Most Stocks Of Adani Group Rise As Markets Shrug Off OCCRP Allegations
A day after the Adani Group rejected the OCCRP (Organised Crime and Corruption Reporting Project) report, Adani Group shares recovered from intraday lows and traded in the green.Â
Shares of Adani Group's flagship company Adani Enterprises witnessed a surge of over 1.5 per cent; the shares of Adani Ports also witnessed an uptick of over 1.5 per cent. Â
Most of the heavyweight Adani Group stocks have recovered at least 50 per cent from the lows witnessed during the Hindenburg report fallout.Â
In fact, the big bets for GQG in India (one the marquee global funds) are still on the Adani Group stocks. Since March 2023, after the Hindenburg saga, GQG has invested across Adani Group companies.Â
Rejecting the OCCRP report, the Adani Group in a statement said "We categorically rejected these recycled allegations. These news reports appear to be yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report. Â
The Adani Group has also stated that "these attempts are aimed at generating profits by driving down the group's stock prices and these short sellers are under investigation by various authorities".
The statement further added, "as per the expert committee appointed by the Supreme Court there is no evidence of any breach of the minimum public shareholding requirements or manipulation of stock prices."
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
