Adani shares News

Adani Green Energy's total traded volume so far in the day stood at 7.1 times its 30-day average, while the RSI was at 47. Adani Power's total traded volume so far in the day stood at 13 times its 30-day average, while the RSI was at 57. 

Eight months after the Hindenburg Report, now another bomb has exploded on the Adani Group. Organization of investigative journalists from around the world, Organized Crime And Corruption Reporting Project..OCCRP has made many revelations by releasing a report on the game of shares in Adani Group. By the way, these revelations are similar to the Hindenburg Report. It has been said in the report that the price of shares has been wrongly increased. And for this people associated with Adani Group have invested illegally in companies of Adani Group by forming companies abroad.

Congress leader Rahul Gandhi has held a press conference before the meeting of India Alliance in Mumbai. During this time he has tried to corner the government on the Adani case. Rahul Gandhi has also made many serious allegations. OCCRP has made a new disclosure about Adani Group, in which it is being claimed that Adani Group has made manipulations in shares.

Adani Group stocks are trading down following the report. Adani Enterprises, Adani Ports, and Adani Power are down more than 2 percent, Adani Green Energy down 3.5 percent.

The majority of the group companies also ended in the green. Adani Ports jumped 4.47 percent, Ambuja Cements climbed 1.91 percent, Adani Enterprises gained 1.45 percent, NDTV (1.26 percent), ACC (0.64 percent), and Adani Transmission (0.42 percent).

The stock of Adani Green Energy declined by 3.22 percent, Adani Wilmar (3.14 percent), Adani Total Gas (3 percent), NDTV (3 percent) and ACC (2.23 percent).

Solicitor General Tushar Mehta, appearing for SEBI, told the top court they had on Monday filed their "constructive response" on the suggestions made by the expert committee in its report filed in the court.

The authorities are looking into the representations that Adani made to its American investors following short-seller Hindenburg's report, the Bloomberg report said.

Chinh said Vietnam welcomed Adani's investment, initially in Lien Chieu Port in the central city of Danang, according to the statement.

The committee said it is apparent that Sebi was actively engaged with developments and price movements in the market.

U.S.-based short-seller Hindenburg Group's January report battered investor confidence and drove the group's share prices down.

Total income however fell to Rs 10,795 crore from Rs 13,307 crore in the year-ago quarter.

The Supreme Court had on March 2 asked the Securities and Exchange Board of India (SEBI) to conclude within two months its probe into allegations levelled by US short-seller Hindenburg Research against Adani Group.

Supreme Court on March 2 set up an expert committee on the issue arising from the Hindenburg Research report on Adani Group companies.

Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.

Shares of Adani Transmission jumped 5 percent, Adani Green Energy advanced 5 percent, Adani Total Gas rallied 5 percent and Adani Enterprises climbed 2.53 percent

The Godda Power Plant is a strategic asset in India-Bangladesh's long-standing relationship, said S B Khyalia, CEO of Adani Power, in the statement.

"APJL has started processing its claims under the PPA with effect from April 6, 2023," Adani Group company said.  

Hindenburg's report released on Jan. 24 eroded more than $100 billion in the value of shares in Adani group of companies and forced it to scale back some of its aggressive expansion plans. 

Karaikal Port is an all-weather deep-water port in Puducherry with five operational berths, three railway sidings, total land area of over 600 hectares.