Adani Group Plans: Adani Group of the country's second richest industrialist Gautam Adani is planning to invest Rs 7 lakh crore i.e. 84 billion dollars in strengthening the infrastructure in the country in the next decade. According to Bloomberg report, Chief Financial Officer of Adani Group Jugeshinder Singh said, we are planning to invest more. However, he refused to say anything more on this subject.
In January 2023 this year, American shortseller Hindenburg Research had released its report accusing Adani Group of driving away the shares by rigging them. After which there was a big fall in the stocks of Adani Group. However, Adani Group had completely rejected these allegations. But due to these allegations, there was a huge decline in the image of Adani Group and the market cap of the listed stocks of the group. The FPO of its flagship company Adani Enterprises also had to be withdrawn. After the blow to the group's image due to these allegations, Adani Group has prepared a strategy to make big investments to compensate for the losses.
After Hindenburg's allegations, the matter reached the Supreme Court. The court ordered stock market regulator SEBI to investigate. SEBI has submitted its investigation report to the court. The court has reserved its decision after completing the hearing. SEBI told the court that it does not need more time to complete the investigation. After this news came out, there was a strong rise in the shares of Adani Group on Tuesday 28 November. There was a jump of more than Rs 1 lakh crore in the market cap of the group in a single day, which was the highest after January 2023.
While addressing the shareholders in July 2023, Group Chairman Gautam Adani had announced the large-scale expansion of Ports, Energy and Infrastructure business. Adani Group got the biggest relief when the US Government's Development Agency announced financial assistance for Adani Group's port project in Sri Lanka."text-align: justify;">Read this also
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