{
}
IHC Capital Holding has divested a $210 million stake in Adani Enterprises, selling over 8.4 million shares amid ongoing legal challenges faced by the Adani Group. The sale represents a 0.73% stake, executed at an average price of ₹2,168.10 per share. This transaction coincides with a federal indictment against Gautam Adani and senior executives for alleged corruption and securities fraud, which has led to significant political and financial repercussions, including project cancellations in Kenya. Despite these challenges, the Adani Group has raised $1.06 billion to refinance debt, indicating efforts to maintain financial stability.
Adani Group has revived its $10 billion investment plans in US infrastructure, targeting sectors like nuclear power and utilities, despite facing legal challenges, including bribery and fraud charges against founder Gautam Adani. The group's renewed focus aligns with President Trump's policies, potentially creating up to 15,000 jobs in the US. However, the ongoing legal proceedings could impact these investment plans.
Elon Musk leads the list of the world's 24 superbillionaires with a net worth of $419.4 billion, a new category for individuals worth $50 billion or more. This elite group, which includes notable figures like Jeff Bezos and Mukesh Ambani, collectively holds $3.3 trillion, representing over 16% of all billionaire wealth. Among them, only three are women: Julia Koch, Francoise Bettencourt Meyers, and Alice Walton.
Elon Musk has been ranked the world's richest person with a net worth of $419.4 billion, according to a new report. He significantly outpaces other billionaires, including Jeff Bezos at $263.8 billion and Bernard Arnault at $238.9 billion. The report highlights the wealth of 24 individuals, each with substantial real estate holdings.
India's GDP growth slowed to 5.4% for the quarter ending September, the lowest in seven quarters and below the expected 6.5%, driven by reduced urban consumption and rising inflation, particularly in vegetable prices. Despite this, the Nifty 50 index has risen 13.7% this year, and analysts predict a gradual slowdown in growth, with forecasts around 6% for 2025. Concerns remain about investment activity and credit growth, highlighting the need for policy action to mitigate risks.
UBS downgraded GQG Partners from "Buy" to "Neutral," slashing its price target by 30% to AUD2.30 due to anticipated AUD600mn losses in funds under management following the Adani Group's indictment. Despite a strong financial record and diversification into private markets, GQG faces risks from concentrated investments in Adani, which have already led to a 20% drop in share price. The firm plans to expand geographically and has initiated a AUD100mn share buy-back to bolster investor confidence.
GQG Partners, a major investor in Adani Group, experienced a 13% drop in share price following a UBS downgrade, losing A$600 million in value amid US bribery and securities fraud charges against Gautam Adani and associates. The situation has raised concerns over Adani Green Energy's power supply agreement with Andhra Pradesh, which could lead to increased tariffs for consumers if cancelled. Despite the challenges, Adani Group's recent stock performance indicates some investor confidence remains.
Shares in GQG Partners fell 14.04% to $2.02 after UBS downgraded the firm from buy to neutral, citing concerns over its $9.7bn stake in the Adani Group amid bribery allegations against founder Gautam Adani and executives. UBS estimated GQG may have faced $600m in fund outflows following the indictment. Adani Group has denied the allegations, which include conspiracy and securities fraud.
Shares in GQG Partners fell 14.04% to $2.02 following a UBS downgrade amid US bribery charges against Adani founder Gautam Adani and senior executives, who are accused of a $250m scheme to secure solar contracts in India. Despite the allegations, GQG may have seen $600m in fund outflows, while Adani Green Energy's stock rebounded 38.93% after hitting a yearly low.
Shares of GQG Partners, a major investor in Adani Group, plummeted over 15% after UBS downgraded the stock from “buy” to “neutral” and cut its target price from AU$3.30 to AU$2.30. This marks UBS's first downgrade since it began covering GQG in 2022. Following a significant drop after Adani Group Chair Gautam Adani was charged with fraud, GQG is reviewing its investments, noting that over 90% of client assets are in unrelated issuers.
Gautam Adani
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
IHC Capital sells 210 million stake in Adani Enterprises amid legal troubles
06:30 07.03.2025
Adani Group revives ten billion dollar US investment plans amid legal issues
09:59 03.03.2025
worlds top 24 superbillionaires led by elon musk with 419 billion
United States Dollar
Reliance Industries Ltd.
L'Oréal
IND
USA
Michael Bloomberg
Mukesh Ambani
Jeff Bezos
Amancio Ortega
Charles Koch
Prajogo Pangestu
Lawrence Ellison
James Walton
Michael S. Dell
Warren Buffett
Bernard Arnault
Sergey Brin
Julia Koch
Zhong Shanshan
Bill Gates
Steve Ballmer
Gautam Adani
S. Robson Walton
Francoise Bettencourt
Mark Zuckerberg
Lawrence Page
Jensen Huang
Alice Walton
Elon Musk
Show more
08:47 01.03.2025
Elon Musk tops list of world's richest with 419.4 billion dollars
United States Dollar
Nongfu Spring Co. Ltd.
L'Oréal
Dell Technologies Inc.
Reliance Industries Ltd.
Berkshire Hathaway Inc.
FRA
IDN
LUX
IND
USA
GBR
Michael Bloomberg
Larry Ellison
Mukesh Ambani
Jeff Bezos
Amancio Ortega
Charles Koch
Prajogo Pangestu
James Walton
Michael S. Dell
Warren Buffett
Bernard Arnault
Sergey Brin
Julia Koch
Zhong Shanshan
Bill Gates
Steve Ballmer
Gautam Adani
S. Robson Walton
Francoise Bettencourt
Mark Zuckerberg
Lawrence Page
Jensen Huang
Alice Walton
Elon Musk
Show more
18:03 26.02.2025
India Faces Economic Slowdown Amid Rising Inflation and Weak Consumer Demand
Chinese Yuan
United States Dollar
Japanese Yen
Adani Group
GBR
USA
CHN
IND
JPN
Lee Jung-jae
Alicia Garcia Herrero
Chandradeep Kumar
Gautam Adani
Krishna Bhimavarapu
Show more
17:45 05.12.2024
GQG Partners Downgraded Amid Adani Group Indictment and Fund Management Losses
17:07 05.12.2024
Adani Group faces legal challenges as GQG Partners shares plummet
United States Dollar
Australian Dollar
Adani Green Energy Limited
Solar Energy Corporation OF India Ltd.
IND
Jugeshinder Singh
Gautam Adani
09:00 02.12.2024
gqg partners shares drop after ubs downgrade amid adani group scrutiny
Indian Rupee
United States Dollar
Adani Green Energy Limited
GQG Partners Global Equity I JPY Acc
IND
USA
Gautam Adani
08:14 02.12.2024
GQG Partners shares drop amid Adani bribery charges and market turmoil
Indian Rupee
United States Dollar
Adani Green Energy Limited
GQG Partners Global Equity I JPY Acc
IND
Gautam Adani
08:13 02.12.2024
GQG shares drop 15 percent after UBS downgrades stock and target price
Australian Dollar
Adani Enterprises Limited
Adani Green Energy Limited
AUS
USA
IND
Gautam Adani
Rajiv Jain
Show more
05:09 02.12.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Workplace Trends
Retail and Consumer Goods
CEO Changes
Market Analysis and Predictions
Central Bank Actions
Global Trade Developments
Startups & Entrepreneurship
Government Policies
Government Economic Policies
Financial Scams and Security
Domestic Politics
Private Equity Deals
Corporate Social Responsibility
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
UniCredit S.p.A.
Credit Suisse Lux Digital Healt
Deutsche Bank Money Market PP
Bank of America Corporation
Banco BPM S.p.A.
UBS Group AG
BNP Paribas SA
Apple Inc.
The Goldman Sachs Group, Inc.
Commerzbank AG
Wells Fargo & Company
CREDIT AGRICOLE
Banco Santander, S.A.
Lloyds Banking Group plc
Credit Suisse Strategic Income I
Amazon.com, Inc.
SpaceXCoin USD
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Chinese Yuan
Indian Rupee
Japanese Yen
South Korean Won
Danish Krone
Hong Kong Dollar
Australian Dollar
Offshore Chinese Yuan
Singapore Dollar
Canadian Dollar
Mexican Peso
Norwegian Krone
Indonesian Rupiah
Russian Ruble
Chilean Peso
United Arab Emirates Dirham
People: