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Tuesday Feb 07, 2023

Adani Ambani Lost Net Worth | Lakshmi got angry on Indian rich and kind to America, Adani-Ambani got a blow of so many billions


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Delhi: The last few days have been volatile for the Indian Stock Market. Hindenburg Research (Hindenburg report) an American company published a report accusing Adani Group, one of the most prestigious conglomerates of India, of manipulation and fraud. Not only Gautam Adani and Adani Group suffered a setback, but the investors of the stock market had to bear the brunt of it. During this the billionaires of India paid a heavy price. Earlier this year, Lakshmi, the goddess of wealth, appeared to be a bit pissed off at India’s rich. In terms of wealth loss, where Indians still dominate the top-3 rich, Lakshmi seems kind to the American rich.

8 in top-15 richest people from America

This year, 8 of the top-15 richest people in terms of earnings are from America. According to the Bloomberg Billionaires Index, Adani Group Chairman Gautam Adani tops the list in terms of loss of wealth this year. Last year, Adani had secured the top position with strong earnings, but this year the picture is different at the beginning of the year. Adani has lost a total of $ 64.2 billion so far. At number two is Mukesh Ambani, chairman of Reliance Industries, whose net worth declined by $ 7.85 billion. Also, DMart’s Radhakrishna Damani is third in the list of top losers with a total loss of $2.93 billion. Indian billionaires have lost $ 77 billion in the top-15 people who have lost the most wealth so far. Out of this, apart from Adani, Ambani and Damani, Savitri Jindal suffered a loss of $1.08 billion. Ravi Jaipuria has lost $752 million, Kumar Birla $729 million and Ashwini Dani $642 million. Also, Mahendra Choksi has incurred a loss of $591 million so far.

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The silver of American billionaires is silver

On the other hand, America’s 8 richest people in the top-15 have added about $ 137 billion to their net worth so far. Elon Musk has benefited from this and the Tesla founder is currently the second richest person in the world with $178 billion. Musk’s net worth has so far risen to $40.5 billion despite record losses last year. Apart from Musk, Facebook founder Mark Zuckerberg is third in the list of top earners, with a net worth of $23.3 billion. Apart from this, Goddess Lakshmi also blessed Jeff Bezos this year. Jeff, the former founder and chairman of Amazon, has a net worth of $19.2 billion. Additionally, Larry Page’s net worth increased by $12.7 billion this year, while Sergey Brin’s net worth increased by $12.1 billion. Larry Ellison’s net worth increased by $10.8 billion, while Abigail Johnson’s net worth increased by $6.91 billion. Bill Gates’ wealth has also increased by $ 6.57 billion so far this year.



Adani Group Stocks | Adani Group’s shares again gained momentum, the price climbed up to this much percent


Adani

Photo – Adani Group LTD

New Delhi: Shares of most of the Adani group companies climbed in the morning trade on Tuesday. The scrip of group flagship Adani Enterprises touched its upper circuit limit with a gain of 15 per cent. Shares of eight Adani group companies were in the green, while two were in the red in early trade. Shares of Adani Enterprises surged 15 per cent to hit its upper limit of Rs 1,808.25 on the BSE. The market capitalization of the company has reached Rs 2.06 lakh crore.

Adani Ports and Space Economic Zone gained 8.96 per cent to Rs 595. The market valuation of the company stood at Rs 1.28 lakh crore. Adani Wilmar was up five per cent at Rs 399.40, Adani Transmission up five per cent at Rs 1,324.45, Adani Green Energy up 2.10 per cent at Rs 906.15 in early trade. Shares of two of the 10 listed companies of the group were in the red.

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Adani Total Gas fell 5 per cent to its lower circuit ie Rs 1,467.50. Adani Power was at Rs 173.35, with a loss of 4.99 per cent. Shares of ACC rose 2.17 per cent to Rs 2,012.55 and Ambuja Cements gained 3 per cent to Rs 391.15. NDTV was trading at Rs 225.35, up five per cent.

The Adani Group on Monday said its promoters will prematurely redeem pledged shares of their companies by paying $1114 million. The Gautam Adani-led group was accused of fraudulent transactions and manipulation of share prices in a report by US-based short seller Hindenburg Research. Since then, the process of decline in the shares of group companies had started. However, today investors got some relief. (agency)



Astrology | Crisis on Gautam Adani: Effect of Sade Sati! Know when the situation will improve


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Mumbai: Adani Group seems to be in trouble after the report of American short seller firm Hindenburg. Astrologically, Gautam Adani, the promoter of Adani Group, has started a difficult time from January 18, 2024, due to the change in the zodiac sign of Shani Dev. Because of this, this crisis has arisen in front of them.

Aryan Prem Rana, astrologer and founder of ‘Wrightpath’, says that Gautam Adani’s horoscope is of Aquarius and Taurus ascendant. Born on 24 June 1962, Adani’s Sade Sati started from 26 January 2020. The first phase of which lasted till January 17, 23. Due to the transit of Shani in Bhagya Bhav in the first phase, he reached the second number in the list of the richest people in the world, but the second phase of Sade Sati started from January 18, 2023. And from this day Adani’s fortune suddenly weakened and the enemies got a chance to dominate. Dhanesh Budh is also transiting in his enemy sign Sagittarius from 18th January 2023, which is causing sudden loss or calamity in the eighth house of Adani’s horoscope and he has to face huge losses in the stock market. Due to the stay of Mercury, the factor of business and banking, in the enemy sign till February 6, there was a recession in the stock market during this period. However, now after entering friendly zodiac from February 7, the market condition will also show improvement.

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Situation will start improving from February 7

Rana said that Lagnesh Venus is in Parakram Bhav, Bhagyesh Shani, who is in Bhagya (Virtue) Bhav and in its own sign Capricorn only. There is Gajakesari Yoga of Parakramesh Moon with Jupiter in the 10th house of the Kundli, which despite Adani being born in an ordinary family, since the mahadasha of Lagnesh Venus (Diamond-Jewelry, the planet of wealth) started from January 2015 He has become one of the biggest industrialists of the world. The mahadasha of ascendant lord Venus will remain till December 2034, but ups and downs are bound to come in life and every human being has to pass through the difficult test of Saturn or nature. Adani’s stars are also doing the same work of nature. Now on February 7, Mercury will transit in Capricorn, after that the decay of their wealth may stop and after June 6, 2023 there is a possibility of positivity in the situation. In January 2025, he will again be seen overpowering his enemies.



Adani Trouble | Not only Indians, foreigners are also trapped, Adani Group has invested money of the world’s rich


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Delhi: The troubles of Gautam Adani and Adani Group are not taking the name of abatement. Adani Group became the country’s largest industrial house in terms of market cap in the stock market, while in just two years, Group Chairman Gautam Adani became the richest person in Asia including India. Adani’s shares were booming and many billionaires around the world washed their hands in the flowing Ganga. But on January 24, a report by American short selling firm Hindenburg Research changed the picture and shook Adani’s empire. The group’s shares have fallen by nearly 60 per cent in the last seven days, Adani Group’s market cap has also declined by over $100 billion. Meanwhile, note that the Adani group also has investments in several foreign companies, including two of the world’s richest families. The good thing is that they are standing by Adani Group during this crisis, but as Adani’s crisis escalates, it will affect global investors as well. Many rich of the world have invested in Adani Group, but now their investment is at risk.

Investors include Malaysia’s richest man and two of the world’s richest families

According to the report, investors in the Adani group include Malaysia’s richest man, a shipping tycoon and two of the world’s richest families. From data center servicing, packaged food to port management, these people have partnered with Adani Group. And on the strength of these partnerships, Adani Group has expanded its business in many areas in recent times. Robert Kuok, Malaysia’s richest man, is one of Adani’s oldest partners and his company Wilmar International owns half of Adani Wilmar. The company, which manufactures oil, sugar and other products under the Fortune brand, has a market value of $6.7 billion. In this company, Wilmar provides food expertise while Adani Group handles the logistics part. But after the Hindenburg report, Wilmar this week insisted that Adani would continue to support the group.

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Who invests in Adani Group?

Retail giant Walmart also has investments in Adani group companies. Walmart is owned by the Walton family, the second richest people in the world. Walmart had bought the Indian e-commerce company Flipkart a few years ago. Later in 2021, Flipkart tied up with Adani Logistics to strengthen its infrastructure. Adani Group is building a data center in Mumbai and plans to lease a part of it to Flipkart. Adani Group had said that this partnership will provide employment to 2500 people. Also EdgeConneX, a Virginia-based data center services company, formed a joint venture with the Adani Group to build 1 GW of data center capacity in India. Meanwhile, the amount to be invested in this has not been disclosed.

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Bought Haifa, Israel’s second largest port

Similarly, CMA CGM, the world’s third largest container shipping company, signed an agreement with Adani Group in 2017 to operate a terminal at Mundra port for 15 years. The majority stake in CMA CGM is held by Rodolphe Sade of France and his family. Adani had recently bought Haifa, Israel’s second largest port, when the Hindenburg report came out. Israel’s Gadot Group is its partner in this. Similarly, International Holding Company of Abu Dhabi has invested two billion dollars in companies of Adani Group. IHC is majority-owned by the Royal Group, which is owned by Sheikh Tahnoon, the UAE’s National Security Advisor and part of the world’s richest family.



Adani Crisis | Committed to market stability, monitoring mechanism in place to deal with volatility: SEBI


Lockdown increases retail investors' participation in stock markets: SEBI

New Delhi. Sebi on Saturday said it is committed to ensuring fairness, efficiency and maintaining sound fundamentals of the stock market, besides ensuring all necessary monitoring amid growing controversy over fall in shares of Adani Group. The market regulator said measures are being taken to deal with excessive volatility in specific stocks.

Sebi said in a statement without naming the Adani group that the shares of a business group have seen abnormal volatility in the last week. Officials confirmed that the statement was issued in the wake of the Adani case. Shares of Adani’s companies fell sharply after US-based ‘short seller’ Hindenburg Research accused the Gautam Adani-led group of fraudulent transactions and rigging of share prices.

Adani Group has denied these allegations as false and said that it has complied with all laws and regulatory disclosures. However, despite this, the market capitalization of 10 listed companies of Adani Group has declined by a total of Rs 8.5 lakh crore. The decline occurred in six trading sessions. Adani Enterprises also called off its Rs 20,000 crore follow-on public offering (FPO).

The Securities and Exchange Board of India (SEBI) said in the statement, “SEBI as part of its responsibility seeks to maintain the orderly and efficient functioning of the market. Well-defined, publicly available monitoring measures (including the ASM framework) are in place to deal with extreme volatility in a particular stock.”

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According to the statement, “This system gets activated automatically under certain conditions when there is a fluctuation in the prices of any stock.” Stock exchanges – BSE and NSE have placed three Adani Group companies – Adani Enterprises, Adani Ports and Special Economic Zone and Ambuja Cements – under their short-term Additional Monitoring Measures (ASM).

This means that 100 per cent upfront margin will be applicable for ‘intra-day trading’ to prevent speculation and ‘short-selling’ in these shares. SEBI said that after all specific cases are brought to its notice, the regulator examines them as per the extant policies and takes appropriate action.

Several opposition leaders and some experts have questioned SEBI for not acting on the Adani issue. The proceedings of the Parliament were also disrupted for two days on this issue. Some politicians have also written letters to SEBI and the government to investigate the matter. The opposition parties are also demanding an inquiry by the Joint Parliamentary Committee. The regulator, however, did not clearly state whether it was conducting any probe in the matter. (agency)



Adani Power in Trouble | Gautam Adani’s problems are not reducing, now this country has given a big blow


Adani Power

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Delhi: A report by Hindenburg Research has put Adani Group in trouble. Shares of companies have fallen by more than 60 percent. The loss has crossed 10 lakh crores. Adani, who reached the second position in the list of world’s richest businessmen, is no longer even in the top 20. Adani has lost as much wealth in five days as he had earned in the last one year. Now Bangladesh has given a blow to Adani. Now the rest of the country is on alert after the Adani group is in trouble. Bangladesh is also included in this. Bangladesh signed a power purchase agreement with Adani Power Ltd in 2017. Bangladesh has demanded amendment in it. The electricity rates fixed by Adani Group are high. The Bangladesh government has demanded that they should be reduced.

What are the deals between Adani Power and Bangladesh

Adani Power Limited is setting up a power plant in Godda district of Jharkhand. The capacity of this center is 1600 MW. Electricity will be sent to Bangladesh from this center. Bangladesh currently imports 1160 MW of electricity from India. As per the 2017 agreement, 1,600 MW of power generated from the Godda station would be sent to Bangladesh. An agreement has been signed between Adani Group and Bangladesh for 25 years. Bangladesh will get power from Godda from March this year. Bangladesh Power Development Board (BPDB) has sent a letter to Adani Group for changes in the power purchase agreement. Board officials have said that the rates of coal required for the project should be reconsidered. Adani Group has sent a letter to BPDB for coal import. Demand note from BPDB is required to receive letter from Government of India. BPDB officials say that the cost of coal that Adani Power will buy to buy power generation will ultimately fall on Bangladesh.

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What is the demand of Bangladesh?

Adani Group has sent a demand note to Bangladesh. In this, the price of coal has been mentioned as $ 400 (Rs 32,897) per metric ton. BPDB officials have said that this rate is very high. Officials said the price should be $250 (Rs 20,561). The letter mentions that we are calculating the same rate for other power stations as well.



Anand Mahindra Support Adani | Anand Mahindra supports Gautam Adani, warns global media, says not to challenge India


File Photo

File Photo

Delhi: After the report of short-seller Hindenburg Research (Hindenburg Research on Adani Group) came out, the shares of India’s billionaire industrialist Gautam Adani’s companies have suffered a huge economic blow. Short-seller Hindenburg Research has made serious allegations against Adani Group citing stock manipulation and accounting fraud in a report. That’s why Adani Group is discussed in many parts of the world media since the report came out. Mahindra Group Chairman Anand Mahindra has come forward to help Adani Group. Anand Mahindra, who is very active on social media, always shares success stories. However today he has come out in clear words in front of the world media to help the Adani group. Of course many people have reacted to his tweet.

Don’t bet against India – Anand Mahindra

Anand Mahindra said in his tweet that the global media is speculating whether the current challenges in the industrial sector will derail India’s ambitions of becoming an economic superpower. I have been watching for a long time that India is facing earthquakes, droughts, recessions, wars, terrorist attacks. He said that all I would say is never bet against India. Meanwhile, sensational allegations from Hindenburg Research sent bonds and shares lower in the group’s companies. Hindenburg Research has alleged stock manipulation and fraud. Hindenburg Research has been doing research on Adani Group for the last two years. Since the release of the Hindenburg report, the market share of Adani group companies has declined by Rs 1 lakh crore. On the second day too, the market lost Rs 4 lakh crore in two days due to fall in stocks.

Questions have been raised in Parliament on the Adani issue

Ten companies, including Adani Enterprises, the flagship company of Adani Group, have lost more than $110 billion. Credit Suisse and Citigroup have refused to lend on Adani’s bonds. Due to the fall in the stock market, Gautam Adani has also been out of the list of top-20 billionaires. Mukesh Ambani’s entry has been made in the top-10 list. Meanwhile, various opposition parties of the country have raised questions in the Parliament on the Adani issue. Opposition parties have demanded a joint parliamentary committee inquiry or a probe by a Supreme Court-monitored committee.



Supreme Court Plea | PIL filed in Supreme Court on Hindenburg who shook Adani Group, know what is the demand


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file photo

Mumbai: A storm named Hindenburg comes from America and the entire empire of Gautam Adani in India gets shaken. From the Parliament to the stock market, only Adani is being discussed. 10 days ago Gautam Adani was the fourth richest person in the world. Now it has come at number 21. In all these developments, this matter has reached the Supreme Court. A public interest litigation has been filed in the Supreme Court. In this petition, the investors have been demanded to pay the damages. The issue of the Hindenburg Report has gone to the Supreme Court. The petition calls for action against Nathan Anderson, the owner of the Hindenburg Company. This PIL has been filed by Advocate Manoharlal Sharma.

Demand to register case under 420 and 120

Short seller Anderson and his accomplices defrauded millions of investors. Due to this, investors have suffered huge losses. Compensation has been sought for this loss. According to the petition, a case has been sought to be registered against the short seller Anderson under sections 420 and 120 of the IPC. Anderson has also alleged conspiracy against Indian institutions in the petition. Hindenburg Research has also troubled many companies around the world. This research institute was founded by Nathan Anderson in 2017. It is a financial research firm. Analyses, researches and prepares reports on Equity, Credit and Derivatives. There is also an interesting history behind the naming of this institution. A plane crash happened near Manchester Township in New Jersey, USA.

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There is currently no impact on the rating of securities

In 1937 the Hindenburg airship crashed. The firm is named after him. Nathan Anderson worked as an ambulance driver in Israel. He has a degree in International Business. He started his career with the data company FactSet Research Systems Inc. Shares of Adani Enterprises fell 35 per cent on Friday. Shares of Adani Enterprises which were at Rs 3,442 on January 24 fell to Rs 1,017 on Friday, February 3. But after a good news, the stock again climbed 50 percent to close at 1586. Good news has come for Adani Group from Fitch Ratings. Fitch rating agency says that at present there is no impact on the rating of companies or securities of Adani Group. Fitch Ratings clarified that there will be no major change in the cash flow of Adani Group. After that the trend of shares of Adani Group changed.



Adani Crisis | SBI said- Rs 27,000 crore loan on Adani Group, no challenge


SBI and Adani

Mumbai. The country’s largest bank, State Bank of India (SBI) on Friday said that it has loans of about Rs 27,000 crore to Adani Group companies, which is just 0.88 per cent of the total loans disbursed. Amid the uncertainty arising out of the continuing fall in Adani Group’s shares, SBI Chairman Dinesh Khara said that the bank has not given any loan to the group against shares.

Speaking to reporters on the sidelines of SBI’s quarterly results announcement, Khara said physical assets and adequate cash flow have been kept in mind while lending to Adani group projects.

He said, “The share of this group is 0.88 percent of our total debt. The Bank is not of the view that Adani Group is facing any challenge in meeting its debt obligations.

“We have not given any loan against shares. We do not have any such portfolio. We have not given any guarantee for any financial liability or acquisition. These are all performance-based or financial guarantees. We haven’t done anything that should worry us.”

When asked about the possibility of any change in the mode of transaction with the Adani group in view of the current developments, the SBI chairman said that the bank always insists on adequate equity before releasing the loan amount.

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He said, “Unless equity is visible, money is not released. Not that we are waiting for any equity. In future too, any proposal will be examined on the basis of its merits. Credit committees decide on this.

The SBI chief said the group has not made any request to refinance the loan, amid apprehensions that lenders will be hit by a sharp fall in Adani Group’s shares. Along with this, he said that the record of repaying the outstanding loan of this group has been very good. (agency)



Adani Crisis | Adani crisis: Reserve Bank said, banking sector is strong and stable


Adani crisis: Reserve Bank said, banking sector is strong and stable

Mumbai. Amid concerns over bank loans to the crisis-hit Adani group, the Reserve Bank of India (RBI) on Friday said India’s banking sector is strong and stable. The central bank also said that it is constantly monitoring the lenders.

In a statement, the RBI said it continues to monitor the banking sector, taking note of media reports raising concerns about exposure of Indian banks to a ‘business group’. However, the RBI did not name the Adani group.

The RBI said that as per the current assessment “the banking sector remains resilient and stable. Various parameters related to capital adequacy, asset quality, liquidity, provisioning spread and profitability are in good shape.

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The central bank said, “As a regulator and supervisor, RBI continuously monitors the banking sector and each bank to maintain financial stability. RBI has a Central Repository of Information on Large Loans (CRILC) database system, where banks report their loans of Rs 5 crore and above. This information is used for monitoring.

The statement said the central bank remains vigilant and constantly monitors the stability of the Indian banking sector. The statement further said that the banks are complying with the guidelines on the Large Loan Framework (LEF).



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