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 Adani Stocks News: Group companies end trading day mixed; 4 stocks 

Adani Group touts 'very healthy' balance sheet in bid to calm investors

Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said the group is confident of its internal controls, compliance and corporate governance.

Separately, it released a compendium of group companies to highlight that it has adequate cash reserves and has ability to refinance debt.

"Our balance sheet is very healthy. We have industry-leading development capabilities, strong corporate governance, secure assets and strong cash flows," Singh said. "Once the current market stabilises, we will review our capital market strategy, but rest assured we are confident in our continued ability to deliver business that provides superior returns to shareholders."

The group has been under pressure since the Hindenburg Research on January 24 accused it of accounting fraud and stock manipulation, allegations that the conglomerate has denied as "malicious", "baseless" and a "calculated attack on India".Individual stock investors in India are keeping faith in the country’s $3.1 trillion equity market even after a punishing selloff in Adani Group shares threatened to drag down one of the world’s best-performing indexes since the pandemic.

Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $130 billion from the value of Adani shares won’t damp the long-term prospects for the nation’s equities. The ship-broker, who previously owned Adani group stocks, plans to continue investing in companies such as commodity businesses that benefit from India’s expanding middle class.

“India is a great consumption story and I am confident this journey will continue,” Mumbai-based Mistri said in a phone interview.

Retail investors such as Mistri are part of a groundswell that is changing the face of the world’s second-biggest emerging market. Roughly 1 million new trading accounts are opened every month, and the total has now climbed above 110 million, more than the populations of South Korea and Spain combined.Not sure what stocks to buy or sell? Know it all on our app.

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Adani Stocks News: Group companies end trading day mixed; 4 stocks at lower circuits

Economic Times | Feb 15, 2023 04:28 PM

Adani Stocks News: Group companies end trading day mixed; 4 stocks at lower circuits

Embattled billionaire Gautam Adani is finding it tough to placate investors as the sell-off in Adani stocks is deepening with each passing day. On Wednesday morning, at least four Adani stocks - Adani Transmission, Adani Green Energy, Adani Total Gas and Adani Power - were locked in their 5% lower circuit limits.

The ports-to-edible oil conglomerate's flagship Adani Enterprises stock was up over 2% after reporting consolidated net profit of Rs 820 crore for the quarter ended December, against a net loss of Rs 11.63 crore a year ago.

Adani Wilmar, Ambuja Cements, NDTV, ACC and Adani Ports were trading in the green zone.

04:27 PM

We have an impeccable track record of responsibly managing our balance sheet. We are undisputed leaders in executing complex infrastructure projects. Whilst in the initial stages of a new project, our leverage tends to increase the nature of our infrastructure assets generating strong cashflow results in rapid deleveraging. AEL has demonstrated this effect over the past nearly 3 decades

- Jugeshinder Singh, CFO, Adani Ent

04:20 PM

Adani Group touts 'very healthy' balance sheet in bid to calm investors

Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said the group is confident of its internal controls, compliance and corporate governance.

Separately, it released a compendium of group companies to highlight that it has adequate cash reserves and has ability to refinance debt.

"Our balance sheet is very healthy. We have industry-leading development capabilities, strong corporate governance, secure assets and strong cash flows," Singh said. "Once the current market stabilises, we will review our capital market strategy, but rest assured we are confident in our continued ability to deliver business that provides superior returns to shareholders."

The group has been under pressure since the Hindenburg Research on January 24 accused it of accounting fraud and stock manipulation, allegations that the conglomerate has denied as "malicious", "baseless" and a "calculated attack on India".

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03:44 PM

Adani stocks end mixed; 4 counters end at lower circuits

Adani Enterprises 1779.10 29.40(1.68)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 569.05 3.95(0.70)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

ACC 1852.15 21.85(1.19)

NDTV 197.05 8.85(4.70)

Adani Wilmar 397.55 4.15(1.05)

Ambuja Cements 344.85 8.35(2.48)

02:16 PM

Only 3 Adani stocks trade in the red

Adani Enterprises 1774.95 25.25(1.44)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 566.45 1.35(0.24)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

Adani Wilmar 397.40 4.00(1.02)

ACC 1846.30 16.00(0.87)

Ambuja Cements 343.20 6.70(1.99)

NDTV 191.45 3.25(1.73)

01:37 PM

Earnings snapshot: How 10 Adani group companies fared in Dec quarter

Earnings snapshot: How 10 Adani group companies fared in Dec quarter

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01:25 PM

Supreme Court to hear on Feb 17 fresh plea seeking probe into Adani group of companies in wake of Hindenburg report (From Agencies)

01:22 PM

Retail investors keep faith on Indian stocks despite $129 billion rout in Adani

Individual stock investors in India are keeping faith in the country’s $3.1 trillion equity market even after a punishing selloff in Adani Group shares threatened to drag down one of the world’s best-performing indexes since the pandemic.

Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $130 billion from the value of Adani shares won’t damp the long-term prospects for the nation’s equities. The ship-broker, who previously owned Adani group stocks, plans to continue investing in companies such as commodity businesses that benefit from India’s expanding middle class.

“India is a great consumption story and I am confident this journey will continue,” Mumbai-based Mistri said in a phone interview.

Retail investors such as Mistri are part of a groundswell that is changing the face of the world’s second-biggest emerging market. Roughly 1 million new trading accounts are opened every month, and the total has now climbed above 110 million, more than the populations of South Korea and Spain combined.

Retail investors keep faith on Indian stocks despite $129 billion rout in Adani

12:38 PM

Barring 4 group stocks, other Adani companies trade higher in trade

Adani Enterprises 1792.95 43.25(2.47)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 572.50 7.40(1.31)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

Adani Wilmar 399.40 6.00(1.53)

Ambuja Cements 348.00 11.50(3.42)

ACC 1858.95 28.65(1.57)

NDTV 193.00 4.80(2.55)

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11:46 AM

Adani stocks wipe off Rs 10.45 lakh crore of investor wealth in 15 sessions

Adani bulls suffered a loss of about Rs 5,600 crore today as the market capitalisation of all 10 stocks in the pack decreased to Rs 8.75 lakh crore. In the last 15 sessions, the stocks have lost around Rs 10.45 lakh crore.

11:35 AM

Adani Power hits lower circuit for 5th straight day, stock falls 23% in 5 days

Shares of billionaire Gautam Adani-led Adani Power hit another 5% lower circuit at Rs 140.9 in Wednesday's trade on BSE. The stock has fallen nearly 23% since its December quarter results.

Adani Power last Wednesday reported a 96% fall in consolidated net profit at Rs 9 crore for the December quarter compared with Rs 218 crore in the corresponding quarter of last year.

However, revenue from operations surged 45% year-on-year (YoY) to Rs 7,764 crore for the quarter under review, mainly due to greater regulatory claims, increased operating capacity, and improvedIndian billionaire Gautam Adani’s embattled conglomerate said it has adequate cash reserves and its listed companies are able to refinance their debts.

The comments came in a credit report aimed at reassuring investors after a critical investigation by US short-seller Hindenburg Research last month. Scrutiny of the cash position of group companies has intensified as they pay down borrowings, given that a spike in yields on Adani debt after the Hindenburg report would make refinancing prohibitively expensive.

Adani Group’s gross debt stood at 2.26 trillion rupees ($27.3 billion) at the end of September, and that amount is forecast to remain steady through the end of March, according to the group’s release on Tuesday. The figure broadly matches the tally cited by the company’s chief financial officer at the end ofNot sure what stocks to buy or sell? Know it all on our app.

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Open App

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Special OfferGet APP

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Adani Stocks News: Group companies end trading day mixed; 4 stocks at lower circuits

Economic Times | Feb 15, 2023 04:28 PM

Adani Stocks News: Group companies end trading day mixed; 4 stocks at lower circuits

Embattled billionaire Gautam Adani is finding it tough to placate investors as the sell-off in Adani stocks is deepening with each passing day. On Wednesday morning, at least four Adani stocks - Adani Transmission, Adani Green Energy, Adani Total Gas and Adani Power - were locked in their 5% lower circuit limits.

The ports-to-edible oil conglomerate's flagship Adani Enterprises stock was up over 2% after reporting consolidated net profit of Rs 820 crore for the quarter ended December, against a net loss of Rs 11.63 crore a year ago.

Adani Wilmar, Ambuja Cements, NDTV, ACC and Adani Ports were trading in the green zone.

04:27 PM

We have an impeccable track record of responsibly managing our balance sheet. We are undisputed leaders in executing complex infrastructure projects. Whilst in the initial stages of a new project, our leverage tends to increase the nature of our infrastructure assets generating strong cashflow results in rapid deleveraging. AEL has demonstrated this effect over the past nearly 3 decades

- Jugeshinder Singh, CFO, Adani Ent

04:20 PM

Adani Group touts 'very healthy' balance sheet in bid to calm investors

Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said the group is confident of its internal controls, compliance and corporate governance.

Separately, it released a compendium of group companies to highlight that it has adequate cash reserves and has ability to refinance debt.

"Our balance sheet is very healthy. We have industry-leading development capabilities, strong corporate governance, secure assets and strong cash flows," Singh said. "Once the current market stabilises, we will review our capital market strategy, but rest assured we are confident in our continued ability to deliver business that provides superior returns to shareholders."

The group has been under pressure since the Hindenburg Research on January 24 accused it of accounting fraud and stock manipulation, allegations that the conglomerate has denied as "malicious", "baseless" and a "calculated attack on India".

ADVERTISEMENT

03:44 PM

Adani stocks end mixed; 4 counters end at lower circuits

Adani Enterprises 1779.10 29.40(1.68)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 569.05 3.95(0.70)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

ACC 1852.15 21.85(1.19)

NDTV 197.05 8.85(4.70)

Adani Wilmar 397.55 4.15(1.05)

Ambuja Cements 344.85 8.35(2.48)

02:16 PM

Only 3 Adani stocks trade in the red

Adani Enterprises 1774.95 25.25(1.44)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 566.45 1.35(0.24)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

Adani Wilmar 397.40 4.00(1.02)

ACC 1846.30 16.00(0.87)

Ambuja Cements 343.20 6.70(1.99)

NDTV 191.45 3.25(1.73)

01:37 PM

Earnings snapshot: How 10 Adani group companies fared in Dec quarter

Earnings snapshot: How 10 Adani group companies fared in Dec quarter

ADVERTISEMENT

01:25 PM

Supreme Court to hear on Feb 17 fresh plea seeking probe into Adani group of companies in wake of Hindenburg report (From Agencies)

01:22 PM

Retail investors keep faith on Indian stocks despite $129 billion rout in Adani

Individual stock investors in India are keeping faith in the country’s $3.1 trillion equity market even after a punishing selloff in Adani Group shares threatened to drag down one of the world’s best-performing indexes since the pandemic.

Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $130 billion from the value of Adani shares won’t damp the long-term prospects for the nation’s equities. The ship-broker, who previously owned Adani group stocks, plans to continue investing in companies such as commodity businesses that benefit from India’s expanding middle class.

“India is a great consumption story and I am confident this journey will continue,” Mumbai-based Mistri said in a phone interview.

Retail investors such as Mistri are part of a groundswell that is changing the face of the world’s second-biggest emerging market. Roughly 1 million new trading accounts are opened every month, and the total has now climbed above 110 million, more than the populations of South Korea and Spain combined.

Retail investors keep faith on Indian stocks despite $129 billion rout in Adani

12:38 PM

Barring 4 group stocks, other Adani companies trade higher in trade

Adani Enterprises 1792.95 43.25(2.47)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 572.50 7.40(1.31)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

Adani Wilmar 399.40 6.00(1.53)

Ambuja Cements 348.00 11.50(3.42)

ACC 1858.95 28.65(1.57)

NDTV 193.00 4.80(2.55)

ADVERTISEMENT

11:46 AM

Adani stocks wipe off Rs 10.45 lakh crore of investor wealth in 15 sessions

Adani bulls suffered a loss of about Rs 5,600 crore today as the market capitalisation of all 10 stocks in the pack decreased to Rs 8.75 lakh crore. In the last 15 sessions, the stocks have lost around Rs 10.45 lakh crore.

11:35 AM

Adani Power hits lower circuit for 5th straight day, stock falls 23% in 5 days

Shares of billionaire Gautam Adani-led Adani Power hit another 5% lower circuit at Rs 140.9 in Wednesday's trade on BSE. The stock has fallen nearly 23% since its December quarter results.

Adani Power last Wednesday reported a 96% fall in consolidated net profit at Rs 9 crore for the December quarter compared with Rs 218 crore in the corresponding quarter of last year.

However, revenue from operations surged 45% year-on-year (YoY) to Rs 7,764 crore for the quarter under review, mainly due to greater regulatory claims, increased operating capacity, and improved tariff realization.

10:38 AM

I definitely think that there is a case for some value in names like Ambuja and Adani Port but exactly at what point the sector or the names will stabilise, that is not too clear. Also, this MSCI impact is to a great extent known and you will see some sell flows around it but I personally feel it would be prudent to stay away from the names till we get a little bit of stability in terms of how exactly it is going to unfold, rather than trying to get into it and find yourself in the middle of intense volatility. So better to avoid it at this point.

- Hemang Jani, Equity Strategist & Senior Group VP, MOFSL

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10:26 AM

Adani group touts cash reserves in bid to calm investors

Indian billionaire Gautam Adani’s embattled conglomerate said it has adequate cash reserves and its listed companies are able to refinance their debts.

The comments came in a credit report aimed at reassuring investors after a critical investigation by US short-seller Hindenburg Research last month. Scrutiny of the cash position of group companies has intensified as they pay down borrowings, given that a spike in yields on Adani debt after the Hindenburg report would make refinancing prohibitively expensive.

Adani Group’s gross debt stood at 2.26 trillion rupees ($27.3 billion) at the end of September, and that amount is forecast to remain steady through the end of March, according to the group’s release on Tuesday. The figure broadly matches the tally cited by the company’s chief financial officer at the end of January.

10:04 AM

There are multiple factors at play in the markets. Apart from the Adani issue, other issues markets are focusing on are the relative valuation of India vs other economies. Last year Indian equities clearly outperformed other markets but right now with chances of a hard landing of the US economy being ruled out and China opening, FIIs have other options as well.

09:38 AM

Most Adani stocks trade higher in morning trade

Adani Enterprises 1797.75 48.05(2.75)

Adani Total Gas 1076.40 -56.65(-5.00)

Adani Ports & Special Economic Zone 569.00 3.90(0.69)

Adani Transmissions 1017.45 -53.55(-5.00)

ADANIGREEN 621.00 -32.65(-5.00)

Adani Power 140.80 -7.40(-4.99)

Adani Wilmar 402.85 9.45(2.40)

ACC 1836.35 6.05(0.33)

Ambuja Cements 342.55 6.05(1.80)

NDTV 186.90 -1.30(-0.69)

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09:36 AM

Adani says no refinancing, liquidity issues in bid to calm jittery investors

India's Adani group said on Tuesday that its companies face no material refinancing risk, or near-term liquidity issues, in its latest attempt to calm investors spooked by a U.S. short-seller's critical report on its business practices.

Led by billionaire Gautam Adani, the group's seven listed companies bearing his name have together lost about $120 billion in market value since a Jan. 24 report by Hindenburg Research alleged improper use of offshore tax havens and stock manipulation, and flagged concerns over high debt.

Adani has rejected the concerns in detailed rebuttals of the Hindenberg report's allegations and criticism that it had unsustainable debt.As part of its defense against recent allegations of fraud, Adani Group companies have pointed to their commitments to ESG principles and global frameworks. One of ESG’s most influential gatekeepers will soon render its own judgment. MSCI Inc. will release the results of a quarterly review for its ESG and climate indexes this week, the first since a short-seller attack on the Adani Group triggered a $100 billion selloff. If it reflects a significant downgrade in the ESG ratings of any of the Adani companies, they could be removed from ESG indexes and trigger a fresh round of sellingThe Adani Group is in talks with lenders to repay the $500 million bridge loan facility it had availed of to purchase a controlling stake in Holcim's cement units last year, said two people with knowledge of the matter. The bridge loan has a tenor of six months and was part of the larger financing package of $5.25 billion, which included a $3 billion senior debt with a tenor of 18 months, a $1 billion mezzanine facility with tenor of 24 months and a $750 million loan against sharesAdani Enterprises will move out of the short-term additional surveillance measure (ASM) framework of the National Stock Exchange a month after it was put under this framework along with 2 other Adani Group stocks in the wake of the massive sell-off in stocks.

The stock will move out of the framework with effect from Wednesday, according to an exchange circular.The company has announced withdrawal of its delisting offer. Its shareholders had approved the delisting of company's shares on the BSE and NSE in July 2020, and had submitted application for approval for the delisting to the exchanges in January 2021. The company has not received in principle approval of the exchanges. And hence it is withdrawing offer for delisting on account of delay and commercial viability.

For the September 2021 quarter, Adani group recorded a combined net loss of Rs 230.60 crore, due to lesser revenues. According to a BSE report, the company's consolidated net profit for the quarter ended September 30, 2020 was Rs 2,228.05 crore.

" The company faced a total comprehensive loss after tax of (-) Rs 239 crore for Q2 FY2021-22, compared to an income of Rs 2,216 crore for Q2 FY2020-21, this was due to a massive role of one-time items to post-tax profit in Q2 of the previous year" the company said in a statement.

The company's overall income for the quarter was Rs 5,571,76 crore, down from Rs 8,792,28 crore a year before.

According to the company, greater one-time revenue recognition of Rs 3,233 crore in the second quarter of the previous year was due to different regulatory directives.

Adani power share price live

Why are Adani Group's stock prices falling?

The media reports stating that the National Securities Depository Ltd (NSDL) had frozen the accounts of three foreign entities that had made big investments in Adani Group shares were the trigger for the twist of events.

While the National Securities Depository Ltd has denied such allegations, multiple reports have shown that they are accurate. Since then, four of the Adani Group's firms have lost more than Rs 43,500 crore.

Fall in Adani's wealth

Gautam Adani's fortune has been harmed by the collapse in the share prices of the Adani Group firms. His net worth was reported to be approximately $7,590 crores as of October 2021.

The Adani Group's Adani Power Ltd (APL) is India's largest private thermal power station.

Apart from a 40-MW solar power plant in Gujarat, the firm has a total installed thermal power capacity of 12,410 megawatts (MW) split over six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh. Adani Power is on track to meet its development potential, thanks to a world-class team of professionals in every aspect of power.

The firm is using technology and creativity to help India become a power-surplus nation, with high-quality, low-cost electricity for everybody.