Adani Enterp. 2544.35↑6.90(0.27%)
Adani Ports 726.85↑2.35(0.32%)
Apollo Hospitals 4609.90↑41.75(0.91%)
Asian Paints 3128.40↑4.85(0.16%)
Axis Bank 926.95↑5.90(0.64%)
B P C L 364.30↑1.00(0.28%)
Bajaj Auto 4615.95↓-28.05(-0.60%)
Bajaj Finance 6904.50↑63.35(0.93%)
Bajaj Finserv 1439.15↑11.80(0.83%)
Bharti Airtel 817.95↓-4.75(-0.58%)
Britannia Inds. 4596.20↑32.90(0.72%)
Cipla 951.35↑5.90(0.62%)
Coal India 241.50↑1.45(0.60%)
Divi's Lab. 3514.00↑78.35(2.28%)
Dr Reddy's Labs 4530.95↑27.00(0.60%)
Eicher Motors 3690.35↑38.85(1.06%)
Grasim Inds 1688.30↓-13.05(-0.77%)
H D F C 2650.60↑3.20(0.12%)
HCL Technologies 1139.20↑23.20(2.08%)
HDFC Bank 1615.80↑6.20(0.39%)
HDFC Life Insur. 577.20↑5.15(0.90%)
Hero Motocorp 2745.15↑12.35(0.45%)
Hind. Unilever 2652.35↑55.10(2.12%)
Hindalco Inds. 413.55↑9.30(2.30%)
ICICI Bank 950.70↑10.85(1.15%)
IndusInd Bank 1268.05↑4.65(0.37%)
Infosys 1317.45↑13.10(1.00%)
ITC 443.60↑2.45(0.56%)
JSW Steel 701.70↑5.05(0.72%)
Kotak Mah. Bank 1945.05↑15.10(0.78%)
Larsen & Toubro 2218.45↑13.75(0.62%)
M & M 1281.85↑4.05(0.32%)
Maruti Suzuki 9399.95↑118.10(1.27%)
Nestle India 21581.75↑106.85(0.50%)
NTPC 174.50↓0.00(0.00%)
O N G C 163.75↓-2.25(-1.36%)
Power Grid Corpn 237.30↓-0.65(-0.27%)
Reliance Industr 2506.50↑66.55(2.73%)
SBI Life Insuran 1195.75↑18.40(1.56%)
St Bk of India 586.00↑4.75(0.82%)
Sun Pharma.Inds. 969.90↑24.90(2.63%)
Tata Consumer 789.70↑9.40(1.20%)
Tata Motors 518.45↑3.60(0.70%)
Tata Steel 106.40↑1.55(1.48%)
TCS 3328.90↑35.40(1.07%)
Tech Mahindra 1114.75↑16.65(1.52%)
Titan Company 2742.15↑34.20(1.26%)
UltraTech Cem. 7721.85↑100.10(1.31%)
UPL 688.10↑12.30(1.82%)
Wipro 401.70↑7.60(1.93%)

Exposure to Adani group well below limit, says State Bank of India

Lender says all exposures secured by cash generating assets, and debt service will not be a challenge

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Indian banks have an exposure of around Rs 80,000 crore to the Adani Group, which is 38 per cent of the group’s total debt

3 min read Last Updated : Jan 27 2023 | 11:01 PM IST

The country’s largest lender, State Bank of India, said on Friday that its exposure to the Adani Group was well below the Reserve Bank of India’s (RBI’s) Large Exposure Framework and was secured by cash generating assets.

The statement comes as the Adani Group lost Rs 4.18 trillion in market capitalisation in the last two trading sessions after a report by US-based investment research firm Hindenburg Research alleged that the group was engaged in “a brazen stock manipulation and accounting fraud scheme”. Hindenburg Research alleged that there was 85 per cent downside in group stocks “purely on fundamental valuations”.

The conglomerate had called the report “maliciously mischievous, unresearched”. It has said that it is “evaluating the relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg Research”.