Gautam Adanigroup News

After a roller-coaster ride on the wealth rankings last year, Gautam Adani is back to being Asia’s wealthiest person days after India’s top court said no new probes were needed into Hindenburg Research’s bombshell allegations against the tycoon’s conglomerate.

Adani Group Chairman Gautam Adani has surpassed Reliance Industries Limited Chairman Mukesh Ambani to regain the top spot as the richest man in Asia, with a total net worth of $97.6 billion, according to the Bloomberg Billionaire’s Index. Gautam Adani is now the world’s 12th richest person, up from the 15th position in December 2023. 

Gautam Adani, Chairperson of the Adani Group of companies has overtaken Reliance Industries Chairman Mukesh Ambani on the Bloomberg Billionaire's Index (BBI), to become India's and Asia's richest man. While Adani has seen his worth climb into the top 12 on the world rankings, Ambani is just one rung below at 13. Both have moved up spots since last year.

State Bank of India: India’s largest lender State Bank of India (SBI) is looking to tap the US bond markets to raise $500-750 million. SBI is planning to raise funds through Regulation S bonds, and the roadshows could begin as early as next week. Bank officials have held discussions with about six bond arrangers.

Hindenburg Research's allegations of fraud, misgovernance and stock price manipulation. It said the Securities and Exchange Board of India (Sebi) was conducting a «comprehensive investigation» that «inspires confidence.» It asked the regulator to complete investigation within three months. Sebi has, so far, completed its Supreme Court-ordered probe into 22 of 24 items. The apex court also asked the Centre and Sebi to constructively consider suggestions of the six-member expert committee headed by former Supreme Court judge AM Sapre, and take further action to strengthen the regulatory framework, protect investors and ensure the orderly functioning of the securities market.

Vedanta Vedanta's alumina production at Lanjigarh refinery was up 6% year-on-year to 470kt in the quarter ended December. The cast metal aluminium production at smelters also rose 6% YoY. Bajaj Auto Bajaj Auto said that its board will have a meeting on January 8 to consider and approve buyback of shares. LTIMindtree The company has received an order from GST Mumbai office for demand worth Rs 208 crore. NHPC NHPC has signed a MoU with GPCL for proposed investment of Rs 4,000 crore in Kuppa Pumped Storage Project (750 MW). BGR Energy Central Bank of India and SBI have classified the company's accounts as non-performing assets. Read more: Here's the trade setup for today's session Tech Mahindra Richard Lobo has been appointed as Chief People Officer of the company with effect from January 3. Ujjivan SFB Ujjivan SFB's total deposits rose 29% to Rs 29,869 crore for the quarter ended December, while disbursements were up 17% to Rs 5,675 crore. IEX For the third quarter of the fiscal year 2024, IEX achieved 28,326 MU overall volume, registering an increase of 17% YoY basis. IndusInd Bank IndusInd Bank's net advances rose 20% YoY to Rs 3.26 lakh crore for the December quarter.

NEW DELHI : The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be "extraordinarily generous" to SEBI and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue. In a relief to the Adani Group, the Supreme Court refused to transfer the probe into the allegations of stock price manipulation by the Indian corporate giant to a special investigation team and directed market regulator SEBI to complete its probe into two pending cases within three months.

Adani Enterprises, Adani Ports, Adani Wilmar, Adani Power, Adani Energy Solutions, Adani Green Energy, Adani Total Gas, ACC, Ambuja Cements, and NDTV. As Mint reported earlier, a bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra will deliver the judgement at 10:30 am on as many as four petitions. The judgement on the PILs was reserved on November 24, 2023.

Catch all the LIVE updates on Adani Hindenburg Case Verdict hereThe Hindenburg Research said that the seven listed companies of the Adani group, have an 85% downside on a fundamental basis due to sky-high valuations, Hindenburg said in the report.The report pointed out the debt on the company. "Key listed Adani companies have also taken on substantial debt, including pledging shares of their inflated stock for loans, putting the entire group on precarious financial footing.

It was a comeback year for the world’s wealthiest.

tech magnates like Elon Musk and Mark Zuckerberg to oligarchs weathering sanctions, have seen their fortunes flourish. According to Bloomberg's tracking of the top 500 billionaires worldwide, a majority witnessed substantial wealth growth, with 77% experiencing unprecedented increases in their net worth. Despite 12 of the top 50 wealthiest individuals facing monetary setbacks, the remaining elites amassed staggering wealth, albeit not factoring in inflation adjustments.

Adani Green Energy, on Wednesday, announced that its promoters are set to inject ₹9,350 crore into the company through the preferential issuance of warrants, with each warrant priced at ₹1,480.75. The allocated funds will be predominantly use to reduce leverage on the balance sheet and support capital expenditure, the company said in a press release. The investment initiative uplifted investor sentiment, leading to an extension of Adani Green Energy's gains for the day.

The year started on a negative note as the equity bulls were nearly thrashed out by the bears. But the bulls picked themselves up from the ground and the run that they began in March was simply unstoppable. This tug-of-war between the bulls and the bears on Dalal Street was influenced by a zillion factors that unfolded during the course of the year. In this special year-ender 2023 section, ETMarkets has tried and wrapped all of those events. So, let’s do a recap of all of those movers and shakers on D-Street. January Just when investors were grappling with a high inflation and interest rate situation, US-based Hindenburg Research on January 25, threw a fireball on D-Street through a 106-page report filled with allegations against the Adani Group. The short seller accused the group of financial forgery, corporate misgovernance, stock price rigging, and highly leveraged balance sheets.

₹52,000 crore (more than $6 billion) in 2023 from global strategic investors, retirement, and insurance funds. This is nearly one-third of net foreign portfolio inflows (FPIs) into Indian equities this calendar year so far, reported Business Line. Investors acquired stakes in group firms for an amount of ₹52,570 crore during the period March to October, reveals the data sourced from Prime Database.

Adani Group and Icahn Enterprises Inc. have rounded out another remarkable year for activist short seller Hindenburg Research. The US firm kicked off 2023 with allegations of accounting fraud and stock manipulation against Indian billionaire Gautam Adani’s conglomerate that led to a market value erosion of more than $150 billion at one point.

Adani Enterprises, Indian billionaire Gautam Adani's flagship firm, said on Saturday it had acquired a majority stake in news agency Indo-Asian News Service or IANS as the conglomerate tries to consolidate its media presence. The Adani group said in a statement that upon acquiring a 50.5% stake for 510,000 rupees ($6,140), it would assume full operational and management control of IANS. The news agency reported a revenue of over 118.6 million rupees in the 2022/23 financial year. Adani entered the media industry in March last year by acquiring Quintillion Business Media, which operates business and financial news digital media platform BQ Prime. Later in December 2022, it acquired almost a 65% stake in the broadcaster NDTV.

Adani Group Chairman Gautam Adani on Friday said that Adani Total Gas Ltd is on target to install 75,000 electric vehicle (EV) charging stations by 2030. Taking to social media platform X (formerly Twitter), Adani said that the enterprise is carrying out ‘massive expansions’ with CNG and PNG and through its Greenmosphere initiative, has also planted 2,20,000 trees. «Adani Total Gas Ltd is on the move! Our massive expansion continues with CNG and PNG, compressed biogas, and e-mobility. We are on target for installing 75,000 EV charging stations by 2030,» Adani said, adding that all of the company's own 50 sites are now powered by rooftop solar panels.

Trinamool Congress leader in Lok Sabha Sudip Bandyopadhyay Friday described the Ethics Committee's recommendation to expel party MP Mahua Moitra in a «cash-for-query» allegation as «political vendetta» and claimed that it was aimed at stopping her from raising issues against the Adani Group. Bandyopadhyay said he had a one-on-one meeting with Lok Sabha Speaker Om Birla, who informed him that the report would be tabled along with a resolution.

COP28 Summit, Adani Group Chairman Gautam Adani has today announced the group's "commitment to revolutionise the cement industry" through sustainable practices. In a post on social media site X (formerly known as Twitter), Adani said group companies Ambuja Cements and ACC are leading sustainable practices in the cement industry, adding that more than 90 percent of their production now recycles fly ash and slag. He further noted that the "significant shift" not only enhances the cement's environmental footprint, but also "marks a substantial step towards sustainability".

Adani Group has plans to invest USD 75 billion on energy transition initiatives by 2030, its chairman Gautam Adani said on Wednesday. The investments will boost the group's vision to have 45 gigawatt of renewable energy capacity by 2030, Adani said in a statement.

Gautam Adani has climbed to the 15th spot in the Bloomberg Billionaire Index (BBI) as of December 6, reaching within close distance of India's and Asia's richest man Mukesh Ambani. With net worth of $82.5 billion, the Adani Group founder is now the world's 15th richest person and the second richest Indian and Asian on the list. He has gained $12.3 billion from the last list position, but lost $38 billion year-to-date (YTD) – most of this loss can be attributed to the wealth bleed during the Hindenberg allegations.