Adani Enterprises has been in the news since January 25 when US-based Hindenburg Research released a report levelling allegations of fraud against Gautam Adani and the conglomerate.
Adani Enterprises has been in the news since January 25 when US-based Hindenburg Research released a report levelling allegations of fraud against Gautam Adani and the conglomerate.
The group has been in a course correction mode since then, first it struggled to get subscriptions for its ₹20,000-crore follow-on-public offer, then they called off the fully subscribed issue on the pricing grounds.
The group has been in a course correction mode since then, first it struggled to get subscriptions for its ₹20,000-crore follow-on-public offer, then they called off the fully subscribed issue on the pricing grounds.
Recently Adani group hired US-based law firm Wachtell to take on a legal battle against Hindenburg in the US. The law firm is known to be fierce at activism defence. This is the same firm that helped Elon Musk take over Twitter.
Recently Adani group hired US-based law firm Wachtell to take on a legal battle against Hindenburg in the US. The law firm is known to be fierce at activism defence. This is the same firm that helped Elon Musk take over Twitter.
Adani Group has appointed accountancy firm Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds, Reuters reported.
Adani Group has appointed accountancy firm Grant Thornton for independent audits of some of its companies in a bid to discredit claims by short-seller Hindenburg Research that have battered its stocks and bonds, Reuters reported.
Today the company will announce its third quarter numbers. While the numbers may not reflect any impact of the report findings as the results are for period ending December 31, 2022, but the key to watch out would be the commentary by the company.
Today the company will announce its third quarter numbers. While the numbers may not reflect any impact of the report findings as the results are for period ending December 31, 2022, but the key to watch out would be the commentary by the company.
Read all Adani stories here
Read all Adani stories here
Experts believe the company will put out a brave face and will highlight the measures they have taken in the past few days, such as reducing debt. The management would also like to ensure investors of the good financial health of the group and its expansion plans.
Experts believe the company will put out a brave face and will highlight the measures they have taken in the past few days, such as reducing debt. The management would also like to ensure investors of the good financial health of the group and its expansion plans.
Adani Enterprises is the flagship company of the group and the management may use the opportunity to soothe investor nerves.
Adani Enterprises is the flagship company of the group and the management may use the opportunity to soothe investor nerves.
The Adani group stocks - Adani Enterprises, Adani Ports, Adani Green, Adani Transmission, Adani Total Gas, Adani Wilmar, and the recently-added ACC, Ambuja Cements and NDTV - have been very volatile since the Hindenburg report came out.
The Adani group stocks - Adani Enterprises, Adani Ports, Adani Green, Adani Transmission, Adani Total Gas, Adani Wilmar, and the recently-added ACC, Ambuja Cements and NDTV - have been very volatile since the Hindenburg report came out.
Adani Enterprises share price has almost halved from ₹3,389 on January 25 to ₹1,717 on February 13.
Adani Enterprises share price has almost halved from ₹3,389 on January 25 to ₹1,717 on February 13.
At 11.30 am, the stock was down close to 3%, or ₹49, at ₹1,668.55 ahead of its earnings.
At 11.30 am, the stock was down close to 3%, or ₹49, at ₹1,668.55 ahead of its earnings.
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