EMRG

Adani’s market losses top $100 billion as shelved share sale spooks investors

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Market route deepens in Indian tycoon Adani’s shares Adani Enterprises loses $26 bln in value since report Falls after Adani pulled share sale, investors spooked Analysts say signals confidence crisis in the Indian market NEW DELHI/MUMBAI, Feb 2 (Reuters) – Adani Group’s market losses swelled to more than $100 billion on Thursday, sparking worries about …

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Rupee likely to open higher after Fed, local equities in focus

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MUMBAI, Feb 2 (Reuters) – The Indian rupee is expected to open stronger on Thursday, as markets perceive the US Federal Reserve to be a bit dovish, with investors keeping an eye on domestic equities after late developments in the Adani saga. The rupee was seen around 81.70 per US dollar in early trades, compared …

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Hindenburg bet against India’s Adani puzzles rival US short sellers

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Feb 1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners to bet against companies there. Hindenburg’s house has been lucrative so far. Its allegations, which the …

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Exclusive: Indian market regulator examining Adani share route, source says

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MUMBAI, Feb 1 (Reuters) – India’s market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday. The Securities and Exchange Board of India’s (SEBI) examination comes on …

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Adani abandons $2.5 billion share sale in big blow to Indian tycoon

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NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller’s criticism wiped billions more off the value of the Indian tycoon’s stocks. The withdrawal of the Adani Enterprises (ADEL.NS) share offering marks a stunning …

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Adani loses Asia’s richest crown as stock route deepens to $84 billion

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BENGALURU, Feb 1 (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as a route in his companies deepened to $84 billion in the wake of a US short-seller report, with the billionaire also losing his title as Asia’s richest person. Wednesday’s stock losses saw Adani slip to 15th on Forbes …

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US, India partnership targets arms and AI to compete with China

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WASHINGTON, Jan 31 (Reuters) – The White House is launching a partnership with India on Tuesday that President Joe Biden hopes will help the countries compete against China on military equipment, semiconductors and artificial intelligence (AI). Washington wants to deploy more Western mobile phone networks in the subcontinent to counter China’s Huawei Technologies Co Ltd …

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US readies $2 bln-plus Ukraine aid package with longer-range weapons -sources

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WASHINGTON, Jan 31 (Reuters) – The United States is readying more than $2 billion worth of military aid for Ukraine that is expected to include longer-range rockets for the first time as well as other munitions and weapons, two US officials briefed on the matter told Reuters on Tuesday. The weapons aid is expected to …

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Adani’s crucial share sale 85% subscribed as institutions pump in funds

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MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummeled by a scathing short-seller report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was subscribed 85% …

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