Adani Enterp. 2508.45↑15.10(0.61%)
Adani Ports 734.60↓-4.25(-0.58%)
Apollo Hospitals 4804.65↑182.70(3.95%)
Asian Paints 3236.60↑43.65(1.37%)
Axis Bank 924.90↑10.05(1.10%)
B P C L 366.85↑3.35(0.92%)
Bajaj Auto 4652.15↑85.00(1.86%)
Bajaj Finance 7028.55↑38.70(0.55%)
Bajaj Finserv 1454.50↑3.45(0.24%)
Bharti Airtel 827.70↓-22.20(-2.61%)
Britannia Inds. 4622.45↓-34.60(-0.74%)
Cipla 955.05↑2.00(0.21%)
Coal India 230.05↓-11.20(-4.64%)
Divi's Lab. 3553.50↑109.90(3.19%)
Dr Reddy's Labs 4544.90↑43.85(0.97%)
Eicher Motors 3718.80↑46.85(1.28%)
Grasim Inds 1715.75↓-2.60(-0.15%)
H D F C 2662.00↑21.60(0.82%)
HCL Technologies 1139.50↓-5.60(-0.49%)
HDFC Bank 1616.05↑5.20(0.32%)
HDFC Life Insur. 587.65↓-4.70(-0.79%)
Hero Motocorp 2801.20↑41.30(1.50%)
Hind. Unilever 2715.55↑48.00(1.80%)
Hindalco Inds. 408.40↑2.50(0.62%)
ICICI Bank 951.00↑1.85(0.19%)
IndusInd Bank 1292.75↑6.15(0.48%)
Infosys 1324.10↑5.80(0.44%)
ITC 442.75↓-2.75(-0.62%)
JSW Steel 694.70↓-1.60(-0.23%)
Kotak Mah. Bank 1935.50↓-78.85(-3.91%)
Larsen & Toubro 2213.50↑7.85(0.36%)
M & M 1335.60↑16.60(1.26%)
Maruti Suzuki 9261.10↓-106.60(-1.14%)
Nestle India 21850.00↑176.90(0.82%)
NTPC 174.20↑0.35(0.20%)
O N G C 154.50↓-0.40(-0.26%)
Power Grid Corpn 233.60↓-0.25(-0.11%)
Reliance Industr 2475.65↑5.75(0.23%)
SBI Life Insuran 1226.40↓-8.60(-0.70%)
St Bk of India 584.95↑5.10(0.88%)
Sun Pharma.Inds. 980.70↑5.35(0.55%)
Tata Consumer 800.35↑1.70(0.21%)
Tata Motors 529.30↑3.00(0.57%)
Tata Steel 106.50↑0.70(0.66%)
TCS 3331.35↑41.85(1.27%)
Tech Mahindra 1124.55↑9.00(0.81%)
Titan Company 2821.50↓-1.75(-0.06%)
UltraTech Cem. 7855.65↓-14.40(-0.18%)
UPL 679.95↓-5.15(-0.75%)
Wipro 407.05↑3.40(0.84%)

A transparency test for Adani

One lesson that the Hindenburg report has hammered home is that big business groups are best served by transparency in their business and financial dealings

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4 min read Last Updated : Jan 31 2023 | 10:01 PM IST

The Hindenburg-Adani fight will take some more time before one can say who won and who lost. The Adani group stocks fell steeply immediately after the Hindenburg report became public. But after that, there are indications that Adani group bulls are fighting a fierce battle against the bears in the Indian stock markets. Its follow-up public offering (FPO) too has managed to scrape through on the final day as expected, despite the lacklustre showing of the first two days.

I would have been surprised if the Adani FPO had not closed successfully. The Adani group has not grown this big without mastering the ability to muster funds and investors when needed. On the other hand, the pressure on equities has ensured that Gautam Adani dropped several rungs in the global rich hierarchy and lost a significant chunk of his notional wealth.

The long-term effect of the Hindenburg report could potentially raise the cost of funds when the Adani group next raises ov

Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www-business-standard-com-nalsar.knimbus.com or the Business Standard newspaper