Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Adani stocks soar as US dubs Hindenburg allegations irrelevant
Business Standard
|December 06, 2023
Value of GQG's investment up 75% at $7.5 billion
The stocks of companies under the Gautam Adani-led group soared on Tuesday as investor confidence was bolstered by a media report stating that the US government did not find short-seller Hindenburg Research's allegations of corporate fraud against the conglomerate relevant before extending a $553 million loan for a container terminal in Sri Lanka. Another key trigger was Adani Green Energy securing a $1.36 billion loan from a consortium of eight international banks.
The group's 11 listed stocks saw gains ranging from 7 per cent to 20 per cent, resulting in a record addition of ₹1.93 trillion to the market cap. The group's market value reached nearly ₹14 trillion, the highest since January 31.
This story is from the December 06, 2023 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Campaigning ends in West Bengal
Amit Shah says central forces to be deployed for 60 days after elections
2 mins
April 28, 2026
Business Standard
Shyam Saran on the power of honest, respectful debate
The media's responsibility to uphold the pursuit of truth through heterodoxy and open debate formed the crux of former foreign secretary Shyam Saran’s keynote address at the Business Standard-Seema Nazareth Award for Excellence in Journalism 2025 in New Delhi on Monday.
3 mins
April 28, 2026
Business Standard
White House to review Prez security
The White House will convene a meeting early this week to discuss safety measures for major events involving President Donald Trump, following Saturday's shooting at the White House Correspondents' Association dinner that spurred fresh scrutiny of security practices.
1 min
April 28, 2026
Business Standard
After Russia, India to operate commercial fast breeder reactors
India will become the second country after Russia to operate a commercial-level fast breeder reactor (FBR), and the development of the indigenously designed 500 megawatt Prototype FBR at Kalpakkam is a major milestone for the country’s nuclear energy programme, Union Minister Jitendra Singh said on Monday.
1 min
April 28, 2026
Business Standard
'No risk of stagflation, underlying economic fundamentals strong'
Ram Singh, an external member of the Reserve Bank of India's (RBI's) Monetary Policy Committee (MPC), who supported dovish pause during the April meeting of the rate-setting panel, says in an interview to Manojit Saha while such a pause cannot fix the supply disruption, it is an effective tool to mitigate a growth sacrifice that would worsen the output gap.
3 mins
April 28, 2026
Business Standard
Noida airport: IndiGo, A-I flag cost, connectivity issues
India’s two major carriers, IndiGo and Air India, have told the Airports Economic Regulatory Authority of India (AERA) that high costs and inadequate public transport connectivity could become major issues at the recently-inaugurated Noida airport, Business Standard has learnt.
2 mins
April 28, 2026
Business Standard
Iran proposes to reopen Hormuz
Araghchi meets Putin; Iran ready for talks without addressing its nuclear programme
2 mins
April 28, 2026
Business Standard
'Media must uphold India's dialogue-driven DNA'
\"If the DNA of India is inherently argumentative, pluralistic and dialogue-driven, then the media as the modern public square must be the true reflection of that DNA,\" former foreign secretary Shyam Saran said in his keynote address at the 26th Business Standard-Seema Nazareth Award for Excellence in Journalism 2025.
1 min
April 28, 2026
Business Standard
Overhauling India’s social security
Employers have quietly absorbed the cost of new labour Codes. Radical reforms of the EPFO and ESI should follow
4 mins
April 28, 2026
Business Standard
Women at work
Safer workplaces will increase women’s participation
2 mins
April 28, 2026
Translate
Change font size