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Listen to article(2 minutes)NEW DELHI—Prime Minister Narendra Modi says this is India’s decade. That claim rests heavily on a handful of dominant conglomerates. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Listen to article(2 minutes)NEW DELHI—Prime Minister Narendra Modi says this is India’s decade. That claim rests heavily on a handful of dominant conglomerates. Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8…

The Indian conglomerate was hit hard by a short-seller report earlier this year. The Indian conglomerate was hit hard by a short-seller report earlier this year. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to…

MUMBAI—Billionaire Gautam Adani has become India’s largest airport operator. He runs coal mines and the country’s largest private port. Now he has set his sights on a massive redevelopment of India’s most iconic slum.Dharavi, a slum in the center of Mumbai, gained international fame after being featured in the 2008 Oscar-winning film “Slumdog Millionaire.” It was well known to many Indians long before that, and the city of Mumbai has had plans to replace its shanties with gleaming high-rises…

Struggling Indian infrastructure heavyweight Adani 512599 0.48% Group hasn’t tipped over any other large dominoes yet. But another sprawling Indian conglomerate—miner Vedanta Resources—is looking wobbly. Market skittishness in the wake of the turmoil at Adani Group, which came under attack from short seller Hindenburg Research in late January, means that other indebted Indian companies—which otherwise might have muddled their way…

Shares of the payments company formerly known as Square fell about 15% on Thursday after a short seller questioned the company’s user numbers and accused it of predatory tactics.Hindenburg Research said a two-year investigation into Block Inc. SQ -14.82% found the company “obfuscates” its Cash App service’s true user numbers by reporting misleading metrics “filled with fake and duplicate accounts.” It also accused the company of taking advantage of the demographics it…

One of the large shareholders of Adani Power, the energy firm at the core of Indian billionaire Gautam Adani’s business empire, is an offshore company called Opal Investment Pvt. Ltd.  Adani Power described Opal in its latest quarterly report as an independent shareholder that has no ties to the ports-to-power conglomerate beyond its 4.69% stake in Adani Power. One of the large shareholders of Adani Power, the energy firm at the core of Indian billionaire Gautam Adani’s business…

The net worth of Indian billionaire Gautam Adani has fallen by around $58 billion over the past week and a half, the result of a rout in stock prices linked to his namesake conglomerate following the publication of a report by a U.S. short seller. The combined market value of shares owned by India’s Adani Group has halved since New York-based Hindenburg Research published a report on Jan. 24 that alleged fraud and stock-market manipulation at the business,…

Shares of companies linked to Indian billionaire Gautam Adani continued to slide on Thursday, after his namesake conglomerate canceled a planned share sale that was meant to raise more than $2 billion. Adani Enterprises Ltd. 512599 -26.50% , the group’s flagship business that scrapped its follow-on public offering after a plunge in its shares the previous day, fell another 26% on Thursday. The shares have…

The flagship company of India’s Adani Group collected enough investor bids Tuesday to pull off a large stock sale, advancing its fundraising plans in the face of fraud allegations from a U.S. short seller.  By Tuesday afternoon in India, a public share offering by Adani Enterprises Ltd. was slightly oversubscribed—indicating that the Mumbai-listed company would be able to complete the deal, which aimed to raise up to $2.5 billion.   The share…

Shares of several companies linked to India’s richest man, Gautam Adani, fell sharply Friday, losing tens of billions of dollars in market value after a U.S. short seller’s allegations of fraud at his sprawling conglomerate continued to unnerve investors. Five of the seven listed Adani Group 512599 -18.52% companies ended the day 16% to 20% lower, and the other two fell by the maximum 5% permitted by…