Adani Group stocks fall; Adani Green Energy declines over 4 pc
New Delhi (PTI): Shares of Adani group stocks fell on Thursday after a report from investigative reporting platform OCCRP alleged hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family of billionaire Gautam Adani.
However, the conglomerate denied the charges vehemently.
On the BSE, the stock of Adani Green Energy nosedived 4.43 per cent to Rs 927.65 apiece, with a market capitalisation of Rs 1.47 lakh crore.
The scrip of Adani Power plunged 3.82 per cent to Rs 315.85, flagship firm Adani Enterprises declined 3.56 per cent to Rs 2,424 and Adani Energy Solutions fell 3.18 per cent to Rs 814.95 apiece on the bourse.
Also, Adani Ports and Special Economic Zone (APSEZ) slipped 2.75 per cent to Rs 796.50, Adani Total Gas dipped 2.74 per cent to Rs 634.60, NDTV fell 2.69 per cent to Rs 213.30 and Adani Wilmar declined 1.83 per cent to Rs 362.20 per piece on the BSE.
Shares of ACC dipped 3.15 per cent to Rs 1,937.10 and Ambuja Cements fell 2.84 per cent to Rs 431.60.
In the morning session, the 30-shares BSE Sensex was trading 38.32 points or 0.06 per cent lower at 65,048.93 points.
The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to USD 150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani Group has denied all Hindenburg allegations.
Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP (Organised Crime and Corruption Reporting Project) said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
The two men, Nasser Ali Shaban Ahli and Chang Chung-Ling, who OCCRP claimed have longtime business ties to the Adani family and have also served as directors and shareholders in Group companies and firms associated with Gautam Adani's elder brother Vinod Adani, "spent years buying and selling Adani stock through offshore structures that obscured their involvement - and made considerable profits in the process."
The documents "show that the management company in charge of their investments paid a Vinod Adani company to advice them in their investment", it alleged.
Adani in a statement categorically rejected what it called as "recycled allegations", calling them "yet another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report".
"These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs. An independent adjudicating authority and an appellate tribunal had both confirmed that there was no over-valuation and that the transactions were in accordance with applicable law. The matter attained finality in March 2023 when the Supreme Court of India ruled in our favour. Clearly, since there was no over-valuation, there is no relevance or foundation for these allegations on transfer of funds," it said.
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Informing Pakistan ahead of Operation Sindoor was a crime: Rahul Gandhi on Jaishankar's 'admission'
New Delhi, May 17 (PTI): Congress leader Rahul Gandhi on Saturday hit out at the government for "informing" Pakistan about targeting terror infrastructure as part of Operation Sindoor, saying it was a crime and asking who had authorised it.
In a post on X, Gandhi questioned External Affairs Minister (EAM) S Jaishankar for publicly admitting that the government of India (GOI) had informed Pakistan of the action and asked how many aircraft the Indian Air Force lost as a result.
"Informing Pakistan at the start of our attack was a crime. EAM has publicly admitted that GOI did it. Who authorised it? How many aircraft did our air force lose as a result?" said Gandhi, the leader of opposition in the Lok Sabha.
He also shared an undated video of Jaishankar saying India had informed Pakistan of the action against terror infrastructure on its soil.
Jaishankar can be heard saying in the video, "At the start of the operation, we had sent a message to Pakistan, saying, 'We are striking at terrorist infrastructure and we are not striking at the military.'"
"So the military has the option of standing out and not interfering in this process. They chose not to take that good advice," the minister can be heard saying in the clip.
The Press Information Bureau (PIB), however, has debunked claims that Jaishankar had said India informed Pakistan ahead of Operation Sindoor. In a post on X, the PIB's Fact Check Unit said the minister had not made any such statement and that he was being misquoted.
Operation Sindoor was the Indian offensive against terror camps in Pakistan and Pakistan-occupied Kashmir (PoK) following the April 22 terror attack in Pahalgam.
Informing Pakistan at the start of our attack was a crime.
— Rahul Gandhi (@RahulGandhi) May 17, 2025
EAM has publicly admitted that GOI did it.
1. Who authorised it?
2. How many aircraft did our airforce lose as a result? pic.twitter.com/KmawLLf4yW
