Adani Group shares – The News Desk

Shares of Adani Group companies rallied 5-20 per cent on Tuesday, the first trading day after the Supreme Court reserved its orders in the matter pertaining to allegations made by US-based Hindenburg Research and their investigation by the Securities and Exchange Board of India (Sebi). The 11 listed group companies added over Rs 1 trillion in market capitalisation (cap), surpassing Rs 11 trillion. This was the biggest single-day jump in the group’s market cap since April 11. Experts said the gains were owing to improvement in investor sentiment following last week’s proceedings in the Supreme Court and hopes that the port-to-power conglomerate will now have a clear pathway to growth. Some said investors were lapping up beaten-down group shares in anticipation t...

MUMBAI: Adani Group shares and bonds declined after potentially controversial owners of its stock were identified in a new investigation, dealing the Indian conglomerate a fresh blow after short-seller Hindenburg Research in January alleged the group engaged in corporate fraud and stock price manipulation. All 10 listed Adani stocks retreated in Thursday trading and most of the group’s dollar bonds also fell. Shares of flagship Adani Enterprises Ltd dropped as much as 5.2% before paring losses. Documents obtained by staff at the Organized Crime and Corruption Reporting Project show that Nasser Ali Shaban Ahli from the United Arab Emirates and Chang Chung-Ling from Taiwan spent years trading hundreds of millions of dollars’ worth of Adani Group stock, the global network of investigative jo...

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Adani: Adani group shares fall after OCCRP allegations on offshore owners