Riding a virtual clean chit from a Supreme Court-appointed committee and confident about having regained the faith of investors, his conglomerate now wants to raise much-needed capital. Will it work?
On Monday, the Adani group’s market valuation went past Rs 10 lakh crore, the first time since 14 February. Though it’s still some way off the January peak of Rs 19 lakh crore, it was the group’s best day on the markets since the adverse report by US-based Hindenburg Research dropped in the last week of that month.
The immediate spark for the rally was a report by a six-member committee set up by the Supreme Court that found nothing to implicate the group on the events triggered by charges that the short seller levelled. We had written about the …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai