Adani Enterprises Ltd. and Adani Transmission Ltd., two companies of Gautam Adani’s group, have received approval to raise up to $2.6bn in a Qualified Institutional Placement. The board of the flagship company, Adani Enterprises, approved up to $1.5bn, while Adani Transmission can seek up to $1.1bn via similar means. The shares of Adani Group were hit by allegations of accounting fraud and stock manipulation by US short-seller Hindenburg Research earlier this year. The move to raise funds comes as the group looks to win back investors and continue its comeback strategy.
Dipan Mehta urges caution and focus on fundamentals as uncertainty persists
So, next 80 days we should focus only on the micros and look at companies on a bottom-up basis and then see if there are
April 16, 2025