https://jualslotcaramasakg.wixsite.com/pantrymagic Slot Gacor Gampang Menang Situs Slot Gacor https://gms.dpe.go.th/mobile/public/admin/ckfinder/plugins/fileeditor/situs-judi-slot-terbaik-dan-terpercaya-no-1/ https://geokur-dmp.geo.tu-dresden.de/uploads/user/2022-12-12-182312.459691situs-slot-gacor.html https://geokur-dmp.geo.tu-dresden.de/uploads/user/2022-12-12-183122.222613slot-gacor-gampang-menang.html http://www.digi.vibeunited.co.id/forum/profile/bocoran-slot-gacor-hari-ini/ https://cungtenhanoi.com/2022/12/30/bocoran-pola-jam-hoki-main-slot-gacor-hari-ini-terbaru-gampang-menang-jackpot-terbesar-2022/
Business

Most Adani shares continue losses; founder loses $28 billion a month




Gautam Adani, chairman of Indian conglomerate Adani Group, at the World Congress of Accountants in Mumbai on November 19, 2022. Founder Gautam Adani, the richest man in Asia and once second only to Elon Musk, dropped out of the world’s top five richest to rank seventh on Bloomberg’s billionaire index.

Indranil Mukherjee Afp | Getty Images

Shares in most of the Adani Group companies continued to see heavy losses for a third consecutive trade as the company sought to refute short-selling firm Hindenburg̵[ads1]7;s report, which accused the conglomerate of stock manipulation and an “accounting fraud scheme”.

Adani Enterprises erased earlier gains of up to 10% and last traded flat in Mumbai afternoon trade after the group published a lengthy 400-plus page response to Hindenburg’s report over the weekend, saying it would exercise its rights to “pursue legal remedies” to protect its investors “for all relevant authorities.”

Adani Enterprises’ share price is still more than 25% lower in the month to date, Refinitiv data showed. It continued with a secondary stock sale worth $2.5 billion, which was overshadowed by a rout that wiped out a total of $48 billion by last week’s close.

Founder Gautam Adani, the richest man in Asia and once second only to Elon Musk, dropped out of the world’s top five richest people to seventh place on the Bloomberg Billionaires Index.

His net worth fell by $27.9 billion so far this year, the index showed. It peaked at $150 billion on Sept. 20, 2022, before falling to $92.7 billion at last week’s close, according to the index.

Despite small gains seen in Adani Enterprises, other affiliates of the Adani Group continued to plunge.

“Attack on India”

Adani Group said Hindenburg’s allegations were a “calculated attack on India, the independence, integrity and quality of Indian institutions, and India’s growth history and ambition”, in its response over the weekend.

Group CFO Jugeshinder Singh said in an interview with CNBC-TV18, an affiliate of CNBC, that the value of Adani Enterprises has not changed “just because of” share price volatility, adding that it instead lies in its “ability to incubate new businesses.”

He added that he is confident Adani Enterprises‘ The subsequent public offering will be fully subscribed, calling Hindenburg’s report “merely a lie” and the timing of the report “malicious.”

On Monday morning, Hindenburg described the group’s response as “inflated” and claimed it “ignores all important allegations” against the conglomerate it raised.

“Fraud cannot be masked by nationalism with an inflated response that ignores all the important allegations we raised,” read the short seller’s response to the Adani Group.



Source link

Back to top button