Finance Secy Terms Adani Group Row As ‘Storm In The Tea Cup’

Terming the Adani Group issue as “storm in the tea cup”, Union Finance Secretary T V Somanathan on Saturday said that fluctuations like this comes and goes. “I had said that in terms of our macroeconomic numbers, the issue (Adani enterprises issue) is like a storm in a tea cup and I still stand by that statement,” he said in response to a query during a press conference in Mumbai. Union Finance Nirmala Sitharaman, along with the officials of the ministry, was interacting with the media after the conference. “Foreign…

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Offshore Investor In Adani Power Linked With Adani Family: Report

Opal Investment Pvt Ltd which was portrayed by Adani Power as an independent stakeholder with a 4.69 per cent ownership in the energy firm is actually an offshore company, the Wall Street Journal has reported.   As per corporate filings obtained by The Wall Street Journals, Opal was formed on the island country of Mauritius by Trustlink International which in turn is a financial services firm with ties to the Adani Family.   The Mauritius filings reveal that one of Trustlink’s directors, Louis Ricardo Caillou is on the board of…

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Why You Should Not Stop Your SIPs

Systematic Investment Plans (SIPs) are one of the most popular investment options in India today- recent data shows that more than 23 lakh new SIP’s were started in December ’22 alone! Undoubtedly, SIP’s are a great way to create wealth over a long-term period, as you can start with a small amount of money and gradually increase it over time. SIPs come with a number of benefits, including the flexibility to choose the amount you want to invest and the frequency of your investments. Furthermore, SIPs provide a disciplined way…

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Adani Group Calls Hindenburg’s Report As ‘Malicious’

Adani Group’s Chief Financial Officer Jugeshinder Singh on Wednesday said that the company was shocked by Hindenburg’s report and called it a “malicious combination of selective misinformation and stale, baseless and discredited allegations.” Hindenburg Research report said that Adani group companies have participated in a clear stock manipulation and accounting fraud scheme over decades. It also raised concerns over its debt and said five of seven key listed Adani companies have reported current ratios below 1. The short-seller said this suggested “a heightened short-term liquidity risk”. With the Hindenburg report…

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