Adani Enterprises jumps 4% post AGM. 4 takeaways from Gautam Adani's speech

economictimes.indiatimes.com:

Adani Enterprises shares jumped nearly 4% in intra-day trade on Tuesday following Gautam Adani's address to the shareholders during the company's Annual General Meeting (AGM). Barring ACC, 8 Adani Group stocks — Adani Ports & Special Economic Zone, Adani Power, Adani Green Energy, Adani Transmission, Adani Total, Adani Wilmar, Ambuja Cements were trading in the black and gained up to 1.54% around the time of the speech.

Here are the key takeaways from Adani Group's Founder & Chairman's speech:1) On Hindenburg AllegationsAdani said that the US-based short seller's report around the largest Follow-on Public Offering in India’s history was a combination of targeted misinformation and discredited allegations, the majority of them dating from 2004-2015. They were all settled by the appropriate authorities at that time.

«The report was a deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices.» Various vested interests tried to exploit the claims made by the short seller but the Hon’ble Supreme Court Expert Committee did not find any regulatory failure, he added. Sebi is still to submit its report, but we remain confident of our governance and disclosure standards.

«Even during this crisis, the company raised several billions from international investors. No credit agency in India or abroad cut any ratings,» he added.2) On ResultsOur FY22-23 operational and financial results are as much a testimony to our success as the testimony to the continued expansion of our customer base – be it on the B2B side or the B2C side, Adani Chairman said.