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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The group has made early payments on debt set to mature late next year in an attempt to reduce the number of shares pledged by the promoters.
Editor's note: The Adani group has repaid over Rs 9,400 crore, or $1.11 billion, worth of loans that were borrowed against shares of the conglomerate’s listed entities. The loans were repaid ahead of their maturity of September 2024, according to a company statement. Nearly two weeks have passed since US-based short seller Hindenburg Research released its report against the Adani group. The group’s stocks have since tanked in the local markets, losing more than 47% of their value from $226.7 billion to $120.6 billion. Dollar bonds issued by the group continue to trade at a discount on international exchanges. Promoters of corporations use their shares as collateral in order to borrow money from banks and other lenders. At the Adani group, pledging shares for loans has always been high, but over the last few years they have brought down the share. The Adani group has around Rs 42,900 crore, or $5.2 billion, of pledged stake value, according to JP Morgan. Source: Adani Portfolio January 2023 Global Call Short Seller Response By repaying loans borrowed against pledged shares, a number of shares will …
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Telecom and retail both continue with their ‘hit and miss’, while O2C delivers an unsurprisingly poor performance in Q4. This is a year RIL will be glad to see the back of.
