Big Movers on D-St: What should investors do with Vedanta, Aegis Logistics and Gland Pharma?
The counter is in a classical uptrend, as it has higher highs & higher lows. On the daily chart, it also saw the breakout of a long consolidation formation with declining volume.The structure of the counter is very bullish, as it trades above all important moving averages. It has broken a neckline at around Rs […]
Adani Group loses 29% market value in 3 days as carnage continues
The massive sell-off in Adani Group stocks continued for the third consecutive session on Monday, wiping out nearly Rs 1.4 lakh crore worth of investors’ wealth. In all, about 29% of the group’s market capitalisation, or about Rs 5.6 lakh crore, has been eroded in the last three trading sessions.
Rising provisions drag PNB’s Q3 net down 44%
With regard to the sale of PNB’s stake in Canara HSBC OBC Life Insurance, Goel said, there has been a change in guidelines from IRDAI and now the banks are allowed to hold the stake as an investment rather than a promoter category.
Not worried about lending, but keeping a close watch: PNB
“Whatever exposure we are having is backed by cash flow. Total exposure include investment of Rs 42 crore and remaining credit,” PNB managing director Atul Kumar Goel said while announcing quarterly numbers.
Adani stocks stay under pressure in choppy market
The Sensex gained 169.51 points, or 0.29%, to close at 59,500.41. The Nifty advanced 44.60 points, or 0.25%, to end at 17,648.95. The Volatility Index, or VIX, rose 2.25% to 17.71, reflecting the uncertainty among traders about the market’s near-term prospects.
Rating companies set to examine debt risks, creditworthiness of Adani companies afresh
Last week, Hindenburg Research had accused the Adani Group of pulling off what it headlined as the “largest con in corporate history,” alleging ‘stock manipulation, accounting fraud, and substantial leverage.’
Adani Group companies’ overseas bonds slip
Adani Ports & Special Economic Zone’s 2027 note dropped 6.2 cents on the dollar in Hong Kong after hitting fresh lows earlier. As many as four different bonds belonging to different companies of the Adani Group, including that of Adani Electricity Mumbai, fell to distressed levels — below 70 cents on the dollar.
Hindenburg says Adani Enterprises’ response ‘largely confirmed’ findings
Hindenburg said Adani’s 413-page response only included about 30 pages on issues related to its January 24 report, in which the firm accused the group of market manipulation and accounting fraud that has caused a plunge in its stock prices.
Adani exposure less than 1% of total AUM, says LIC
LIC’s total holding in Adani Group of companies under equity and debt was Rs 35,917 crore at the end of December, the company said in a note. It said the total purchase value of equity under all Adani Group companies was Rs 30,127 crore and the market value of the same was Rs 56142 crore […]