BENGALURU (Reuters) – GAIL (India) Ltd, the country’s largest gas distributor, reported an almost 93% slump in quarterly profit on Monday, hit by lower gas sales due to supply disruptions. The state-owned gas company’s standalone profit tumbled to 2.46 billion rupees ($30.14 million) in the quarter ending Dec. 31, from 32.88 billion rupees a year …
By Sarita Chaganti Singh NEW DELHI (Reuters) – India plans to evoke an emergency law next month which would force power plants running on imported coal to generate power, two government sources told Reuters on Monday, as it expects power demand to surge to record levels this summer. Power ministry officials will work with those …
By Nikunj Ohri NEW DELHI (Reuters) – India’s Life Insurance Corporation (LIC) on Monday said it will talk to management of Adani Group within days after U.S. short-seller Hindenburg Research accused the conglomerate of high debt levels and the use of tax havens. “Presently there is a situation that’s emerging and we are not sure …
Exclusive: India’s LIC says it will talk to Adani over short seller allegation Read More »
BENGALURU (Reuters) -Indian shares fell in a volatile session on Monday, mirroring the financials ahead of the Union budget as Adani Group extended a decline after a short-seller attack on group companies triggered a sell-off over the previous two sessions. The Nifty 50 index was down 0.98% at 17,432.45 as of 1:58 p.m. IST, while …
Indian shares slip, tracking financials as Adani stocks extend slide Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee, unlike its Asian peers, declined against the U.S. currency on Monday on dollar demand from foreign banks and importers, according to traders. The rupee was trading at 81.6650 at 10:40 a.m. IST, down from 81.5225 in the previous session. Other Asian currencies advanced, led by the …
Importers, custodial banks pull rupee down; Asian peers inch up Read More »
By Krishna N. Das NEW DELHI (Reuters) – India’s Adani Group has said a U.S. short-seller’s report on the business house was a “calculated attack” on the country and its institutions while a senior executive has compared a rout of its stocks with a colonial-era massacre. Adani’s seven listed companies have lost about $65 billion …
India’s Adani Group CFO says stocks rout similar to colonial-era massacre Read More »
BENGALURU (Reuters) – Indian warehouse and parks developer IndoSpace on Monday said the Canada Pension Plan Investment Board (CPP Investments) will invest $205 million in the company’s new real estate fund. The investment from Canada’s biggest pension fund is part of IndoSpace’s new fund targeting $600 million in equity commitments. CPPI’s latest investment in the …
Canada’s CPPI invests $205 million in Indian co IndoSpace’s new fund Read More »
By Shivam Patel, Aditi Shah and Aditya Kalra NEW DELHI (Reuters) -India’s Gautam Adani, the school drop-out turned billionaire who rose to become Asia’s richest man, faces possibly his biggest challenge after shares in his companies slumped when a U.S. short seller cast doubts on their business practices. Adani, from Gujarat in western India, built …
India’s Gautam Adani: Asia’s richest man in eye of a storm Read More »
By Sriram Mani and Jayshree P Upadhyay MUMBAI (Reuters) -A $2.5 billion share sale by India’s Adani Enterprises remains on schedule at the planned issue price, the company told Reuters on Saturday, while sources said bankers were considering changes due to a market rout in the group’s shares. Bankers on the deal were considering extending …
(Reuters) – Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate – controlled by one of the world’s richest men Gautam Adani – have lost a combined $48 billion in …
MSCI seeks feedback on Adani Group over Hindenburg report Read More »
