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<ul><li><keyword id="6503313" type="General" weightage="20" keywordseo="adani-ports-share-price" source="Orion">Adani Ports share price</keyword> fell by over 7% on Thursday.</li><li>The company had reported a fall of over 30% in its consolidated net profit for the second quarter.</li><li>The Gautam Adani-led company has also announced that it is exiting its investment in Myanmar.</li></ul>The share price of Adani Ports has tumbled by over 7% after the company reported a fall in its consolidated net profit for the second quarter ended September 30. Adani Ports opened at ₹726 and was trading at ₹693.25 at 10:50 a.m. on October 28. The company in its earnings yesterday reported a 30.52% decrease in its consolidated net profit, triggering the fall. <div type="image" title="Adani Ports 01_10_21 to 28_10_21." msid="87328098" hostid="261" caption="&amp;lt;p&amp;gt;Adani Ports share price&amp;lt;/p&amp;gt;"></div> Adani Ports share price decreased by over 7% on October 28 due to the poor results. In addition to this, the company has also revealed that it is exiting its investment in Myanmar by June 2021. The project has been under <a href="https://www.businessinsider.in/stock-market/news/gautam-adanis-adani-ports-share-price-rallies-even-as-nse-and-bse-are-being-called-on-to-take-action-against-the-company-for-myanmar-military-ties/articleshow/81843747.cms">criticism</a> since it was reported that the Adani Ports has close ties to the Myanmar Economic Corporation (MEC) that has been accused by the United Nations (UN) of committing genocide and crimes against humanity. Adani’s port projects in <a href="https://www.stopadani.com/">Australia</a> and <a href="https://www.downtoearth.org.in/news/environment/why-are-ennore-residents-protesting-against-adani-s-kattupalli-port-expansion-project--75894">Tamil Nadu</a> have also received criticism from activist groups, politicians and locals over environmental concerns. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">September 30, 2021 </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">September 30, 2020 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹ 968.30 crore </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,393.70 crore </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-30.52% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹ 4,066.80 crore </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹ 3,423.20 crore </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:middle;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18.80% </td></tr></tbody><tbody></tbody><tbody></tbody></table> While the company has reported an 18.8% increase in revenue, its net profit has declined by over 30%. The company’s total expenses have increased from ₹1,622.8 crore a year ago to ₹2,509.8 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/australian-civil-rights-group-requests-us-treasury-to-deny-licence-to-adani-ports-for-its-dealings-with-the-myanmar-military/articleshow/85242142.cms">Australian civil rights group requests US Treasury to deny licence to Adani Ports for its dealings with the Myanmar military</a> <a href="https://www.businessinsider.in/stock-market/news/gautam-adanis-adani-ports-share-price-rallies-even-as-nse-and-bse-are-being-called-on-to-take-action-against-the-company-for-myanmar-military-ties/articleshow/81843747.cms">Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders</a>

Adani Ports has lost nearly a third of its profit and its Myanmar project

<ul><li>Accounts of three foreign funds with over ₹43,000 crore in Adani Group shares suspended</li><li>Market regulator SEBI is also reportedly investigating if the Adani Group companies’ share price has been manipulated.</li><li>Shares of all the six listed Adani Group companies hit their respective lower circuits in the first hour of trading.</li></ul>Shares of all the six Adani Group companies listed on the Indian stock exchanges hit lower circuits in the opening session today morning (June 14). Adani Ports and Adani Transmission share prices were down by 15% each, while those of the other four companies were down by 5% each. The downward spiral in the share price of these companies has wiped out over $7.6 billion (approx. ₹55,000 crore) net worth of <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, according to Forbes’ real-time billionaires <a href="https://www.forbes.com/real-time-billionaires">list</a>, as of 10:00 a.m., on Monday. The meltdown was triggered by reports that the National Securities Depository Limited (NSDL) suspended the accounts of three foreign funds ⁠— all reportedly based out of the same address ⁠— that have over ₹43,000 crore invested in the Adani Group. The three accounts in question are Albula Investment Fund, Cresta Fund and APMS Investment Fund. Notably, the accounts were suspended on or before May 31. According to an Economic Times <a href="https://economictimes.indiatimes.com/markets/stocks/news/a/cs-of-3-fpis-owning-adani-shares-frozen/articleshow/83496483.cms">report</a>, the suspension could be due to insufficient disclosures under the Prevention of Money Laundering Act (PMLA). The funds had time till 2020 to disclose details on common ownership and personal details of key employees. But they didn’t. “Custodians typically warn their clients before such action but if the fund doesn’t respond or fails to comply, accounts can be frozen,” the report added, quoting an unnamed source. The rules for Indian funds investing in the stock market do not allow managers to invest in any one stock or group beyond a certain limit. But the same rule does not apply for foreign portfolio investors. According to The Morning Context, a research and media company, the three funds in question derive more than 95% of their net worth from their investments in the Adani Group companies. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foreign Portfolio Investor </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Networth due to Adani shares </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vespera Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">98.30% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTS Investment Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97.47% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cresta Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97.40% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara India Opportunities Fund </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">97% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apms Investment </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">96.18% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Albula Investment </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">95.40% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asia Investment Corporation </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.17% </td></tr></tbody></table>Source: Trendlyne.com, via The Morning Context There are two fears emerging out of the data above. One, the funds hoarding Adani group shares to reduce the number of the tradable shares in the market. And, therefore, allowing the value of the shares to inflate. Two, this may be a case of round tripping of money, whereby Indian investors may be investing via another country, to bypass the rules. None of these premises are proven yet. The Economic Times report also states that the market regulator, Securities Exchange Board of India (SEBI), is investigating if the share price of Adani Group companies has been manipulated. The investigation is still ongoing, the report added. <cmsannotation type="cmsannotation" annotationid="Market cap of Adani Group companies has skyrocketed over the last year" comment="subhead" text="Market cap of Adani Group companies has skyrocketed over the last year">Market cap of Adani Group companies has skyrocketed over the last year</cmsannotation> The Ahmedabad-based group has leapfrogged from being a medium-sized one to one of the richest family-based businesses in India, leaving behind the likes of the Tatas, Birlas, Wadias among others. In total, the six Adani Group companies had a market cap of ₹1.64 lakh crore at the end of May last year. This has now surged to over ₹8.5 lakh crore – an increase of over 420%. <div type="image" title="BAR CHART Adani Group market cap 26_05_20 - 21_05_21." msid="83502055" hostid="261"></div> An investment of ₹10,000 across the six listed Adani group companies would be worth ₹52,000 now – a return of 420% in just 12 months. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2020 (₹ crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 2021 (₹ crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Total Gas </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,604 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,47,292 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1069% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,348 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,44,603 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">842% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Transmission </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,615 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,59,939 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">715% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Green Energy </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37,497 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,03,392 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">442% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Power </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14,155 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39,012 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">176% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,448 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,57,041 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">144% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,63,666 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8,51,279 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">420% </td></tr></tbody></table> Update: Adani Ports and Logistics, part of the Adani Group, has issued the following statement. “We regret to mention that these reports are blatantly erroneous and is done to deliberately mislead the investing community. This is causing irreparable loss of economic value to the investors at large and reputation of the group. Given the seriousness of the article and its consequential adverse impact on minority investors, we requested Registrar and Transfer Agent, with respect to the status of the Demat Account of the aforesaid funds and have their written confirmation vide its email dated 14th June, 2021, clarifying that the Demat Account in which the aforesaid funds hold the shares of the Company are not frozen.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-group-listed-stocks-every-10000-invested-last-year-is-now-worth-52000/articleshow/82968072.cms">Every ₹10,000 invested in Adani’s listed firms last year is now worth ₹52,000</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-to-acquire-sb-energy-india/articleshow/82759578.cms">Adani Green Energy to acquire SB Energy India, boosting its renewable energy capacity by 4.9GW</a> <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-ipo-from-2020-has-doubled-its-share-price-in-6-months/articleshow/82732413.cms">A super hit IPO from 2020 has finally doubled investors' money</a>

Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks

Gautam Adani in striking distance of entering the top 20 richest club once again

<ul><li><keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword>’ share price continued its upward rally, hitting a 52-week high as analysts gave it a thumbs up.</li><li>Adani Ports is India’s largest private multi-port operator and is a part of the Adani Group.</li><li>Adani Ports acquired <keyword id="487749" type="COMPANY" weightage="20" keywordseo="Krishnapatnam-port">Krishnapatnam Port</keyword> (<keyword id="117191" type="ORGANIZATION" weightage="20" keywordseo="KPCL">KPCL</keyword>) in October at an enterprise value of ₹12,000 crore.</li><li>Analysts expect a yield of up to three times from the KPCL asset.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>Shares of Adani Ports and Special Economic Zone hit a 52-week high as the largest private multi-port operator received a thumbs up from analysts. The <keyword id="6503313" type="UNKNOWN" weightage="20" keywordseo="Adani-Ports-share-price">Adani Ports share price</keyword> was up nearly 4% around 1 pm on December 7, continuing the stock’s upward rally over the last one month. Brokerages are bullish on the <keyword id="10323820" type="UNKNOWN" weightage="20" keywordseo="Adani-Ports-stock">Adani Ports stock</keyword>, expecting a faster-than-expected turnaround in the Krishnapatnam Port (KPCL) acquisition. <div type="image" title="Adani Ports share price" msid="79605225" hostid="261" caption="&amp;lt;p&amp;gt;Adani Ports share price&amp;lt;/p&amp;gt;"></div> Adani Ports had completed the acquisition of Krishnapatnam Port at an enterprise value of ₹12,000 crore in October this year. Adani Ports has improved the margins from 58.1% last year to 68.1% this year. This was achieved thanks to price hikes and improved operational efficiencies, as noted by the company in a recent analyst meet. <div type="Article" hostid="261" msid="78489124" title="Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company" mstype="2" mssubtype="0"></div> The Krishnapatnam boost Analysts at Kotak Institutional Equities expect a yield of 3 times of the invested value from the KPCL asset. The report further states ‘unbridled growth prospects’ lie ahead for Adani Ports from this investment. “Adani Ports has turned around its Krishnapatnam acquisition significantly ahead of our previous estimates, leading to an earnings upgrade,” Nomura India analyst Priyankar Biswas said in a note, according to a BloombergQuint <a href="https://www.bloombergquint.com/markets/this-caused-adani-ports-stock-to-hit-a-record-high">report</a>. The note issued by Jefferies observes that Krishnapatnam Port’s margins rose to 68% in the first six months of the financial year 2020-21. “Adani Ports showcased the management focus to improve Krishnapatnam Port’s (KPTL) margins from the current 68 percent to 80 percent by FY25E. KPCL is a value-accretive acquisition with 26 percent equity IRR even on our conservative 73 percent FY25E margin estimate,” Jefferies said, according to a CNBCTV18 <a href="https://www.cnbctv18.com/market/stocks/adani-ports-hits-52-week-high-on-bullish-brokerage-calls-7661051.htm">report</a>. Brokerages raise target price In a recently held analyst meet, Adani Ports stated that it has undertaken various measures to improve operational efficiencies, and re-negotiated tariffs with key customers, according to a Times Now <a href="https://www.timesnownews.com/videos/et-now/markets/adani-ports-krishnapatnam-port-turnaround-faster-than-estimates/82981">report</a>. As a result, various brokerages have revised their target prices upward, with an upswing of up to 15% to the Adani Ports share price. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#000000;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Upside </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹540 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹530 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹525 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹495 </td><td style="border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr></tbody></table> Source: Brokerages, MoneyControl Note: Upswing calculated based on share price as at 1 pm, December 7, 2020. SEE ALSO: <a href="https://www.businessinsider.in/business/news/adani-ports-completes-12000-crore-acquisition-of-krishnapatnam-port-company/articleshow/78489124.cms">Adani Ports completes ₹12,000 crore acquisition of Krishnapatnam Port Company</a> <a href="https://www.businessinsider.in/business/news/adani-ports-lands-900-crore-through-non-convertible-debentures/articleshow/78058955.cms">Adani Ports lands ₹900 crore through non-convertible debentures</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-10-billion-ipo-will-double-walmart-investment-within-3-years/articleshow/79601513.cms">Flipkart’s reported $10 billion IPO plan will mean Walmart’s investment in the Indian e-commerce giant will double within 3 years</a>

Adani Ports is making 68% margin from one of its ports – the stock has doubled since lockdown

<ul><li>The Australian Centre of International Justice (ACIJ) and activist group Justice for Myanmar (JFM) have called on India's stock exchanges to take regulatory action against <keyword id="895682" type="COMPANY" weightage="20" keywordseo="Adani-Ports">Adani Ports</keyword>, led by Indian billionaire <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>.</li><li>According to them, the company is ‘factually misleading’ stakeholders by failing to disclose its association with the Myanmar military.</li><li>Meanwhile, Adani Ports saw its share price skyrocket by nearly 5% on the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE).</li></ul>Indian billionaire Gautam Adani seems to be unable to get away from the controversy of allegedly having close ties with the Myanmar military — which is now ruling the country after a coup — even after multiple denials. The Australian Centre of International Justice (<a href="https://acij.org.au/joint-media-release-adani-ports-misleads-shareholders-in-statement-that-fails-to-disclose-myanmar-military-ties-nse-and-bse-must-take-regulatory-action/">ACIJ</a>) and activist group Justice for Myanmar (JFM) have called on the India’s stock exchanges to take regulatory action against his company, Adani Ports, for failing to disclose ties with the military junta. Meanwhile, Adani Ports’ — the largest private port operator in India — shares rallied by 4.43% on the National Stock Exchange (NSE) and 4.77% on the Bombay Stock Exchange (BSE) on April 1. Gautam Adani, the chairman and managing director of the Adani Group, has seen his <a href="https://www.businessinsider.in/business/corporates/news/gautam-adani-beats-elon-musk-jeff-bezos-and-mukesh-ambani-in-2021-with-highest-increase-in-net-worth/slidelist/81467132.cms">wealth skyrocket in 2021</a>. His net worth has grown more than even Amazon’s Jeff Bezos or Tesla’s Elon Musk this year. <div type="image" title="Copy of wipro share price" msid="81844454" hostid="261" caption="&amp;lt;p&amp;gt;Adani Ports&amp;#39; share price since 1 January 2021&amp;lt;/p&amp;gt;"></div> The civil rights organisation claims that the statement released by <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">Adani Ports</a> on March 31 is ‘factually misleading’. The issue centres around how the company is linked to the Myanmar Economic Corporation (MEC). “Adani Ports’ direct business with MEC exposes shareholders to major international law, corruption and reputational risks,” wrote ACIJ in its press release on April 1. Business Insider India has reached out to Adani Ports for a comment on the issue but is yet to receive a response. <cmsannotation type="cmsannotation" annotationid="Why is Adani Ports’ association with MEC a concern of civil rights?" comment="subhead" text="Why is Adani Ports’ association with MEC a concern of civil rights?">Why is Adani Ports’ association with MEC a concern of civil rights?</cmsannotation> The MEC is controlled by Myanmar’s armed forces that have been accused by the United Nations (UN) of committing genocide and crimes against humanity. <a href="https://www.businessinsider.in/international/news/in-2-months-myanmars-military-has-killed-more-than-500-people-the-international-community-has-done-little-to-help-/articleshow/81819602.cms">More than 500 people</a> have been killed in the Myanmar military’s brutal crackdown on protests against its coup to oust civilian leader Aung San Suu Kyi. Moreover, the US hit the MEC with sanctions <a href="https://techcrunch.com/2021/03/29/united-states-myanmar-sanctions-internet/">last week</a> citing that the MEC is ‘a vital financial lifeline for the military junta’. According to the <a href="https://acij.org.au/wp-content/uploads/2021/03/Port-of-Complicity-Report-FINAL-Low-Resolution-Version.pdf">ACIJ and JFM</a>, documents show that Adani Ports will pay up to $30 million in land lease fees for the project to the MEC. Moreover, documents filed with Myanmar’s corporate regulator show Adani bringing in $141 million ‘capital in cash and $148 million ‘capital in kind’ for the project as per <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">ABC Australia</a>’s investigation. However, Adani Ports’ maintains that the facts are being misrepresented. <cmsannotation type="cmsannotation" annotationid="The timeline of accusations against Adani Ports — and subsequent denials" comment="subhead" text="The timeline of accusations against Adani Ports — and subsequent denials">The timeline of accusations against Adani Ports — and subsequent denials</cmsannotation> As early as August 2018, the UN Human Rights Council (UNHRC) <a href="https://www.ohchr.org/Documents/HRBodies/HRCouncil/FFM-Myanmar/A_HRC_39_CRP.2.pdf">issued a public warning</a> to foreign corporations not to do business with the MEC. However, 10 months later, on 23 May 2019, Adani Ports entered into a ‘build, operate, transfer’ (BOT) agreement with the entity as per ACIJ’s report. The deal entails Adani Ports’ Myanmar subsidiary — the Adani Yangon International Terminal Company — constructing a container port in Yangon on MEC’s military-owned land. Come September 2019, a report by UNHRC listed out the corporations involved in operations with the MEC. Many began to review their business operations and disengaged from ongoing projects. Meanwhile, Adani Ports remained silent. But, as pressure built up, Adani Ports <a href="https://www.business-humanrights.org/en/latest-news/adani-ports-sez-ltd-did-not-respond/">categorically denied</a> engaging with Myanmar’s military leadership in order to facilitate its project in the country in February earlier this year. However, <a href="https://www.abc.net.au/news/2021-03-30/queensland-adani-ports-myanmar-military-deal/100032156">photographic and video evidence</a> sourced by ABC Australia earlier this week contradicts those claims. Adani Ports claims that the visit was a ‘cultural courtesy’ and a ‘customary practice’. “Much like our global peers, we are watching the situation in Myanmar carefully and will engage with the relevant authorities and stakeholders to seek their advice on the way forward,” said the company's spokesperson in a <a href="https://www.adaniports.com/Newsroom/Media-Releases/Media-Statement-from-Adani-Group-on-Myanmar-Situation">statement</a> on March 31. Adani’s port projects in <a href="https://www.stopadani.com/">Australia</a> and <a href="https://www.downtoearth.org.in/news/environment/why-are-ennore-residents-protesting-against-adani-s-kattupalli-port-expansion-project--75894">Tamil Nadu</a> have also received criticism from activist groups, politicians and locals over environmental concerns. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-isros-nisar-satellite-could-face-a-seven-month-delay-and-cost-36-million-more-bearing-the-impact-of-covid-19/articleshow/81841231.cms">NASA-ISRO joint radar satellite could face a seven-month delay and cost $36 million more bearing the impact of COVID-19</a> <a href="https://www.businessinsider.in/finance/banks/news/state-bank-of-indias-sbi-mobile-banking-services-have-been-down-for-over-an-hour/articleshow/81820564.cms">SBI's mobile banking seems to have hit a snag — this time without a warning</a>

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Adani Ports has lost nearly a third of its profit and its Myanmar project

Rounak Jain

Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks

Rounak Jain

Gautam Adani in striking distance of entering the top 20 richest club once again

Rounak Jain

Adani Ports is making 68% margin from one of its ports – the stock has doubled since lockdown

Rounak Jain

Aussie civil rights group calls on India's stock exchanges to take action against Adani Ports for 'factually misleading' stakeholders

Prabhjote Gill

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