
LIC increases stake in 4 Adani firms in Q4 FY23; but cut in 3
LIC ups its stake in Adani Green Energy, Adani Total Gas, Adani Enterprises, and Adani Transmission, but cuts stake in Ambuja Cements, ACC, and Adani Ports & SEZ
LIC ups its stake in Adani Green Energy, Adani Total Gas, Adani Enterprises, and Adani Transmission, but cuts stake in Ambuja Cements, ACC, and Adani Ports & SEZ
Shares of Block tanked as much as 18% after Hindenburg accused Block of inflating user metrics and facilitating fraud.
Shares of nine out of 10 listed companies of the Adani group trading in positive territory today. Adani Ent up 3.78%.
The Adani Group company says it aims to protect the interest of its investing community by returning the FPO proceeds.
Adani Enterprises' secondary share sale opened for subscription on January 27 and will end on January 31.
Group says of 88 questions raised, 65 relate to matters duly disclosed by Adani firms; of balance 23 questions, 18 relate to public shareholders, third parties, while 5 are “baseless allegations”.
Adani Group has attempted to conflate its meteoric rise and the wealth of its chairman, Gautam Adani, with the success of India itself, says Hindenburg Research.
Adani Group says there are more than 27 statutory audit firms which audit the various entities within Adani Enterprises.
"If Adani is serious, it should also file suit in the U.S. where we operate. We have a long list of documents we would demand in a legal discovery process," says Hindenburg Research.
Adani Group says the Hindenburg report is a "malicious combination of selective misinformation and stale, baseless and discredited allegations."