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Adani Enterprises, Adani Green, Adani Power, Adani Total Gas: Adani stocks in news. Here's why

Adani Enterprises, Adani Green, Adani Power, Adani Total Gas: Adani stocks in news. Here's why

Adani shares: A media report suggested the ED has investigated links of a domestic private lender and 15 other entities in the case relating to short selling of Adani group shares earlier this year.

Amit Mudgill
Amit Mudgill
  • Updated Aug 30, 2023 9:01 AM IST
Adani Enterprises, Adani Green, Adani Power, Adani Total Gas: Adani stocks in news. Here's whyAdani stocks: As per the report, Sebi can register criminal case against any entity, if found involved in any suspicious act that has the potential to undermine fair legal practices.
SUMMARY
  • Sebi is investigating short selling positions taken by entities in the run up to Hindenburg report.
  • SC on Tuesday postponed the hearing in the Adani-Hindenburg case regarding the status report.
  • The Sebi probe document encompasses a total of 24 investigations related to Adani group’s activities.

Adani group stocks such as Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Power Ltd, Adani Total Gas Ltd, Adani Wilmar Ltd and Adani Energy Solutions Ltd, will be in focus on Wednesday morning amid a media report that suggested the ED has investigated links of a domestic private lender and 15 other entities, including foreign portfolio investors, whose beneficial ownership is not yet known, in the case relating to short selling of Adani group shares earlier this year.

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Sebi is investigating the suspicious short selling positions taken by some entities in the run up to Hindenburg Research report on January 24 that erased $150 billion wealth from Adani group stocks later.

As per the Times of India report, Sebi can register criminal case against any entity, if found involved in any suspicious act that has the potential to undermine fair legal practices.    

The Supreme Court  on Tuesday postponed the hearing in the Adani-Hindenburg case regarding the status report submitted by capital markets watchdog Securities and Exchange Board of India (Sebi), as the Chief Justice of India-led constitution bench continued hearing pleas challenging the abrogation of Article 370. On August 25, Sebi submitted its status report on the investigation into the allegations made by short-seller Hindenburg Research in its January report against the port-to-energy conglomerate.

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The content of the Sebi report has not been made public so far. However various reports said that Sebi's probe document would shed light on the progress of the extensive probe, which encompasses a total of 24 investigations related to various aspects of the Adani conglomerate's activities.

Initially, Sebi was asked to submit its investigation report by August 14. However, the capital markets regulator asked for a 15-day extension and submitted its status report on August 25.

 

Also read: Stocks to watch on August 30, 2023: CMS Info Systems, Tanla Platforms, LTIMindtree, Vedanta, others

Also read: Rishabh Instruments IPO, Super Rare Blue Moon, Raksha Bandhan in Top News on August 30: Nifty, Bank Nifty, Crude oil outlook, Asia Cup kicks off

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Also read: Raksha Bandhan Holiday 2023: Is Indian stock market open today? Check details of BSE, NSE trading holidays

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Aug 30, 2023 8:38 AM IST
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