TinTinSnowy
Herald
Adani group, an Evil corp?
- Thread starter Pyception
- Start date
from my post on 24-Feb-23 and 3-Mar-23 on this same thread:
techenclave.com
"Stock market is for investing, not a ponsi scheme even if Bernie Madoff ran one sitting as Chairman of NASDAQ stock exchange. Ton of prospective retiree's pensions, normal people's investments are tied to stock market. So, let there at least be an impetus to be on ethical side please."
So, looks like, it is working as expected:
...The fall was mainly on the back of reports that the subscribers to government-run pension funds are also facing losses due to the fund managers’ exposure to two Adani stocks — Adani Enterprises and Adani Ports & SEZ.
Employees’ Provident Fund Organisation (EPFO), the body that oversees pension fund management on behalf of the government, is the third public entity to be pulled into controversy for its exposure to the Adani Group. Life insurance major LIC and banking giant SBI are the other two...
Also, ambiguity about repayment of loans:
economictimes.indiatimes.com
..."The pledged shares of Adani Green and Adani Transmission have not been released by banks even a month after the loan repayment. This is highly unusual as pledged shares are usually released immediately after the borrower settles their debts"...
Edit after seeing latest update:
Adani CFO slams 'misleading' reports on debt repayment
https://economictimes.indiatimes.co...romoter-pledge-share/articleshow/99067680.cms
Adani group, an Evil corp?
Where do you invest? Investing in international equities have become difficult for Indians residing in India with 20% TCS on LRS and complicated compliance. There are some options though with FoF of Nasdaq and other US indices through Navi. There is also a mutual fund from PPFAS with some...
techenclave.com
"Stock market is for investing, not a ponsi scheme even if Bernie Madoff ran one sitting as Chairman of NASDAQ stock exchange. Ton of prospective retiree's pensions, normal people's investments are tied to stock market. So, let there at least be an impetus to be on ethical side please."
So, looks like, it is working as expected:
...The fall was mainly on the back of reports that the subscribers to government-run pension funds are also facing losses due to the fund managers’ exposure to two Adani stocks — Adani Enterprises and Adani Ports & SEZ.
Employees’ Provident Fund Organisation (EPFO), the body that oversees pension fund management on behalf of the government, is the third public entity to be pulled into controversy for its exposure to the Adani Group. Life insurance major LIC and banking giant SBI are the other two...
Also, ambiguity about repayment of loans:
Adani stocks lose up to 8%; all 10 counters in red. Here's why
Following the release of a damaging report by Hindenburg Research in late January, Adani stocks went into a tailspin and ended up losing around $100 billion in market capitalisation in the next few weeks. However, after the embattled billionaire conducted roadshows to convince investors, prepaid...
..."The pledged shares of Adani Green and Adani Transmission have not been released by banks even a month after the loan repayment. This is highly unusual as pledged shares are usually released immediately after the borrower settles their debts"...
Edit after seeing latest update:
Adani CFO slams 'misleading' reports on debt repayment
https://economictimes.indiatimes.co...romoter-pledge-share/articleshow/99067680.cms
Last edited:
alekhkhanna
Innovator
from my post on 24-Feb-23 and 3-Mar-23 on this same thread:
Adani group, an Evil corp?
Where do you invest? Investing in international equities have become difficult for Indians residing in India with 20% TCS on LRS and complicated compliance. There are some options though with FoF of Nasdaq and other US indices through Navi. There is also a mutual fund from PPFAS with some...
"Stock market is for investing, not a ponsi scheme even if Bernie Madoff ran one sitting as Chairman of NASDAQ stock exchange. Ton of prospective retiree's pensions, normal people's investments are tied to stock market. So, let there at least be an impetus to be on ethical side please."
So, looks like, it is working as expected:
...The fall was mainly on the back of reports that the subscribers to government-run pension funds are also facing losses due to the fund managers’ exposure to two Adani stocks — Adani Enterprises and Adani Ports & SEZ.
Employees’ Provident Fund Organisation (EPFO), the body that oversees pension fund management on behalf of the government, is the third public entity to be pulled into controversy for its exposure to the Adani Group. Life insurance major LIC and banking giant SBI are the other two...
Also, ambiguity about repayment of loans:
Adani stocks lose up to 8%; all 10 counters in red. Here's why
Following the release of a damaging report by Hindenburg Research in late January, Adani stocks went into a tailspin and ended up losing around $100 billion in market capitalisation in the next few weeks. However, after the embattled billionaire conducted roadshows to convince investors, prepaid...
..."The pledged shares of Adani Green and Adani Transmission have not been released by banks even a month after the loan repayment. This is highly unusual as pledged shares are usually released immediately after the borrower settles their debts"...
Imagine if Byjus was listed !
@alekhkhanna
Adani being a big conglomerate with their fingers deep into national infra, banks, insurance /investment sector and whatnot, may have more impact ? Not sure.
Adani being a big conglomerate with their fingers deep into national infra, banks, insurance /investment sector and whatnot, may have more impact ? Not sure.
blr_p
Oracle
R-ADAG shares are of very low value, hence the consequences are priced in ?
Update:
Adani CFO slams 'misleading' reports on debt repayment
economictimes.indiatimes.com
Update:
Adani CFO slams 'misleading' reports on debt repayment
Adani CFO slams 'misleading' reports on debt repayment
The 10 listed Adani group companies had lost about $135 billion in market value after the report. The stocks recovered some lost ground after the conglomerate inked a deal with US-based GQG partners, which invested $1.87 billion in four group companies.
alekhkhanna
Innovator
R-ADAG shares are of very low value, hence the consequences are priced in ?
Update:
Adani CFO slams 'misleading' reports on debt repayment
Adani CFO slams 'misleading' reports on debt repayment
The 10 listed Adani group companies had lost about $135 billion in market value after the report. The stocks recovered some lost ground after the conglomerate inked a deal with US-based GQG partners, which invested $1.87 billion in four group companies.
NSE has also sought clarification
NSE seeks clarification from Adani Enterprises on status of pledge shares
This is with reference to a report, which raised questions about whether the empire has actually repaid debts worth $2.15 billion
www.livemint.com
Smokes and mirrors.
The Ken report was based on gaps in adani declarations to stock exchange as per indian law on pledge shares. Basically the data that nse already had. And nse waited till the report to seek clarification.NSE has also sought clarification
NSE seeks clarification from Adani Enterprises on status of pledge shares
This is with reference to a report, which raised questions about whether the empire has actually repaid debts worth $2.15 billion
Smokes and mirrors.
alekhkhanna
Innovator
Sobirvs
Herald
Kaleen Bhaiya
Innovator
Financial Times refuses to take down report on Adani Group’s offshore funding
On Monday, the Adani group wrote a strongly worded letter to the editor of the publication asking it to take down the story as it created a “misleading narrative, misunderstanding in the markets, created a reputational impact on the Adani Group companies".
blr_p
Oracle
Funny how these reports have to appear in foreign media as if such expertise isn't available in India. The impression created is India and its institutions are incapable of doing their own housekeeping.
When the Chinese can plant favourable articles in the FT whenever they want I don't see such a report as worth anything and deserves to be called out. Once things stabilise I expect Adani to hit back with defamation suits against these outfits.
How sad there was nobody to call out Silicon Valley Bank & Credit Suisse. Could have saved people's money there.
More cherry-picking to cast aspersions. I'm confident Adani will still get through this nonsense and emerge stronger than ever.
Why is the opposition getting involved here? Pawar has already called out the lack of wisdom for Congrerss to do this against Adani.
Because the opposition treats Adani & Ambani (farmer protests) as a proxy for the govt
When the Chinese can plant favourable articles in the FT whenever they want I don't see such a report as worth anything and deserves to be called out. Once things stabilise I expect Adani to hit back with defamation suits against these outfits.
How sad there was nobody to call out Silicon Valley Bank & Credit Suisse. Could have saved people's money there.
More cherry-picking to cast aspersions. I'm confident Adani will still get through this nonsense and emerge stronger than ever.
Why is the opposition getting involved here? Pawar has already called out the lack of wisdom for Congrerss to do this against Adani.
Because the opposition treats Adani & Ambani (farmer protests) as a proxy for the govt
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Mr.J
Innovator
They are trying really hard to cover up their fake FDI inflows.Financial Times refuses to take down report on Adani Group’s offshore funding
On Monday, the Adani group wrote a strongly worded letter to the editor of the publication asking it to take down the story as it created a “misleading narrative, misunderstanding in the markets, created a reputational impact on the Adani Group companies".www.google.com
SEBI Has No Information on Who Subscribed to Adani Group’s Rs 20,000-Crore Share Sale: Report
The capital markets regulator said this in response to an application filed under the RTI Act, which sought subscription details and the reason for the cancellation of the follow-on pubic offer.
thewire.in
blr_p
Oracle
The linked article
www.business-standard.com
The reasons for denying the two RTI applications were
In other words, the info required is not kept as it isn't necessary. The FPO was withdrawn so why ask who subscribed? Nobody lost anything.
This is how thin this Hindenberg hit job really is.
Adani's Rs 20,000-cr FPO subscriber info not available: Sebi to RTI query
"The respondent, in response to the aforesaid queries, informed that the information sought is not available with Sebi," noted the Appellate Authority under the RTI Act
The reasons for denying the two RTI applications were
In other words, the info required is not kept as it isn't necessary. The FPO was withdrawn so why ask who subscribed? Nobody lost anything.
This second one is more intriguing. They don't provide info that can be used to cast aspersions for no good reason.
This is how thin this Hindenberg hit job really is.
Hindenburg Research Shorts Billionaire Carl Icahn After Adani And Jack Dorsey’s Block
Similar story. Overvalued stocks pledged for loans.
Similar story. Overvalued stocks pledged for loans.
Mr.J
Innovator
Nah. This is a conspiracy against USA.
blr_p
Oracle
For the unversed, Icahn Enterprises is reportedly considered to be one of the most successful activist investment firms.Nah. This is a conspiracy against USA.
Activists going after other activists. They've gone cannibal now.
No US strategic interest was affected here. Try again
If the Chinese have a hand here as I suspect it will only be a matter of time. Then the sparks will fly
Ban on short selling? US regulators raise alarm amid banking crisis
US federal and state officials have begun to investigate the possibility of market manipulation amid the ongoing banking crisis.
www.livemint.com
Unrelated, but watched the documentary on Netflix about the Wirecard scandal and its revelation by FT, the playbook is quite similar. Their primary business was money laundering which was used to artifically boost the stock prices while threatening anyone and everyone who tried to reveal anything about the corrupt business practices.