Adani slammed by $48 billion stock rout, clouding record share sale; 6 analysts have this to say

Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam Adani - have lost a combined $48 billion in market capitalisation since Wednesday, with U.S. bonds of Adani firms also falling after Hindenburg Research flagged concerns in a Jan. 24 report about debt levels and the use of tax havens.

Gautam Adani: Asia's richest man in the eye of a storm

Adani, whose home state is Gujarat in western India, built his business empire from scratch after starting as a commodities trader. India's Prime Minister Narendra Modi hails from the same state and their relationship has come under intense scrutiny by Modi's opponents for years.

More trouble for Adani? MSCI seeks feedback on Adani Group over Hindenburg report

Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam Adani - have lost a combined $48 billion in market value and U.S. bonds of Adani firms have fallen since Hindenburg on Tuesday flagged concerns about debt levels and the use of tax havens.

Bajaj Finance logs highest-ever quarterly net profit at ₹2,973 crore

The Pune-based non-banking lender said its core net interest income rose 28 per cent to ₹7,435 crore on-year during the reporting quarter, aided by a higher 28 per cent jump in the key profitability metric net interest income.

Aditya Birla Sun Life AMC Q3 PAT drops 11% to ₹166 crore

ABSL AMC is the fourth largest asset management company in India with quarterly average assets under management of ₹2.82 lakh crore.

US inflation and consumer spending cooled in December

Weekend Wrap: From Adani Enterprises to Tata Motors; Top news and market movers this week: 27 January 2023

<ul><li>From top newsmakers to market performance, here's the market wrap for the week ended 27 January 2023.</li></ul>

Adani Enterprises FPO sees muted response on Day 1; only 1% of overall issue subscribed

<ul><li>The company received bids for 4,70,160 shares against 4,55,06,791 shares on offer, according to data from the BSE.</li></ul>

Oil prices firm on upbeat US economic data

<ul><li>Brent futures gained $1.17, or 1.34%, to trade at $88.64 a barrel by 1332 GMT. U.S. crude was up $1.17, or 1.44%, at $82.18 and on track for its highest daily jump in percentage terms for two weeks.</li></ul>

<ul><li>Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from the 5.5% year-over-year increase in November. It was the third straight drop.</li></ul>

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Adani slammed by $48 billion stock rout, clouding record share sale; 6 analysts have this to say

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