Most Adani group shares extended their sharp falls as a detailed rebuttal of a U.S. short-seller's criticisms by the Indian conglomerate failed to pacify investors whose market losses have now risen to $65 billion over three days
at the planned issue price, even as sources said bankers of the country's largest secondary share sale were considering extending the timeline beyond Jan. 31, or tweaking the price due to the fall in its share price.
On Monday, responding to Adani's rebuttal, Hindenburg said the "response largely confirmed our findings and ignored our key questions.", a school-dropout who rose swiftly in recent years to become the world's third richest man, before slipping to rank eighth on the Forbes list. It said key listed Adani companies had "substantial debt" which has put the entire group on a "precarious financial footing" and that shares in seven Adani listed companies have an 85% downside due to what it called "sky-high valuations".
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Latinos contributed $65 billion to the Phoenix-area economyThat's higher than the entire economies of the states of Maine and North Dakota, Bank of America's 2023 Latino GDP report found.
Weiterlesen »
Adani's $2.5 billion share sale faces crucial day after Indian routSeven companies in the conglomerate, led by Asia's richest man, saw sharp falls in their values after a Hindenburg Research report flagged concerns about high debt levels and the use of tax havens.
Weiterlesen »
Indian shares set to rise after a rout set off by Adani stocksIndian shares are set to open higher on Monday tracking gains in global equities on hopes of the U.S. Federal Reserve easing its aggressive monetary policy stance, erasing some of the losses over the previous two sessions due to a sell off in Adani Group stocks.
Weiterlesen »
Breakingviews - Breakingviews: Adani’s financing safety-net rests on Indian banksGautam Adani’s financing options are narrowing fast. Investors wiped $48 billion off the Indian tycoon’s listed companies in just two days last week; his flagship Adani Enterprises lost 19% of its value on Friday alone. While the nationally important ports-to-power-to-roads group should be able to manage its interest bill, the selloff blows apart Adani’s plans to tap global capital markets. That leaves it dependent on a safety net provided by Indian banks.
Weiterlesen »
Adani Enterprises shares rise but other group stocks plunge after short-seller attackShares in India's Adani Enterprises rose as much as 9.5% on Monday but those of several other group companies plunged for the third straight day, extending their losses after a U.S. short-seller's report that criticised the group.
Weiterlesen »
Adani Group: Hindenburg report intended to create false marketIndia's Adani Group said on Sunday that a Jan. 24 report by short seller Hindenburg Research that led to a $48 billion rout in its stock was intended to create a false market to enable the short seller to book gains.
Weiterlesen »