरी और धोखाधड़ी के आरोप, अमेरिकी कोर्ट में सुनवाई और गिरफ्तारी वारंट जारी

Gautam Adani Alleged Bribery and Fraud : भारत के सबसे बड़े उद्योगपति गौतम अडानी (Gautam Adani) और उनके सहयोगियों के खिलाफ अमेरिका में रिश्वतखोरी और धोखाधड़ी के गंभीर आरोप लगाए गए हैं। इन आरोपों के कारण अडानी ग्रुप (Adani Group) के लिए मुश्किलें बढ़ती जा रही हैं, और अब अमेरिकी कोर्ट (US court) में सुनवाई के दौरान अडानी (Gautam Adani) और उनके भतीजे सागर अडानी के खिलाफ गिरफ्तारी वारंट जारी कर दिए गए…

[jaiminiofficial]

Adani Enterprises Share Price & News | अडानी एंटरप्राइजेज शेयर

Adani Enterprises Share | अडानी एंटरप्राइजेज शेयर Adani Enterprises Share Price & News | अडानी एंटरप्राइजेज शेयर अदानी एंटरप्राइजेज लिमिटेड एक भारतीय बहुराष्ट्रीय सार्वजनिक रूप से ��ूचीबद्ध होल्डिंग कंपनी है और अदानी समूह का एक हिस्सा है । इसका मुख्यालय अहमदाबाद में है और मुख्य रूप से कोयले और लौह अयस्क के खनन और व्यापार में शामिल है । अपनी विभिन्न सहायक कंपनियों के माध्यम से, हवाईअड्डा…

[sharemarketinsider]

Adani Group Faces $250M Bribery Scandal—Impact on Stocks and Future Risks

🚨 Adani Group Stocks Tumble After Major Bribery Allegations! 🚨 What does this mean for the future of India's top conglomerate and its investors? 📉 Discover the impact, risks, and potential opportunities in this unfolding story. Click to read more! #AdaniGroup #StockMarket #Investing #BusinessNews#Adaninews

[emmaameliamiaava]

Adani Enterprises - Stock Price Live Today

Get real-time updates on Adani Enterprises Share Price including price history, news, analysis, financial reports, and company details on Stockgro.

[saveralivehindi]

Hindenburg के फिर से सामने आने के बाद निवेशकों ने अपनाया सुरक्षित रुख , Adani के शेयरों में 7% तक की गिरावट

Adani बनाम हिंडनबर्ग विवाद में सेबी प्रमुख माधबी बुच के खिलाफ लगाए गए आरोपों के बाद कई निवेशकों ने सुरक्षित खेलना चुना, जिसके चलते आज सुबह अडानी समूह की कंपनियों के शेयरों में 7% तक की गिरावट आई। नतीजतन, निवेशकों को लगभग 53,000 करोड़ रुपये का नुकसान हुआ और अडानी के 10 शेयरों का संयुक्त बाजार पूंजीकरण 16.7 लाख करोड़ रुपये तक गिर गया। अडानी ग्रीन एनर्जी के शेयरों को सबसे ज्यादा नुकसान हुआ क्योंकि…

[banking-on]

https://www.icicidirect.com/stocks/adani-enterprises-ltd-share-price

How to buy adani enterprises share price?

In order to buy adani enterprises share price one need to open a demat account.

[indiabizlive]

Shares of Adani group firms were fairly neutral on Wednesday, despite the group’s denial of a media story suggesting the conglomerate had not paid off all of its debts against promoters’ stocks, calling it a “mischievous lie.”

[publictaknews]

Shares of Adani Ports, Adani Enterprises surge as other group firms trade

Shares of four Adani group companies, including Adani Enterprises and Adani Ports, recovered on Friday after significant losses in the past six days, with many trading near the lower circuit limits. Which companies of Adani Group saw recovery in their shares? 1. Adani Enterprises shares recovered 1.25 percent 1,584.20 per share on the Sensex. 2. Adani Ports also made a comeback with a gain of…

[yaqubali]

Adani Group - A Look at Major Companies Under its Umbrella owned by Gaut...

When exponential is your growth, be careful when you step forth, There are lot of people to pull you down, And few others who want your crown. Adani Group - A Look at Major Companies Under its Umbrella owned by Gautam Adani 2023 #AdaniGroup #Adani #AdaniEnterprises #companies #India

[livemintvideos]

Shares of Adani Group's seven listed companies crashed for the second straight day on Friday, extending their fall after Hindenburg Research said that it took a short position in certain securities of the group which the Group dismissed as ‘baseless’. Adani Transmission shares tumbled over 19% and Adani Total Gas sank 19.1% in their biggest daily drop since mid-March 2020, while Adani Green Energy sank about 16% on the BSE in the early trading session. Let's delve into the specifics of what this report found, as well as Adani Groups' response to it.

[indizombie]

Adani Group has grown remarkably during Modi’s time in power. Adani himself has been a cheerleader for the politician since 2002, when deadly riots undermined business confidence in the state of Gujarat—where Modi served as chief minister between 2001 and 2014. The state is known for its enterprise, but in the wake of communal violence, investors began to turn away. Adani came to Modi’s rescue, bringing Gujarati business leaders together to invest in the state’s resilience. Modi doesn’t forget those who criticize him, but he also remembers those who stand by him. While Modi was chief minister, Adani invested in several plum projects in the state, including India’s largest private port in Mundra, Gujarat. By early 2019, Adani controlled one-quarter of India’s port capacity and had won the rights to manage six government-owned airports; he later added a 74 percent share in Chhatrapati Shivaji Maharaj International Airport, India’s second-busiest.

Salil Tripathi, ‘Gautam Adani and the New Indian Capitalism’, Foreign Policy

[mariacallous]

A staggering sell-off of the stocks of Indian conglomerate Adani Group was sparked last week by a report released by Hindenburg Research that raised questions about the group’s debt levels and use of tax havens. The Adani Group’s stocks declined more than 50 percent in the aftermath of the report’s publication, and those declines have had a massive effect on the wealth of the company’s namesake, Gautam Adani, who had previously been the world’s third-richest person and Asia’s richest overall. The Adani Group has denied the allegations, saying they have “no basis.” But the controversy has focused attention on the group’s central role in the Indian economy and its founder’s close relationship with Indian Prime Minister Narendra Modi.

What accounts for Adani’s rise in the first place? What is the basis for his close relationship with Modi? And what role does the Adani Group play in the Indian economy? Those are a few of the questions that came up in my recent conversation with FP economics columnist Adam Tooze on the podcast we co-host, Ones and Tooze. What follows is an excerpt, edited for length and clarity.

For the full conversation, look for Ones and Tooze wherever you get your podcasts.

Cameron Abadi: Adani has a pretty impressive rags-to-riches story. What were the key turning points on his path to great wealth?

Adam Tooze: It’s a fascinating story. He’s born in 1962, as India’s demographic boom is cresting. And not in a poor family by any means but to a small businessman, a small trading family. He initially embarked on an undistinguished career in school and then headed to commercial college but then dropped out. And in 1978, he entered the diamond trade, which is large in the province of Gujarat, and then sets himself up as a sort of export-import trader. And from the ‘90s onwards, he embarks on the infrastructure projects— management of ports, the construction of railway systems—which will make him famous, indeed legendary. So it’s the story not really of a kind of business genius who has some technological, gee-whiz idea that conquers the world. It isn’t a story of the magnificent technical excellence of Indian IT services, for instance. It’s a more classic story of the accumulation of capital by means of trade, trading on margins, basically, and then a shift into infrastructure.

And this is where the key element in the Adani story comes in, which is politics and the politics of connections and clientelism. And that’s really the decisive moment in his career where, you know, after the ghastly pogroms against the Muslim population of Gujarat in 2002, when Modi is under massive pressure, Adani solidarizes himself with Modi against, at the time, the prevailing mood of Indian business opinion. He in fact breaks ranks and forms his own industrial association, or business association, and on that basis really forms this lasting connection to Modi that is really the distinguishing feature of his business enterprise.

And that’s what has enabled this utterly explosive growth. I mean, this was a still moderately sized business in the ‘90s and the early 2000s, which has now become absolutely a globally scaled enterprise and the foundation for huge wealth for Adani and his family.

CA: What exactly links Adani and Modi’s [Bharatiya Janata Party] BJP party on an ideological level? Do they share a vision for what kind of country India should be? Or is this relationship an expression of a kind of material division of labor—Adani as the economic arm of the Indian state under the BJP in service of further economic development?

AT: I think the key phrase is nation-building—both words in that hyphenated term. So national projects aiming for truly comprehensive scale, which—when you’re dealing with a subcontinental state like India with a population that India has—is a gigantic undertaking.

So for the Adani Group to establish itself the way it has as the key power producer in the private sector, absolutely key player in port infrastructure on the national scale, and absolutely key player in airports—air mobility being key in a country the size of India—now moving into a new position in cement, this is creating a national economy out of the relatively decentralized provincial structures, which until a remarkably recent date dominated the Indian economy. And for the second element—the building part of nation-building—delivery is the absolutely key thing because if there’s one problem the Indian state machine has, it is the capacity to deliver. They have a chronic problem. There is no shortage of brilliant minds that can conceive of wonderful plans but actually implementing policy down to the village level and across the entirety of this vast country, that’s a huge challenge.

And I think it’s the combination of those two elements that really has forged the almost mythic relationship between Modi on the one hand and these two big business groups: [Indian businessman Mukesh] Ambani on the one hand and Adani on the other—both from Gujarat. And I think that’s another element that you could say was also a kind of ideological narrative, which is the talk of the Gujarat model. To put it crudely, you might say it was a sort of Indian Thatcherism or an Indian neoliberalism. It was a break, as in the case of [former British Prime Minister Margaret] Thatcher, driven from within the government machine, in this case in the province of Gujarat, against the rather top-down, state-directed model inherited from the Nehruvian period of early independence, the 1940s to 1950s, where India toyed with socialist, social-democratic planning models. And this is replaced in the ‘90s and the 2000s by this Gujarat model, which is a kind of open embrace of a productive powerhouse relationship between big business interests and government.

CA: Could you summarize the allegations against Adani from Hindenburg Research—and what does this episode reveals about the role played by short sellers like Hindenburg Research in the global capitalist economy?

AT: First, we can’t stress strongly enough, the Adani Group vigorously disputes the allegations. But the allegation is that through a network of essentially family-linked holding companies held to a considerable extent outside India, the Adani Group dramatically inflated the value of its stock. So around about 75 percent of Adani shares are held by other businesses, according to Hindenburg Group, which are in a sense simply postbox entities situated in offshore places like Mauritius, for instance, which drive up the stock value of the Adani Group. And the significance of that is not only that it brings paper gains for the holdings of the key members of the family, but much more importantly, what it enables them to do is to leverage those high stock values, to get bank loans and to get credit, which then turns into real purchasing power with which you can then launch large investment projects, buy out rivals, and actually reshape India’s political economy.

Now the Hindenburg group in pursuing this case is, in a sense, involved in playing a game in India that it has played elsewhere. They’re an interesting, very small research outfit that specializes in doing—I’m not sure I would call them regulators. It’s a little bit more like private investigator kind of work. They seize on a cause. They then decide that a company is massively overvalued. They do their homework. They then take short positions and through the force of their research attempt, as it were, to drive the value of the firm down, which generates large profits on their short positions.

The sophisticated Indian response, I think, is that there’s really an element of culture clash here. There aren’t many players in the Indian financial markets who imagine that the value of the Adani Group is determined in a conventionally free and fair way because people aren’t naive about the way in which India’s political economy operates. And so the sophisticated rationale for what’s going on in India is that Indian financial investors know that this is part of the Adani Group’s business plan. And with the backing that they enjoy in political circles, they are not just too big to fail but essentially identified with the Modi-ite project. So long as that is hegemonic in Indian politics, these businesses cannot fail. So there is in fact very little risk that you won’t get paid back. And to that extent, no harm, no foul.

But what actually is happening is that India’s economy is becoming progressively more and more distorted by this self-sustaining linkage between high market valuations, large credit, and deep political connections constituting a too-big-to-fail kind of juggernaut that can’t be stopped. And the negative consequence of that is not in terms of an investor protection case—if you’re on this train, you’re probably going to be fine. The real issue is what it does to the Indian economy and what it does, by implication, also to Indian society.

CA: What does Adani reveal about the role of the super wealthy in countries at India’s stage of development? Does Adani act as an engine of domestic development through reinvestments in the country or through philanthropy? Or is it instead that he takes his money out of the country and insulates himself from the Indian economy?

AT: What’s really interesting is that this is not, I think, as far as we’re able to assess anyway, a Russian-style model. I mean, this is an immensely wealthy family. They will have property in many parts of the world. But this is not a model like the Russian oligarch one, where you pump oil and gas in Russia, you sell it for dollars, and then you stash those dollars in a Swiss bank account. That is the kind of classic model of truly offshore oligarchic finance that is draining resources from a country. And as far as we’re able to assess, the Adani Group is using offshore money to sustain and double down on their positions in India. The purpose is to raise more credit so as to be able to do more investment in India. So this is not an instance, I think, of a group that is operating primarily in an extractive mode.

The Adanis have also become very heavily involved in philanthropy. For the occasion of Gautam’s 60th birthday, they launched one of the largest philanthropic initiatives that India has seen since the glory days of the Tata family. They pledged $7.7 billion in 2022—so very considerable amounts of money in the kind of league of [billionaire] Bill Gates at that stage.

CA: What does Adani’s career and his wealth tell us about the Indian economy in general? What kind of capitalist country is India exactly?

AT: If you go to Delhi and you speak to economists, that’s the question that preoccupies them. And the upside story, the one that the proponents of this system favor, is that it’s a South Korean-style, chaebol-type system where you have these very, very powerful conglomerate families like the Samsung Group. So that’s the most favorable vision, that these powerhouse private, public-private partnerships will be the drivers of an Indian industrial development or modernization like that of South Korea.

And on the darker end of the spectrum, the fear is that you could see the development of a crony capitalism that shifts ever more towards the more ominous sort of Russian development where you have quite fundamental erosion of the rule of law. The real worry, I think, is that you could see a much more fundamental degeneration of competition, of civil society control, and that is why many people regard the acquisitions by these big groups in the media space as being so worrying because one of the consequences of that is that freedom of speech is increasingly curtailed and even tenure in universities becomes problematic.

But setting all of these big sort of historical analogies aside, ultimately, the rationale and the acid test of this system will be what political scientists call output legitimacy. Can they get the job done? Are they actually going to be able to deliver on a raft of big infrastructural projects that India needs over the next decades—notably, for instance, in the renewable energy and the sustainable energy space? In the end, these corporate stories have to translate into the infrastructure that enables that more broadly based macroeconomic growth.