BusinessSindujaa D Neditor@indiaherald.comhttps://www.indiaherald.com/ImageStore/images/business/technology_videos/adani-enterprises-is-on-its-fpo-block778ed365-e9b8-4086-8183-b064b61daf08-415x250-IndiaHerald.jpghttps://www.indiaherald.com/ImageStore/images/business/technology_videos/adani-enterprises-is-on-its-fpo-block778ed365-e9b8-4086-8183-b064b61daf08-415x250-IndiaHerald.jpgGautam Adani is the third richest person in the world till date. But the Hindenburg report.. and then with the Wikipedia information, his wealth melted away. He dropped down to 25th place. Hindenburg alleged that the Adani Group was involved in the biggest scam in corporate history through manipulation of share prices, manipulation of books of accounts and other manipulations. Due to this, the market value of Adani Group has fallen drastically. The opposition is demanding an inquiry into the conGautam Adani{#}Gautam Adani;Corporate;Parliament;Prime Minister;CongressAdani Enterprises is on its FPO block!!Adani Enterprises is on its FPO block!!Gautam Adani{#}Gautam Adani;Corporate;Parliament;Prime Minister;CongressThu, 23 Feb 2023 22:39:38 GMTGautam adani is the third richest person in the world till date. But the Hindenburg report.. and then with the Wikipedia information, his wealth melted away. He dropped down to 25th place. Hindenburg alleged that the adani Group was involved in the biggest scam in corporate history through manipulation of share prices, manipulation of books of accounts and other manipulations. Due to this, the market value of adani Group has fallen drastically. The opposition is demanding an inquiry into the controversy.

A report by the US-based Hindenburg company has revealed that adani companies have committed financial frauds of Rupees.10 lakh crores. The opposition parties have been agitating for a discussion on this since the beginning of the parliament session. adani is insisting that Modi is bhai bhai to respond on this matter. In this context, prime minister Modi recently said that the governments collapsed during the congress regime. He criticized that the corruption done by the congress from 2004 to 2014 was not so much.

Adani Group's total market cap fell from Rupees 19.40 lakh crore to Rupees 15.30 lakh crore. Now it has fallen further. The cut in percentage terms is 25 percent. adani Group has 9 listed companies including ACC and Ambuja Cements. The average fall in each of these stocks is 20 percent. There are four companies in the F&O division. Six companies fell more than 20 percent; Both companies have only 5 percent of the circuit.

Adani Enterprises is on its FPO block. The market cap of this company has lost around Rs.64000 crores. adani Total M-Cap at Rs. More than 1 lakh crore was lost. adani Group prefers to raise investments through debt rather than equity. The Hindenburg firm alleged that the adani group raised funds through shell companies set up by its friends abroad that harbored tax evaders. Criticism is coming for not complying with the rule of allocating 25 percent shares to public and not to public sector organizations. 




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Source: India Herald - Sindujaa D N]]>