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.
ETMarkets Smart Talk: Planning to spend Rs 10 lakh post Budget? Divam Sharma highlights sectors to invest
Yes definitely, it was a very balanced budget with growth as the north star. Long-term infrastructure creation, focus on human capital development, and ensuring a GDP multiplier effect from agri-sector spend and tax rate cuts remained in focus.
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.
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.
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.
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
Sensex extends gains to 4th day after volatile session; Nifty flat on Adani rout
From the Sensex pack, ITC, and IndusInd Bank were the top gainers, rising about 3.5-5%. HUL, Infosys, Wipro, HCL Tech, TCS, ICICI Bank, and Kotak Bank also closed with gains. However, HDFC, NTPC, Bajaj Finance, Power Grid, and Tata Steel ended with cuts.
Adani group's market cap loss swells to $100 billion as stocks sink on botched share sale
Hindenburg's report last week alleged an improper use of offshore tax havens and stock manipulation by the Adani group. It also raised concerns about high debt and the valuations of seven listed Adani companies.
Contagion continues! Most Adani group locked in lower circuits
As the stock rout deepened, Adani was forced to withdraw the FPO last night in a surprise announcement. This morning, it was reported that Citi's wealth unit has also decided to cut the loan-to-value ratio for credit against Adani securities to zero.
Adani bonds hit distressed levels after stock sale is pulled
Adani Green Energys 4.375% bond due Sept. 2024 declined more than 12 cents on the dollar to 66.75 cents in high-yield secondary trading, according to Trace data. One of Adanis other green bonds fell 9 cents on the dollar, but did not yet reach distressed level.
Adani Group stocks keep falling, suffer Rs 7.44-lakh-cr loss to market value since last week
The Swiss lender’s private banking arm has assigned a zero lending value for notes sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai Ltd, the Bloomberg report said.