In our Asian Insider newsletter this week, we look at how the Adani stock rout and other issues could cast a shadow on Prime Minister Narendra Modi’s hitherto bright prospects at India’s next elections. Meanwhile, theWill India’s billionaires mar Modi’s prospects?
Battle lines are being drawn ahead of India’s election next year and recent events have given Prime Minister Narendra Modi’s rivals plenty of ammunition, writes associate editor Ravi Velloor. Chief amongst these is discontent overRead more:South Korea’s arms manufacturers have emerged as key suppliers to the Ukrainian military, boosting their global stature.
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Large investors pull Adani's US$2.5 billion share sale through after stock routMUMBAI: Adani Group's ambitious share sale exceeded its subscription targets Tuesday (Jan 31) in a relief for the Indian conglomerate, which is reeling from allegations of 'brazen' corporate fraud that wiped more than US$65 billion off its value. The success of India's biggest follow-on public offer
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Share sale fails to halt Adani market slide in IndiaMUMBAI: A successful public offer failed to stop investors dumping shares in Indian tycoon Gautam Adani's business empire for a fifth day on Wednesday (Feb 1) after allegations of massive accounting fraud from a short-seller investment group. The rout has now wiped out nearly a third - or US$76 billion - o
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Adani calls off US$2.5 billion share sale in major blow to Indian tycoonNEW DELHI: India's Adani Enterprises called off its US$2.5 billion share sale on Wednesday (Feb 1), citing market conditions, amid an ongoing rout in the wider Adani Group's stocks which was sparked by a US short-seller's critical report. 'Given the unprecedented situation and the current market volatility
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India's Adani shares plunge again after stock sale cancelledMUMBAI: Under-fire Indian tycoon Gautam Adani insisted Thursday (Feb 2) that the fundamentals of his conglomerate were 'strong' even as shares in its companies p
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India opposition seeks parliament debate on Adani stock routMr Adani’s woes could become a political headache for Prime Minister Narendra Modi. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Adani's adversity raises the stakes for India and investorsAs Indian tycoon Gautam Adani's woes deepen and force him to drop a share sale, foreign investors and Indian regulators are abandoning any pretence that the conglomerate's troubles are contained and domestic markets will be spared contagion. Foreign investors, many of them already underweight what they con
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