hindenburg research – The News Desk

Adani to invest Rs 2.3 lakh crore in renewable energy, manufacturing capacity

7Apr

By adminNo Comments

Business

Adani to invest Rs 2.3 lakh crore in renewable energy, manufacturing capacity

AHMEDABAD: Adani Group will invest about Rs 2.3 lakh crore through 2030 in India's most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Adani Green Energy Ltd, India's largest renewable energy company, will invest about Rs 1.5 lakh crore in expanding capacity to generate electricity from solar energy and wind power at Khavda in Gujarat's Kutch to 30 gigawatts from 2 GW currently and another Rs 50,000 crore in 6-7 GW of similar projects elsewhere in the country, a top company official said. Adani New Industries Ltd (ANIL), a unit in the group's flagship Adani Enterprises Ltd, will invest close to Rs 30,000 crore in expanding solar cell and wind turbine manufacturi...

Rajiv Jain-led GQG’s $10 billion India bet has winning picks beyond Gautam Adani

11Dec

By adminNo Comments

Business

Rajiv Jain-led GQG’s $10 billion India bet has winning picks beyond Gautam Adani

GQG Partners LLC, led by star investor Rajiv Jain, saw the value of its India portfolio more than double in little over a year, driven by winning stock picks that go beyond its headline-grabbing investments in the Adani Group.The value of India investments across six of GQG’s funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg from latest regulatory filings and information on the Florida-based investor’s website. GQG added stocks across infrastructure, consumer goods and energy sectors in the India equity market which topped the $4 trillion mark last week, cementing its status as one of the best performers in the emerging world. India is getting much love from global investors eager for alternatives to China at a time when Prime ...

Gautam Adani’s wealth swells by $5.6 billion on relief rally

4Dec

By adminNo Comments

Business

Gautam Adani’s wealth swells by $5.6 billion on relief rally

A stocks rally in firms owned by Gautam Adani added $5.6 billion to his net worth last week after India’s top court concluded hearings in a lawsuit where the markets regulator is probing wide-ranging allegations of corporate malfeasance against the conglomerate.The founder of the Adani Group, whose stocks were battered earlier this year after a bombshell shortseller report in January, now ranks 20th on the Bloomberg Billionaires Index with a $65.8 billion fortune.Most of this gain was on Tuesday — the first trading day last week after India’s Supreme Court reserved its verdict on the probe saying it won’t take scathing media reports on the conglomerate as the “gospel truth.” The final court ruling is awaited.Investors, however, seem to have taken court’s observations as a positive cue, st...

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

31Aug

By adminNo Comments

Business

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

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...