Adani Group on Monday said that the promoters will pre-pay $1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports and Special Economic Zones, Adani Green Energy and Adani Transmission, a statement said. “This is in continuation of promoters’ assurance to pre-pay all share-backed financing,” it said.
Posts tagged Rediff
Auto retail sales rise 14% in Jan: FADA (06-02-2023)
Automobile retail sales in India rose 14 per cent in January on the back of robust registrations across passenger vehicles, two-wheelers and tractors, dealers’ body Federation of Automobile Dealers Associations said on Monday. Total sales across categories last month rose to 18,26,669 units, as compared to 16,08,505 units in January 2022. Passenger vehicle registrations rose to 340,220 units last month, an increase of 22 per cent as compared to 279,050 units in the year-ago period.
Petrol doped with 20% ethanol starts retailing (06-02-2023)
Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. Prime Minister Narendra Modi launched the higher 20 per cent ethanol blended petrol two months ahead of the planned rollout in April, at the India Energy Week (IEW) 2023 in Bengaluru.
Can Adani Do A Dhirubhai? (06-02-2023)
The last time a bear attack was launched on a controversial businessman was when a cabal of brokers launched an assault in the early 1980s on what they thought was an over-priced Reliance share, recalls T N Ninan.
‘Adani affair overshadowed Budget’s stability’ (06-02-2023)
‘That is the one headline the world is reading about India this week, and it is a potentially damaging story…’ ‘I don’t think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.’
Not naming Adani, SEBI cites ‘unusual price movement’ (04-02-2023)
Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.
FM on Adani fallout: Regulators will look into it (04-02-2023)
India’s economic image is not affected due to Adani Group’s recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
‘Private Sector Is Not Firing At 100%’ (04-02-2023)
‘They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.’
Budget Good 1st Act. RBI’s Monetary Policy 2nd (04-02-2023)
Let’s wait for the monetary policy on February 8 — to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
Rating agencies, partner ease Adani’s pain (03-02-2023)
After a tumultuous past few days that almost halved value of the Adani group, embattled tycoon Gautam Adani-led conglomerate had some pressure eased on Friday as two global rating firms stuck with their calls on its credit profile and its French partner backed its investments in the group firms. Also for the first time since January 24, shares of the group’s flagship firm Adani Enterprises ended in positive territory after erasing an intraday loss of 35 per cent. Adani Ports and SEZ also ended 8 per cent higher. This is after a over $100-billion rout in value of group stock since the US short seller Hindenburg Research accused Adani group of stock manipulation and accounting fraud.