Ahead of Market: 10 things that will decide stock action on Monday
Activities in the Indian services sector eased in January but continued to remain above its long run average. Nifty managed to close above the resistance of 17760 and in the process registered a weekly gain of 1.42%. Now the Nifty could test the 17972-18063 band in the near term while 17542 could now act as a support," Deepak Jasani, Head of Retail Research, HDFC Securities, said.
Adani stocks tracker: How much money LIC, mutual funds and FIIs lost after Hindenburg attack
State-owned LIC, which is amongst the largest institutional investors in Adani stocks, owns stake in 7 Adani Group stocks. Top bets include Adani Total Gas, Adani Ports and Adani Enterprises. In the last seven trading sessions, the PSU insurer has lost Rs 38,509 crore as the value of its investments decreased to Rs 42,759 crore
Looking to invest in Adani Group? Ambuja Cements, Adani Ports long-term bets: Swapnil Shah
The relative outperformance of the Sensex vis-à-vis Nifty50 can majorly be attributed to the fact that Adani Enterprises and Adani Ports form a part of the Nifty 50 while they are not the constituents of the Sensex index.With both these stocks witnessing a massive sell-off in the week gone by, the outperformance in the benchmark indices is more to do with stock-specific action on a shorter time frame rather than any other anomaly.
Adani stocks tracker: After 9 lakh crore loss in 7 days, what should investors do?
Later on in the evening hours, global ratings agency S&P Global Ratings downgraded the outlook on Adani Ports and Special Economic Zone and Adani Electricity to “negative” from “stable”, citing that the risks and concerns triggered by Hindenburg Research report have not been factored into its ratings.
How Adani Selloff Stacks Up Against the Biggest Stock Collapses
The short position put Ackman at odds with fellow billionaire, Carl Icahn, who became the companys biggest holder. Icahn went on to defend the company, which sells weight-loss shakes and vitamins, and assailed Ackman — who exited his position by 201
Inside the 19-Hour Meltdown That Junked Adani’s Share Sale
Adani chose to forgo the short-term victory of nailing the follow-on offer to protect his longer term relationships with marquee investors who otherwise were staring at some embarrassing mark-to-market losses on the sums they had committed.
Rollercoaster week sees 11 BSE 500 stocks give double-digit returns, ITC among them
The government hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall taxes on cigarettes. Analysts expect the hike in the duty to give room for ITC to raise prices by about 1-3% across categories, which will subsequently drive its profitability.
D-Street indices jump; some Adani stocks end in green
The Sensex closed at 60,841.88, up 909.64 points or 1.52% from the previous close. The Nifty advanced 1.4%, or 243.65 points, to end at 17,854.05. For the week, the Sensex rose 2.5% - the highest weekly gain in 27 weeks, while the Nifty advanced 1.4% - the highest weekly gain in six weeks.
Adani Group bonds recover with analysts positive on ability to meet payments
While the stocks rout of some group companies continued, bonds got a breather with global investment banks telling clients that these papers were attractive and that the companies might be able to meet the payments.
Rating agencies, partner help ease pressure of Adani
This is after a over USD 100-billion rout in value of group stock since the US short seller Hindenburg Research accused Adani group of stock manipulation and accounting fraud. Adani Group has repeatedly denied any wrongdoing and has threatened to sue Hindenburg
S&P Global Ratings revises outlook on Adani Ports, Adani Electricity to negative
The company has responded to the allegations and also decided to return funds from a fully subscribed $2.4-billion offer of shares in the promoters' flagship company Adani Enterprises Ltd due to market volatility
Rupee up, but marks weekly loss on equity outflow pain
"Increasing foreign fund outflows and the withdrawal of Adani Enterprises' $2.5 billion follow-on public offer (on Wednesday) dampened market sentiment, weakening the rupee against the dollar," said Ritesh Bhansali, vice president at Mecklai Financial Services
'Black Swan' author Nassim Nicholas Taleb has an advice for Gautam Adani
To safeguard investors from the sharp volatility in stocks of Adani Group companies, NSE has moved Adani Enterprises, Adani Ports and Special Economic Zone, and Ambuja Cements under the short-term additional surveillance measure (ASM) framework. Traders are now required to pay 100% upfront margin even for intraday trades
Mark Mobius says Adani’s debt pile 'scared us away' from share sale
The selloff deepened after Bloomberg reported this week that units of Credit Suisse Group AG and Citigroup Inc. have stopped accepting some securities issued by Adanis companies as collateral for margin loans to wealthy clients.
India's Adani shares nosedive on concern about broader Hindenburg fallout
The meltdown in share prices marks a dramatic turn of fortune for Adani, who in recent years forged partnerships with, and attracted investment from, foreign giants as he pursues global expansion in sectors as varied as ports and power.
Colossal loss! Investors in Adani stocks lose Rs 10 lakh crore in 7 days as market cap halves
During the day, Adani Enterprises was the top loser in Adani's group of stocks as the Nifty50 stock was locked in 20% lower circuit at Rs 1251.80. The stock is down over 70% from its 52-week high. The company's Rs 20,000 crore FPO, which was withdrawn earlier in the week, was priced at Rs 3,112-Rs 3,276.
Adani Enterprises removed from Dow Jones Sustainability Indices
Adani stocks have been in a freefall and so have eroded over 40% of investor wealth ever since American short-seller made multiple allegations in its report last week. With a view to safeguard investors from the sharp volatility in stocks of Adani Group companies, the National Stock Exchange has moved Adani Enterprises, Adani Ports and Special Economic Zone, and Ambuja Cements under the short-term additional surveillance measure (ASM) framework.
Adani made scheduled U.S. bond payments, to release credit report Friday -sources
Reuters calculations show that interest payments of a total of around $24 million were due on Feb. 2 on three bonds issued by Adani Ports and Special Economic Zone due to mature in 2031, 2032 and 2041.
Adani stocks continue to fall; Mcap loss widens to Rs 8.79 lakh crore
On Thursday, Adani Ports fell 6.1%, Adani Power and Adani Wilmar declined 5% each, Adani Transmission, Adani Green Energy and Adani Total Gas dropped 10% each. ACC ended almost unchanged over the previous day and Ambuja Cements jumped 5.3% after the Adani Group clarified that no shares of either of the companies have been pledged by promoters and they have only provided so-called, non-disposal undertakings.
Will review capital markets strategy, says Gautam Adani
The shares have been on a freefall after an attack last week by short-seller Hindenburg, accusing the group of stock price manipulation. On Wednesday, a day after the successful closure of the FPO, AEL shares lost 28.2% in market value after reports emerged that global banking major Credit Suisse had stopped accepting Adani Group bonds as collateral. The company announced the decision to withdraw the FPO on Wednesday night.
Further, market participants looking to pledge Adani shares with brokers as collateral for trading are being asked to take a bigger haircut in the value of the loans. A haircut is the worth ascribed to an asset by a lender for calculating the collateral value. These steps are part of brokers' attempts to reduce risks for clients and for themselves.
Exchanges is in the process of putting together the trading activity that has happened in Adani companies over the last few days. They will submit their findings to the regulator. "Any unusual trading will be examined by the stock exchanges," said the person quoted above.
Prices of multiple bonds issued by different companies of the Adani Group fell sharply on Thursday, a day after flagship Adani Enterprises dramatically announced the withdrawal of its follow-on public offer (FPO) worth ₹20,000 crore late Wednesday. The issue got full subscription, although the stock has since plunged nearly 50% below the lowest issue-price threshold.
NSE noted that applicable rate of margin shall be 50 percent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 percent w.e.f. February 6, 2023 on all open positions as on February 3
Ahead of Market: 10 things that will decide D-St action on Friday
European shares climbed on Thursday, led by technology and real-estate stocks, with focus squarely on the European Central Bank's interest rate decision a day after the Federal Reserve acknowledged its progress on curbing stubborn price pressures.
Ambuja Cement, ACC say no shares pledged by promoter Adani group
We would like to clarify that none of the shares of Ambuja or ACC has been pledged by Promoters. The Promoters have only provided a non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja and ACC or cash top-up under the acquisition financing raised last year
NSE puts 3 Adani Group stocks under additional surveillance framework to curb short selling
Since Jan 25, Adani Enterprises share value has more than halved, and Adani Ports has shed more than 39%. Today, Adani Enterprises shares ended 27% lower in the cash market at Rs 1,565.25, and those of Adani Ports settled 7% down at Rs 462.45