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Race for India’s richest – The gap between Gautam Adani and Mukesh Ambani is narrowing

<ul class="summary-list"><li>Rajiv Jain made a big bet on Gautam Adani's business empire last month.</li><li>He told Bloomberg Monday that he believes his $1.9 billion investment could deliver 100% returns over the next five years.</li></ul>Investing in Gautam Adani's companies could generate massive returns over the next five years, according to an emerging markets specialist who made a big bet on the Indian tycoon's troubled business empire last month.Rajiv Jain poured $1.9 billion into four of the Adani Group's ten listed companies last month – and said Monday that he thinks the value of his investment could double over the next half-decade."These could be multibaggers," the GQG Partners CIO told <a href="https://www.bnnbloomberg.ca/gqg-sees-2-billion-adani-bet-delivering-returns-over-100-1.1904556" target="_blank" rel="noopener">Bloomberg</a>, referring to stocks that deliver returns of 100% or more.Adani has lost as much as $153 billion worth of market capitalization since short-seller Hindenburg Research <a href="https://markets.businessinsider.com/news/stocks/adani-group-hindenburg-research-short-report-4th-richest-person-world-2023-1?utm_medium=ingest&amp;utm_source=markets">released a scathing report</a> in January that alleged the conglomerate had engaged in stock manipulation and accounting fraud to perpetrate what it called "<a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener">the largest con in corporate history</a>", according to data from Bloomberg.The Indian conglomerate has repeatedly dismissed Hindenburg's report, saying it includes "<a href="https://www.adanienterprises.com/newsroom/media-releases/Media-Statement-on-Hindenburg-Research-Report">misinformation and stale, baseless and discredited allegations</a>".Jain agreed with those denials and is betting that Adani's coal-mining assets, data centers, and majority stake in Mumbai's international airport will deliver returns for GQG."If you peel the onion a little bit further, we didn't find any signs of fraud or anything like that," Jain told <a href="https://www.bloomberg.com/news/videos/2023-04-04/why-gqg-s-rajiv-jain-is-betting-on-adani-s-empire-video">Bloomberg TV</a> in an interview that aired Monday."If you look at the longer-term opportunities that these companies have, it's tremendous," he added. "These are very well run assets, unique assets, monopolistic assets.""And obviously, there was a little bit of crisis and we believe that that creates a massive, longer-term headroom for these businesses and opportunity for us."Read more: <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-hindenburg-research-explained-stock-market-outlook-investing-analysis-2023-1">Everything you need to know about Gautam Adani and Hindenburg after the short seller's fraud allegations burnt a $72 billion hole in the richest Asian's empire</a>

Adani could deliver 'multibagger' returns, an investor who bet $2 billion on the troubled business empire says

<ul class="summary-list"><li>The Adani Group has lost more than $100 billion in market value as its stocks took a beating from the Hindenburg report. </li><li>Shares in its flagship business, Adani Enterprises, shed more than 25% on Thursday. </li></ul>Adani Group stocks have now wiped out over $100 billion in market value, with the troubled Indian conglomerate canceling its share sale in the wake of a short-seller attack, <a href="https://www.reuters.com/world/india/adani-group-chairman-says-withdrew-share-sale-insulate-investors-losses-2023-02-02/" target="_blank" rel="noopener">according to Reuters</a>. Shares in its flagship company Adani Enterprises plunged 26.7% Thursday, and are down almost 60% this year. The Adani Group – spearheaded by Indian tycoon Gautam Adani – fell into turmoil last month after US short seller Hindenburg Research released a scathing report alleging "brazen stock manipulation and accounting fraud scheme" at the conglomerate. It sparked a verbal battle between Adani and Hindenburg, with the former calling the report <a href="https://markets.businessinsider.com/news/stocks/adani-group-legal-action-hindenburg-short-seller-2023-1?utm_medium=ingest&amp;utm_source=markets" rel="">"maliciously mischievous" and "unresearched"</a> while the short seller stood its ground on the accusations, saying "fraud is fraud." With the conglomerate taking a massive market beating following the report, it's forced the group to cancel a <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/8e2c9f40-730f-444a-a65f-432194e81edc.pdf" target="_blank" rel="noopener nofollow">$2.5 billion share sale</a> even after Adani Enterprises' offering was <a href="https://markets.businessinsider.com/news/stocks/adani-completes-share-sale-market-rout-hindenburg-fraud-allegations-2023-1?utm_medium=ingest&amp;utm_source=markets" rel="">fully subscribed Tuesday</a> with the help of institutional investors. Meanwhile, Adani's personal fortune has tumbled after the Hindenburg report. The billionaire has lost nearly $50 billion in net worth this year so far, costing him the title as Asia's richest person. He is now worth about $72 billion, falling behind fellow Indian billionaire <a href="https://www.bloomberg.com/billionaires/profiles/mukesh-d-ambani/" target="_blank" rel="noopener nofollow">Mukesh Ambani.</a>

Adani stocks have now wiped out over $100 billion in market value as botched share sale piles on trouble

<ul class="summary-list"><li>Indian tycoon Gautam Adani's companies have lost over $110 billion in market value since a US short seller attack in January.</li><li>Since then, Adani's ties with Prime Minister Narendra Modi have come under scrutiny.</li></ul>Indian tycoon Gautam Adani's troubles with his conglomerate's stock price have spilled over to his country's politics — his ties to Prime Minister Narendra Modi have now come under scrutiny.Ever since US short seller Hindenburg Research released a scathing <a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener nofollow">report</a> on January 24 alleging a "brazen stock manipulation and accounting fraud scheme" at the conglomerate, the shares of Adani Group companies have <a href="https://markets.businessinsider.com/news/stocks/adani-hindenburg-shares-india-sebi-regulator-calm-market-2023-2">been in freefall.</a> And now angry protestors are demanding an investigation into these allegations. On Monday, hundreds of Indian opposition party members demonstrated on the streets of New Delhi, hitting out at investments into Adani's firms made by several state-backed companies as a market rout tore through the companies, <a href="https://www.reuters.com/world/india/indias-adani-shares-see-extended-sell-off-credit-warnings-kick-2023-02-06/" target="_blank" rel="noopener">Reuters</a> reported.Even Modi has been dragged into the kerfuffle — since both he and Adani are from the western Indian state of Gujarat. The prime minister's political opponents say that the leader favors Adani — a claim the Modi government has rejected, per <a href="https://www.reuters.com/world/india/indias-adani-shares-see-extended-sell-off-credit-warnings-kick-2023-02-06/" target="_blank" rel="noopener">Reuters.</a> Adani himself told a local TV channel on Friday that claims of his rise are thanks to a close friendship with Modi are "baseless," reported the <a href="https://timesofindia.indiatimes.com/business/india-business/gautam-adani-says-crediting-his-rise-to-pm-modi-a-baseless-allegation/articleshow/97569363.cms" target="_blank" rel="noopener">Times of India.</a> "The fact of the matter is that my professional success is not because of any individual leader," said Adani.<div type="image" title="Activists of the youth wing of India's main opposition Congress party try to break a police barricade during a protest against what they say are investments by Life Insurance Corporation (LIC) and State Bank of India (SBI) in Adani Group, in New Delhi, India, February 6, 2023." height="2816" width="3754" msid="97692100" hostid="261" sizebytes="710962"></div>Still, perceived coziness between Modi and Adani has become an asset to Modi's political opponents, Steno Research, a Denmark-based research house, wrote in a February 3 <a href="https://www.smartkarma.com/insights/india-watch-why-india-suffers-when-china-is-open-for-business" target="_blank" rel="noopener nofollow">report</a> published on the Smartkarma research platform."The Hindenburg scandal is the perfect weapon for the Indian political opposition against PM Modi. Not only is Modi's relationship with Adani coming into question, Modi's growth model is too," the research firm wrote.The Adani Group itself said in a <a href="https://www.adani.com/-/media/Project/Adani/Invetsors/Adani-Response-to-Hindenburg-January-29-2023" target="_blank" rel="noopener nofollow">January 29 report</a> refuting Hindenburg's claims that the short sellers' report was "not merely an unwarranted attack on any specific company but a calculated attack on India, the independence, integrity, and quality of Indian institutions, and the growth story and ambition of India."In response, <a href="https://hindenburgresearch.com/?p=2500" target="_blank" rel="nofollow noopener">Hindenburg</a> said Adani was trying to take the focus away from substantive issues and was stoking a "nationalist narrative" instead.But, "the patriotic outcry is not entirely unfounded," noted said Steno Research.<div type="image" title="Opposition parties' MPs stage a protest over Adani row at the Gandhi statue, in the Parliament complex, on February 6, 2023 in New Delhi, India." height="3336" width="4449" msid="97692103" hostid="261" sizebytes="992582"></div>The selloff in Adani shares — which <a href="https://www.bloomberg.com/news/articles/2023-02-03/adani-rout-spurred-by-short-seller-among-biggest-in-history">topped $110 billion in two weeks</a> — <a href="https://www.businessinsider.com/adani-ambani-bad-month-indian-billionaires-lost-billions-2023-1?utm_medium=ingest&amp;utm_source=markets" rel="">spilled over</a> into the broader Indian markets. The benchmark Sensex and Nifty 50 indices dipping lower, which is prompting concerns about corporate governance and debt in the country — this could also have wider implications."The Adani Group — with investments in ports, roads, rail, airports, and power — is now a crucial vehicle for India's economic ambitions under PM Narendra Modi Combined with Adani's vast debt intake, some commentators are fearing that the Hindenburg report is threatening the wider Indian economy," added Steno Research in its February 3 report.On its part, the Adani Group has been troubleshooting hard. On <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-net-worth-billionaire-world-richest-list-hindenburg-shortseller-2023-1?_gl=1*f11orn*_ga*MTMwNjYzODQ5MS4xNjMzMzIwMTA2*_ga_E21CV80ZCZ*MTY3NTc0NjA0OS4yNDU4LjEuMTY3NTc0Njg0OC4wLjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets" rel="">January 29,</a> it released a <a href="https://www.adani.com/-/media/Project/Adani/Invetsors/Adani-Response-to-Hindenburg-January-29-2023" target="_blank" rel="noopener nofollow">413-page report</a> defending itself against Hindenburg's allegation — just three days after saying it was <a href="https://markets.businessinsider.com/news/stocks/adani-group-legal-action-hindenburg-short-seller-2023-1?_gl=1*f2o1x6*_ga*MTMwNjYzODQ5MS4xNjMzMzIwMTA2*_ga_E21CV80ZCZ*MTY3NTc0NjA0OS4yNDU4LjEuMTY3NTc0Njk3MS4wLjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets" rel="">exploring potential legal action</a> against the short seller.They even sought to restore investor confidence by prepaying $1.1 billion in loans, the conglomerate said in a <a href="https://www.adani.com/Newsroom/Media-Release/Statement-On-Pledge-of-Shares-of-Adani-Listed-Companies" target="_blank" rel="noopener nofollow">statement</a> on Monday. It said the move was made "in light of recent market volatility."And it seems to be working — some Adani Group-related stocks appeared to be lifted by the news.The conglomerate's flagship company, Adani Enterprises shares were 15.6% higher by 2.45 p.m. local time, while those of Adani Ports and Special Economic Zone climbed 2.4%. Shares of Adani Transmission were also up about 1%. Adani Green Energy, Adani Power, and Adani Total Gas were all 5% lower.

India's stock market crisis isn't just the Adani Group's problem — it's a political issue for Prime Minister Modi too

<ul><li>India’s largest airline InterGlobe Aviation (IndiGo) has much to gain if its peer Go First fails to land safely.</li><li>Cooler crude, more passengers taking to the skies, and the grounding of Go First have set the airline’s growth on a higher altitude.</li><li>IndiGo also expects a 15% growth in its revenue per available seat kilometre (RASK), a key metric for airlines, in FY24.</li></ul>India’s largest airline InterGlobe Aviation (IndiGo) has a lot to cheer if its peer Go First fails to land safely – with domestic and international market share up for grabs. If the troubles of the budget airline which has <a href="https://www.businessinsider.in/business/news/go-first-suspends-sale-of-tickets-till-may-15-dgca-asks-airline-to-process-refunds-for-passengers/articleshow/99982706.cms">filed</a> for insolvency compound, competition will ease in the low-cost segment giving IndiGo more control over air fares. IndiGo’s shares have surged by over 7% since May 2 when Go First announced that it had filed a voluntary insolvency petition with the National Company Law Tribunal (NCLT). Despite the recent surge, IndiGo is flying light – literally and figuratively – with its valuations being attractive, according to brokerages. On the back of robust fleet utilization rates and the Indian aviation sector being on an upswing, IndiGo expects its revenue per available seat kilometre (RASK), a key metric for airlines, to grow at 15% in FY24. Now, new tailwinds like the grounding of Go First and the softening of crude oil prices are expected to give it a further boost. “The bias is positive towards airline stocks, predominantly IndiGo, for the next 9-12 months,” said a report by Motilal Oswal, adding that the airline is well positioned to improve its realisations and margins too. An average of brokerage estimates suggests that there is an upside of 17% over the next 12 months, with a target price of ₹2,536 per share, as compared to the current market price of ₹2,164. <div type="image" title="InterGlobe Aviation share price 01_01_23 to 05_05_23." msid="100009463" hostid="261" caption="&amp;lt;p&amp;gt;IndiGo share price in 2023&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Dominance will play to its advantage" comment="subhead" text="Dominance will play to its advantage">Dominance will play to its advantage</cmsannotation> There is daylight between the market share of IndiGo and its rivals – the company has a market share of 55% domestically. Air India and Vistara, owned by the Tata group come in next, with a share of 8.9% and 8.7% respectively. IndiGo’s dominance will play to its advantage, according to analysts, not only helping it boost its margins, but also increase its market share. “Go First accounted for 8% of domestic traffic and 5% of international traffic (among Indian carriers). If this capacity goes out of the system, industry-level load factor and pricing environment can improve substantially,” said a report by IIFL Securities. Analysts at Credit Suisse explain that bringing an airline back from the brink of a collapse is difficult, as evidenced by Jet Airways’ troubles. “Go First filing for bankruptcy can benefit IndiGo in many ways,” the brokerage said. <cmsannotation type="cmsannotation" annotationid="IndiGo’s flight gets bigger wings" comment="subhead" text="IndiGo’s flight gets bigger wings">IndiGo’s flight gets bigger wings</cmsannotation> While <a href="https://www.businessinsider.in/business/corporates/engines-omicron-more-the-timeline-of-troubles-at-go-first/slidelist/99987425.cms">Go First</a> was India’s third largest airline, the Covid-19 pandemic hit the company hard when Pratt &amp; Whitney engines started failing, leading to the airline grounding half of its fleet. The company <a href="https://www.businessinsider.in/business/news/go-first-suspends-sale-of-tickets-till-may-15-dgca-asks-airline-to-process-refunds-for-passengers/articleshow/99982706.cms">voluntarily filed</a> for insolvency seeking interim relief from NCLT to stop lessors from possessing its fleet. IndiGo too was a customer of Pratt &amp; Whitney once. But, when its engine troubles surfaced in 2016, it signed on a competitor – another US-based engine manufacturer CFM, and escaped this fate. With a diverse and young fleet, the airline now boasts over 1,800 daily departures with more than 300 aircraft. Further, to cater to the growing demand, IndiGo is also looking to expand its fleet by 500 more aircraft, from Boeing and Airbus. This was right after its rival Air India run by the Tata group <a href="https://www.businessinsider.in/india/news/of-total-840-aircraft-order-470-is-for-planes-while-the-rest-370-are-options-says-air-india-executive/articleshow/97978085.cms">placed</a> a mega order of 470 aircraft. <cmsannotation type="cmsannotation" annotationid="Flying high" comment="subhead" text="Flying high">Flying high</cmsannotation> Overall, brokerages are bullish about IndiGo’s prospects, stating that the softening crude oil prices will further help the airline improve its margins. A surge in domestic passenger traffic also bodes well for the Indian aviation sector, with April witnessing 15% higher traffic of 4.3 lakh passengers per day, than the FY23 average of 3.73 lakh. All in all, IndiGo’s numero uno position in India, cooler crude, more passengers taking to the skies, and the fall of Go First all set the airline’s growth on a higher altitude. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-hdfc-market-capitalisation-falls-after-msci-tweak/articleshow/100006092.cms">HDFC Bank, HDFC market capitalisation falls nearly ₹88,000 crore after MSCI tweak</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-q4-net-profit-more-than-doubles-yoy-to-722-crore/articleshow/99990510.cms">Adani Enterprises Q4 net profit more than doubles YoY to ₹722 crore as airports and roads businesses pick up pace</a> <a href="https://www.businessinsider.in/business/auto/news/hero-motocorp-q4-net-profit-beats-estimates-rises-37-yoy-to-859-crore/articleshow/99989966.cms">Hero MotoCorp Q4 net profit beats estimates, rises 37% YoY to ₹859 crore</a>

The skies are clearer for IndiGo stock to surge further as Go First’s troubles mount

<keyword id="1464841" type="General" weightage="20" keywordseo="Edtech" source="Orion">Edtech</keyword> firm <keyword id="6384897" type="General" weightage="20" keywordseo="BYJUs" source="Orion">BYJU's</keyword> will not be able to meet its March 2023 deadline to achieve group-level <keyword id="6515078" type="General" weightage="20" keywordseo="profitability" source="Orion">profitability</keyword>, as it envisioned in its earnings in October last year, reliable sources said on Monday. On top of it, its results for most of the months for the current fiscal year are delayed again. Sources told IANS that the company, which has sacked thousands of employees to date and has taken deeper cuts, is still unable to achieve profitability at group level amid mounting losses. In October after firing 2,500 employees and consolidating its business in the country, Mrinal Mohit, CEO, BYJU'S India business, had said that "these measures will help us achieve profitability in the defined time frame of March 2023". At a group level, BYJU's had said its top priority is to achieve "overall profitability by March 2023". However, this appears impossible now with the company still struggling to stem growing losses. Last week, the edtech major laid off another 15 per cent of its employees, or more than 1,000 people, mainly from its engineering teams, as the company continues phased layoffs to remain growth-oriented in a global economic meltdown. Between April-July 2022, the company logged a revenue of Rs 4,530 crore. Post that, there has been no communication from the company about the pending results. The edtech unicorn reported a loss of Rs 4,588 crore for the fiscal year that ended on March 31, 2021. BYJU's had claimed it clocked gross revenues of nearly Rs 10,000 crore in FY22. Meanwhile, according to sources, BYJU's acquisition of Delhi-based offline test preparatory services provider Aakash for nearly $1 billion is still incomplete and Aakash Chaudhry, Co-Promoter and Managing Director of Aakash Educational Services Limited (AESL), has resigned from the board. When reached, Aakash declined to comment. New reports emerged in December that BYJU's, which may have seen a definite erosion in its last market value at $22 billion, hasn't paid several of its vendors for months. According to Morning Context, "some of the payments are due since March and there is trouble with their clearance. In the eight months to October 2022, cumulative dues to vendors have crossed Rs 90 crore". When reached, BYJU's had not offered a comment on this report. In seemingly fresh trouble for BYJU's, some lenders had asked the edtech unicorn to repay part of a $1.2 billion <keyword id="6360217" type="General" weightage="20" keywordseo="loan" source="Orion">loan</keyword> they recently bought into as they renegotiate terms of the debt. The demand from <keyword id="88431" type="General" weightage="20" keywordseo="creditors" source="Orion">creditors</keyword> comes at a time when BYJU's was in the process to restructure the loan. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bike-bazaar-raises-10-million-in-series-d-funding-round-from-german-investment-firm-deg/articleshow/97647515.cms">Bike Bazaar raises $10 million in series D funding round from German investment firm DEG</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a>

BYJU's to miss March 2023 deadline for group level profitability, results delayed again

<ul class="summary-list"><li>A crisis at the Adani Group is clouding over India just as China reopens.</li><li>A US short seller report alleging market manipulation and fraud at the Adani Group has caused a market rout.</li></ul>Until recently, India was having a moment — its stock market was posting solid gains and potential investors were looking at the country as the <a href="https://www.businessinsider.com/china-india-supply-chain-covid-sanctions-manufacturers-relocating-tariffs-options-2022-12">new factory of the world</a> to replace China.But a major scandal engulfing Gautam Adani, the founder and chairman of one of the country's largest business empires, is clouding over India Inc right now.The industrial tycoon's crisis started after US short seller Hindenburg Research released a scathing <a href="https://hindenburgresearch.com/adani/" target="_blank" rel="noopener nofollow">report</a> last Tuesday alleging "brazen stock manipulation and accounting fraud scheme" at the <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-hindenburg-allegations-net-worth-crash-2023-1?utm_medium=ingest&amp;utm_source=markets" rel="">Adani Group.</a> The Adani Group has been <a href="https://markets.businessinsider.com/news/stocks/gautam-adani-net-worth-billionaire-world-richest-list-hindenburg-shortseller-2023-1?utm_medium=ingest&amp;utm_source=markets" rel="">defending itself vigorously,</a> but Hindenburg has also doubled down on its initial report.Still, the development has rattled investor confidence, causing a market rout with listed companies under the Adani Group <a href="https://markets.businessinsider.com/news/stocks/adani-stocks-wipe-out-over-100-billion-market-value-2023-2" rel="">losing over $100 billion</a> in market value so far this year. The selloff has also <a href="https://www.businessinsider.com/adani-ambani-bad-month-indian-billionaires-lost-billions-2023-1">spilled over</a> into the broader India markets and is prompting concerns about corporate governance and debt in the country."The Adani case is a worrying sign for the sustainability of many Indian conglomerates which have followed in Adani's footsteps funding rapid expansions in infrastructure through large amounts of debt," Steno Research, a Denmark-based research house, wrote in a Friday <a href="https://www.smartkarma.com/insights/india-watch-why-india-suffers-when-china-is-open-for-business" target="_blank" rel="noopener">report</a> published on the Smartkarma research platform.It doesn't help that the drama surrounding the Adani Group comes at an inopportune time — that is, just as <a href="https://www.businessinsider.com/china-will-drop-covid-restrictions-quarantine-for-visitors-in-january-2022-12">China</a> is reopening its borders and looking to bolster its economy after three years of <a href="https://www.businessinsider.com/china-zero-covid-policy-lockdowns-global-economy-vaccine-treatments-pandemic-2022-8">pandemic-induced isolation.</a>China's border closures had helped India, with this shift contributing to optimism in Indian equities — which were <a href="https://txtify.it//https://www.reuters.com/markets/asia/indian-stocks-top-asian-markets-strong-economic-growth-fuels-hope-2022-12-22/" target="_blank" rel="noopener">Asia's top performers in 2022.</a> India's benchmark Sensex and Nifty 50 indices have surpassed their 2019 levels and more than doubled from their 2020 lows during in the pandemic. In comparison, any gains on Hong Kong's Hang Seng Index and the Shanghai Composite have been relatively limited, and both measures tanked about 15% in 2022.But, the Hang Seng and Shanghai Composite have recovered somewhat this year after China emerged from on-off pandemic lockdowns. And they could benefit further from Adani's troubles."Allegations of fraud at one of India's most valuable conglomerates, the Adani Group, have hastened the decline we expected in Indian equities as foreign investors rebalance their portfolios on <a href="https://www.businessinsider.com/stock-market-china-trade-investing-strategy-zero-covid-reopening-recession-2023-1" target="_blank" rel="noopener noreferrer">China's reopening,</a>" Shumita Deveshwar, the chief economist for India at macroeconomic consultancy TS Lombard, wrote in a Monday note seen by Insider.The Hang Seng Index and the Shanghai Composite were lower at noon on Friday, but are up over 7% and 4% respectively this year so far. In comparison, India's benchmark Sensex and Nifty 50 indices were flat in early trade on Friday, but are down 1.5% and 3% respectively this year so far.Investors are bound to intensify their scrutiny of Indian stocks, TS Lombard's Deveshwar added in her Monday note, but the country's corporate governance metrics rank better than most emerging markets including Saudi Arabia, China, and Brazil, according to a November 2022 report from the consultancy.

You Searched For "adani group troubles" and got 7 results

Race for India’s richest – The gap between Gautam Adani and Mukesh Ambani is narrowing

Sourabh Jain

Adani could deliver 'multibagger' returns, an investor who bet $2 billion on the troubled business empire says

Zinya Salfiti

Adani stocks have now wiped out over $100 billion in market value as botched share sale piles on trouble

Zahra Tayeb

India's stock market crisis isn't just the Adani Group's problem — it's a political issue for Prime Minister Modi too

Huileng Tan

The skies are clearer for IndiGo stock to surge further as Go First’s troubles mount

Rounak Jain

BYJU's to miss March 2023 deadline for group level profitability, results delayed again

IANS

Adani's crisis is casting a cloud over India — and it could benefit China, which is just reopening after 3 years of COVID isolation

Huileng Tan

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