INPP1

Adani loses Asia’s richest crown as inventory rout deepens to $84 billion

by

BENGALURU, Feb 1 (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged once more on Wednesday as a rout in his firms deepened to $84 billion within the wake of a U.S. short-seller report, with the billionaire additionally dropping his title as Asia’s richest individual. Wednesday’s inventory losses noticed Adani slip to fifteenth on … Read more

Adani’s essential share sale 85% subscribed as establishments pump in funds

by

MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale inched nearer to full subscription on Tuesday as buyers pumped in funds after a tumultuous week for his group through which its shares have been pummeled by a scathing short-seller report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was subscribed … Read more

Hindenburg shorts India’s Adani Group, flags debt and accounting considerations

by

BENGALURU, Jan 25 (Reuters) – Hindenburg Analysis mentioned on Wednesday it held quick positions in India’s Adani Group, accusing the conglomerate of improper intensive use of entities arrange in offshore tax havens and expressing concern about excessive debt ranges. The report, which comes days forward of a $2.5 billion share providing by flagship agency Adani … Read more

India makes inroads into Sri Lanka beneath China’s lengthy shadow

by

COLOMBO/NEW DELHI, Dec 27 (Reuters) – When Sri Lanka slid into its worst financial disaster in seven a long time resulting in lethal riots and alarming shortages of gas, meals and medicines earlier this yr, its big northern neighbour stepped into the breach. India offered about $4 billion in fast help between January and July, … Read more