Adani companies on a stronger footing: Bernstein
The brokerage referred to a lower quantum of pledged shares, stronger debt coverage ability, and better relative valuations for some of the companies to justify its current assessment of the group, after billionaire founder Gautam Adani and his nephew Sagar Adani were indicted late November on alleged impropriety charges by the US Department of Justice.
Sebi cancels Trafiksol IPO, orders refund of investor money
The company may approach the market afresh after the ongoing proceedings initiated by Sebi are concluded and subject to any directions issued, the regulator said in an order on Tuesday.