rose as much as 9.5% on Monday but those of several other group companies plunged for the third straight day, extending their losses after a U.S. short-seller's report that criticised the group.flagged concerns
about debt levels and the use of tax havens. Adani said it complies with all local laws and had made the necessary regulatory disclosures.Hindenburg, in response, said Adani's "response largely confirmed our findings and ignored our key questions." On Monday, Adani Enterprises was trading at 2,962 rupees in early trade, paring some of its initial gains, as its critical $2.5 billion secondary share sale entered its second day.
That's below the price band for the share sale - Adani has set a floor price of 3,112 rupees per share and a cap of 3,276 rupees. On Friday, the first day of the offer, the issue was subscribed 1% amid a broader fall in shares.
Dead cat bounce
Dead cat effect
Now how can adani stock rise when group companies crash? Indeed the govt institutions are forced to keep him afloat.
Adani enterprise have large property around the world ports and airport
LIC DII are pumping into it
If the group has been taking the fake route all these days to mint money from public then it is clear that even this increasing share price is another fact that makes HindenburgRes report true.
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Indian shares set to rise after a rout set off by Adani stocksIndian shares are set to open higher on Monday tracking gains in global equities on hopes of the U.S. Federal Reserve easing its aggressive monetary policy stance, erasing some of the losses over the previous two sessions due to a sell off in Adani Group stocks. You're obsessed with this stock, in bed with the short sellers? Adami stocks went down because of B.B.C propaganda. All western media outlets have become propaganda outlets including Reuters. People are not willing to believe anything that your lot says anymore
Source: Reuters - 🏆 2. / 97 Read more »
Breakingviews - Breakingviews: Adani’s financing safety-net rests on Indian banksGautam Adani’s financing options are narrowing fast. Investors wiped $48 billion off the Indian tycoon’s listed companies in just two days last week; his flagship Adani Enterprises lost 19% of its value on Friday alone. While the nationally important ports-to-power-to-roads group should be able to manage its interest bill, the selloff blows apart Adani’s plans to tap global capital markets. That leaves it dependent on a safety net provided by Indian banks. Adani green borrowed $1.35 billion from these International banks Banks urged deleveraging 'Gautam Adani weighs $5 billion fundraise as banks urge deleveraging'
Source: Reuters - 🏆 2. / 97 Read more »
Growth trajectory of Adani Group's underlying businesses not affected - CFOThe growth trajectory of the underlying businesses of Adani Group has not been affected by the Hindenburg Research report that sparked a $48 billion rout in its stocks, Chief Financial Officer Jugeshinder Singh said on Monday.
Source: Reuters - 🏆 2. / 97 Read more »