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.
Fund Manager Talk: Trump presidency not a big threat to IT but can affect FII flow: Krishnan VR
In the coming weeks, investors face a busy period with the Q3 earnings season, Trump’s swearing-in, the Fed meeting, and the Union Budget. The strategy
January 19, 2025