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Adani Power seeks new concessions for struggling East India power plant

Adani Power Ltd. is pursuing new concessions from the Indian government for its $2 billion coal-fired power plant in eastern India. The facility is currently facing financial difficulties due to a backlog of payments from Bangladesh, its sole electricity buyer.

GQG share price falls amid Adani bribery charges and market concerns

GQG Partners' share price has fallen significantly following bribery charges against Gautam Adani and other executives, raising concerns about the firm's investments in Adani Group companies. Despite holding substantial stakes, GQG claims over 90% of client assets are in unrelated issuers. The long-term impact on GQG's reputation and fundraising efforts remains uncertain, prompting a reassessment of their trading strategy.
04:55 28.11.2024

adani group faces escalating legal and financial challenges amid bribery allegations

Adani Group faces escalating challenges as U.S. authorities indict its founder on bribery and fraud charges, leading to a significant selloff in its stocks and bonds. Major partners, including TotalEnergies and the Kenyan government, have halted investments, while the U.S. International Development Finance Corp reviews its agreements with the conglomerate. The situation has prompted scrutiny from Indian regulators and calls for further investigation into the group's financial practices.

Bangladesh committee calls for legal firm to investigate power contracts

A committee appointed by the Bangladesh government is reviewing power generation contracts, including one with India's Adani Power. It has recommended that the interim government engage a global legal firm to conduct a comprehensive and transparent investigation into the agreements made during former Prime Minister Sheikh Hasina's administration.

Zomato to join Sensex replacing JSW Steel from December 23

Zomato will replace JSW Steel in the Sensex index starting December 23, as announced by BSE. Additionally, several changes will occur in other indices, with companies like Ashok Leyland and IDFC First Bank being dropped from BSE 100, while Jio Financial Services and others will be added. In the BSE SENSEX 50, HDFC Life, BPCL, and LTI Mindtree will be replaced by Zomato, Jio Financial, and HAL.

Adani Group faces 2.2 lakh crore loss amid US bribery allegations

Adani Group's market capitalization plummeted by Rs 2.2 lakh crore on November 21, with stocks falling up to 20% following US bribery charges against Gautam Adani. Prosecutors allege he and other executives paid over $250 million in bribes to secure solar energy contracts, violating federal laws while raising $1.36 billion from American investors. Just hours before the allegations, Adani raised an additional $600 million through green dollar bonds from US investors.

european markets expected to open higher amid inflation concerns and earnings reports

European stocks are poised for a slight increase amid mixed market sentiment, following Nvidia's disappointing earnings forecast that impacted Asian semiconductor stocks. Meanwhile, shares of India's Adani Group plummeted after its chairman faced federal bribery charges, with significant losses across its companies. Concerns over stretched market valuations and inflation persist, as Federal Reserve officials express caution regarding economic stability.

adani group shares plunge after chairman charged with fraud in new york

Shares of Adani Group plummeted after chairman Gautam Adani was indicted in a New York federal court for allegedly orchestrating a $250 million bribery scheme to secure solar energy contracts. Adani Enterprises fell 10%, while Adani Green Energy dropped 17.28%. The indictment also implicated two executives from Adani Green Energy and several former employees of Azure Power Global, amid ongoing scrutiny following previous allegations of accounting fraud by Hindenburg Research.

bangladesh struggles with power shortages despite partial payment to adani power

Bangladesh is grappling with ongoing electricity shortages and the threat of blackouts, despite a $170 million partial payment to Adani Power Ltd. This payment has alleviated some pressure from lenders, but the crisis remains unresolved as discussions continue regarding the Godda thermal plant's supply.

Adani Power threatens to cut electricity supply to Bangladesh over unpaid dues

Adani Power Jharkhand Limited has warned Bangladesh that it will cut electricity supply if outstanding dues of nearly $850 million are not settled by November 7. The company has already halved its power output, leading to a shortfall of over 1,600 megawatts, due to unpaid bills. Despite the Bangladesh Power Development Board making weekly payments, the total charges have exceeded payments, resulting in accumulating debts.
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