Adani Group
S&P places Adani Transmission's ESG evaluation under review on potential governance issues
This follows recent allegations of significant governance issues at the Adani group of companies. "We aim to complete our review of the ESG Evaluation in the coming months. We will assess the implications of the allegations on our ESG Evaluation," S&P Global said.
Adani Enterprises post net profit of Rs 820 cr in Q3, revenue up 42%
The company's revenue from operations surged 42 per cent to more than Rs 26,000 crore, while EBIDTA doubled year-on-year to Rs 1,968 crore. "Our fundamental strength lies in mega-scale infrastructure project execution capabilities, organisational development and exceptional O&M management skills comparable to the best in the world," said Adani group Chairman Gautam Adani.
Adani Enterprises Q3 net at Rs 820 crore
According to the company, it had earned a total income of Rs 26,950.83 crore for the quarter ended December 31, 2022 (Q3FY21 Rs 18,963.40 crore) and a net profit of Rs 820.06 crore (net loss of Rs 11.63 crore). For the nine month period Adani Enterprises' total income stood at Rs 106,458.72 crore (Rs 70,432.69 crore) and a net profit of Rs 1,750.46 crore (Rs 776.56 crore).
Adani Group share crash: Govt agrees to SC proposal for expert panel to study regulatory mechanisms for stock market
The Centre also wanted to provide details such as names and the scope of the panel’s mandate in a “sealed cover”. The Securities and Exchange Board of India (SEBI) also informed the Supreme Court that it was already conducting an investigation into the Hindenburg report and related market activities. SEBI submitted a 25-page note to a bench led by Chief Justice of India Dhananjaya Y Chandrachud, stating that it did not object to the formation of a committee, as proposed by the court on February 10.
Sebi 'fully equipped', could set up a panel of experts, Centre to SC on Adani issue
Solicitor General Tushar Mehta, representing the Centre, submitted before a bench headed by Chief Justice of India D.Y. Chandrachud that: "Our instructions are that existing structure - Sebi and other agencies - are fully equipped not only regime wise but otherwise also, in taking care of the situation.
Adani fights back - and it's helping
The aftershocks of the report rattled the group and its impact was felt by markets as well. The group began its slow and steady fightback, and did many things to restore its image and credibility among various stakeholders. The stock markets, which had witnessed crazy volumes and price movements in the Adani pack, saw volumes reducing significantly last week. The exchanges took measures to curtail volatility and introduced higher margins on the stocks. Further the price volatility seems to be subsiding and things are getting back on track.
Regulators are experts in their domain, says FM on Adani row
She said this when asked to react to Supreme Court's observation on the Hindenburg-Adani group controversy. The Supreme Court on Friday heard a petition seeking its intervention in the Adani row. Chief Justice D.Y. Chandrachud, while hearing the matter on Friday, said that "Do we intervene and have a mechanism to ensure this doesn't happen again? We do not want to get into policy matters. That is for the government."
Adani Group hires US legal firm Wachtell to take on Hidenberg Research: Report
The fact that the Adani Group has chosen to retain the services of Wachtell, which is considered to be one of the most expensive law firms in the United States, highlights the intense international pressure the group is facing following Hindenburg's allegations. For many years, Wachtell has been one of the most sought-after advisers by corporate boards at some of the largest US companies that are trying to protect themselves from hostile takeovers and activist investors.
Moody's turn 'moody' on 4 Adani Group companies
The credit rating agency changed its outlook to 'negative' from 'stable' in the case of four Adani Group companies. According to Moody's, the eight companies are: Adani Ports and Special Economic Zone Limited (APSEZ) - Baa3 ratings affirmed; outlook remains stable, Adani International Container Terminal Private Ltd (AICTPL) - Baa3 ratings affirmed; outlook remains stable
LIC announces net at Rs 22,970 cr, to meet Adani group officials
The life insurer has about four per cent of its equity investment portfolio in Adani Group companies. According to LIC, for the nine months ending December 31, the company had logged a total premium of Rs 3,42,244 crore (Rs 2,83,673 crore in 9 months ending December 31, 2021) and a net profit of Rs 22,970 crore (Rs 1,672 crore).
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