|Bid||742.85 x 0|
|Ask||743.60 x 0|
|Day's range||742.05 - 750.05|
|52-week range||394.95 - 987.90|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||30.24|
|Earnings date||07 Aug 2023 - 11 Aug 2023|
|Forward dividend & yield||5.00 (0.68%)|
|Ex-dividend date||14 Jul 2022|
|1y target est||N/A|
(Bloomberg) -- Adani Ports & Special Economic Zone Ltd.’s auditor sounded a note of caution over insufficient disclosures around the company’s transactions with certain entities, returning the spotlight to allegations made by short seller Hindenburg Research on Gautam Adani’s empire.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthInside the Making of Redfall, Xbox’s Latest MisfireDebt-Limit Deal Passes the House, Easing US Default ConcernsWall Street Banks Are Us
(Bloomberg) -- Adani Group’s port unit became the first of its 10 entities to recoup all losses triggered by Hindenburg Research’s bombshell report in late January, as a recent rally in the conglomerate’s stocks gathered steam on Tuesday.Most Read from BloombergChina’s $23 Trillion Local Debt Mess Is About to Get WorseBiden, McCarthy Still Without Debt Deal But Sound Positive ToneSaudi Energy Minister Tells Oil Speculators to ‘Watch Out’Parents Sue Elite Schools for ‘Indoctrinating’ Their Kids W
Investing.com-- The Adani Group's port division became the first among the conglomerate's 10 entities to fully recover from share losses caused by short seller Hindenburg Research's report in late-January.
Adani Ports had floated a tender of up to $130 million of 3.375% 2024 maturity dollar-denominated bonds late last month, as it seeks to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report. Led by billionaire businessman Gautam Adani, the group's seven-listed stocks have lost about $114 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation.
India's Adani Ports and Special Economic Zone Ltd said on Thursday that it has completed the sale of its port in sanction-hit Myanmar for $30 million, significantly lower than its investment in the project. The Adani Group company announced the sale in May 2022 after a military coup in Myanmar and an ensuing crackdown on mass protests drew international ire and U.S. sanctions. Inputs from key minority shareholders were a key driver in the company's decision to exit the project, Adani Ports previously said, reiterating it would not engage with a sanctioned entity.
India's Adani Ports and Special Economic Zone could reduce refinancing risks after announcing a bond buyback worth up to $130 million, S&P Global Ratings said on Tuesday, citing the likelihood of a healthy cash flow in the current fiscal year. The company, part of the beleaguered Adani Group, should be able to lower its debt well ahead of the maturity of its unsecured notes worth $650 million, due in July 2024, S&P added. Billionaire Gautam Adani-backed marine port services company said on Monday it floated a tender of up to $130 million in outstanding debt, as it seeks to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's scathing report.
Adani Ports has floated a tender of up to $130 million in outstanding debt, it said in an exchange filing, as it seeks to boost investor confidence after the group's shares were pummelled earlier this year by a U.S. short-seller's report. Led by billionaire businessman Gautam Adani, the group's seven-listed stocks have lost about $114 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation. The Economic Times first reported on Monday that the Adani Group plans to buy back foreign currency bonds of various group companies.
India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Wednesday it will consider its first and a partial buyback of certain of the company's debt securities at a board meeting on April 22. Adani Ports will consider the buyback of the securities, which will either be denominated in Indian rupees or the U.S. dollar, in this financial year, subject to market conditions, it said in an exchange filing. Led by billionaire businessman Gautam Adani, the group's seven listed stocks have lost about $114 billion in market value since a Jan. 24 report by Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation, allegations the group has denied.
MUMBAI (Reuters) -India's Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, plans to prepay 10 billion rupees ($120.8 million) in commercial papers maturing in March, a company spokesperson said. "This part prepayment is from the existing cash balance and funds generated from the business operations," the spokesperson said in an emailed response late on Monday. Adani Ports has commercial papers worth 20 billion rupees due to mature in March, data from information service provider Prime Database showed.
Adani Group entities made scheduled coupon payments on outstanding U.S. dollar-denominated bonds on Thursday, a bondholder and a source with direct knowledge of the Indian conglomerate's strategy told Reuters. The payments were made as Adani Group, led by Indian billionaire Gautam Adani, battles with a rout in its stocks in India and its U.S. bonds after last week's critical report on its business practices by U.S. short-seller Hindenburg Research. Adani Ports and Special Economic Zone Limited paid coupons, the two sources, speaking on condition of anonymity, said.
Entities of billionaire Gautam Adani on Tuesday pledged more shares of the conglomerate's port unit as security to lenders, an exchange filing showed, amid a rout in the group's stocks following a scathing short-seller attack. Emerging Market Investment and Flourishing Trade and Investment pledged a 2.69% stake in the Adani Ports and Special Economic Zone to Catalyst Trusteeship, which acted as a security trustee on behalf of lenders, the filing showed. The total stake pledged by the entities in Adani Ports is now 7.79%.
Indian billionaire Gautam Adani's attempt to wrest a majority stake in one of the country's biggest news networks, NDTV, has put the spotlight on his conglomerate's rapid expansion. * Adani was born on June 24, 1962, in Ahmedabad city of the western Indian state of Gujarat - from where Prime Minister Narendra Modi also comes. * He established the Adani Group in 1988, beginning with commodities trading.
The city of Haifa is set to become an increasingly significant east Mediterranean shipping hub, with Chinese and Indian firms buying into its ports as Israel normalizes ties with its Gulf Arab neighbours under a U.S. diplomatic push. Earlier this month, as U.S. President Joe Biden visited the Middle East, India's largest port developer Adani Ports and Israeli minority partner Gadot agreed to buy Haifa Port for 4.1 billion shekels ($1.18 billion). Its founder, Asia's richest man Gautam Adani, said via Twitter that the deal was of "immense strategic and historical significance", and the company is betting the port will become a link to Europe and create new trade lanes with Asia.
Israel said on Thursday it will sell Haifa Port, a major trade hub on its Mediterranean coast, to winning bidders Adani Ports of India and local chemicals and logistics group Gadot for 4.1 billion shekels ($1.18 billion). Gadot and Adani made it to the end of a two-year tender process that Israel hopes will lower import prices and help shorten notoriously long wait times at Israeli harbors.