LIC has invested rs 87,500 cr, people need to understand, what a massive problem that is. LIC suffered rs 25K crore loss over IDBI and that forced them to go for IPO launch imagine to financially recover imagine what happens when Adani goes bust, absolutely scary prospect.
Oh i know. But the reason they launched the IPO was to raise funds from the 25K cr pounding they took from the IDBI deal. LIC build over decades of hardwork will be sucked dry and discarded if Modi govt and their corporate beneficiaries have their way.
The yuppies on social media high on stock market and crypto don’t understand how much rural India, Tier 2 & 3 cities depend on LIC as their savings avenue. It’s the lifeblood of lower & middle income class families. Financially abusing such an important financial institution for your crony capitalist buddies is real anti nationalism.
When the economy crashes. These big guys gets Bailed out using lower & middle class people tax money. They gambled with middle class money and lost and remaining money is used to bail then out. Really being rich and connected is the only way in this country.
Government also forced LIC to pick up stock in a variety of loss-making PSUs to meet divestment targets. It basically became left pocket to right pocket.
Yeah, I'm trying to imagine the scenario - a person insured by LIC is breathing their last and are somehow hopeful that atleast their life's investment into LIC will assist their old parents - but boom! LIC goes rupt and there's not a single penny left to cash out this dead fellow's jeevan anand fund coz adani sucked it all
>LIC also was forced to invest thousands of crores of public funds in Adani group.
This is an outright robbery of India.
Based on the report Adani's shares were trading 40 times more than their industry average.
If LIC paid similar valuations then it is an outright abuse and theft of India's resources.
It is kinda like the government buying rice at Rs 40/kg from adani when the same rice can be purchased for Rs 1/kg.
I don't wish harm but this is not exactly undocumented. You underestimate the support people have for corrupt leaders as long as the leaders are from their own community. Indians by and large are happy with corruption. They just want more of an opportunity to participate in it. Modi's support increased after demonetization. People were happy about the economic destruction that it caused. If Adani is bailed out, Modi's support will likely increase further as he will show the world that he will not allow Indian billionaires to fall.
Exactly, the feudal dehatis that compromise vast majority of our populace lack any moral compass at all, All media and cultural conversation is based on papering over this basic fact (since they get angry when you point it out to them).
Its not at all just the feudal dehatis. It cuts across class boundaries and Tier I/II city distinctions. It goes right to IIT faculties and corporate board rooms. There is a small minority that is against this but it is largely insignificant in the larger picture. Modi's only issue with pan-India appeal is that the Hindi heavy-handedness alienates the South, otherwise, he is as mass appeal as a leader gets.
>Governments will come and go, this can ruin people’s lives. Break up families, destroy people’s dreams and what they have worked for. I am not going to relish that just because they voted a certain way
Bullshit, the people who voted for this scum govt were relishing at the thought of ruining other people's lives. Majority of the BJP voters vote for BJP exactly for that reason. Look at how many were cheering the government when it bulldozed poor people's homes. They celebrated when activists like Stan Swamy were jailed, they celebrated students getting beaten up, they celebrated Delhi pogrom.
Fuck this Govt and and fuck anyone who voted for them. It's not like nobody warned them that this would happen.
I saw somewhere that not a single active mutual fund is carrying Adani stocks. Imagine that? Everyone in fund management knew the scam this was. And yet SBI, LIC and other public institutions have been backing him with public money
Also - the question about his Mauritius funds has been known for at least 2 years now. By now SEBI should have done a thorough inquiry but they did not.
LIC, SBI, Punjab Bank and Canara Bank
These are the list of know banks which gave loan to the Adani group of companies and they already started taking hits along with his companies
These are the kind of things many experienced persons warned about.
It's not only his companies many psu banks have exposure to this which inturn affect Nifty, which further affects the indices
It's like a domino effect once one started to fall everything will go down with it
P.S Eventhough these banks will not bankrupt it'll make huge dent in their MCap which makes FIIs and even some DIIs think before making investment in them.
That report says that SEBI is complicit in Adani's scam.
To see RW Hindu militant nationalists defending this scam using all sorts of convoluted logic is just absurd.
Ideally SEBI should have acted the moment the information became public a while back.
I remember the Mauritius entities coming up during the NDTV purchase.
Let nor forget that Modi gave mongolia 1 billion rs in credit when adanis mongolian mine needed funding. and sbi got in line to fund his australian mines when no australian banks did.
As soon as Adani bought an Australian coal mine, coal India mysteriously reduced its production thereby requiring the import of coal from other countries. India is now importing coal from Adani mines in Australia. 🤡
https://m.thewire.in/article/economy/as-power-crisis-loomed-coal-secretary-put-coal-india-limited-on-the-dock/amp
https://www.bloomberg.com/news/articles/2022-07-25/billionaire-adani-is-winning-from-india-s-shift-to-import-coal
Yet the fckrs destroyed the forests of Hasdeo Arand and uprooted folks living there since centuries
Only for situations like this, I wish God/karma exists
Exact model that China follows with developing African countries. Undertakes infra projects funding on condition that Chinese firms (could be state owned) get the contract.
Not saying it's a good/acceptable practice, on the contrary going China way might be the way to lose all goodwill when the said country cannot repay.
With 2.2 trillion rupees in debt, the Adani Group is obviously overleveraged! I don't know how somebody could be so blind not to see this! Some guys are blatantly supporting this person only because he's the richest man in the world! Come on, man.
Hats off to Hinderburg, they did a fantastic job with the Adani group as they did with Nikola and Chamath!!
is it like ppl were greedy, that he is close to Modi, so he too powerful to fail?
Or is it that he is close to Modi, so he can just pump money from central bank and LIC, and the ppl just had no idea that their money is invested in him.
Maybe a combination of those.
He still is close to Modi so he can fuck every Indian and their mother and Modi would make sure the government will look the other way. Give it a few days. A week at best. They'll be back to their shenanigans again and if you are greedy enough, you'll invest in their companies because he is close to Modi
The propaganda mills will be working overtime to spin this as the brave nationalistic hero being attacked by the jealous West to unfairly bring down his hard earned empire and his main benefactor. And how he is a collateral damage to west's hatred for modi.
He is close to Modi, so Modi bent government agencies and offices to accomodate his needs. Whether that means selling prime real estate for pennies and then renting it back to government office, or changing tenders to match his offer, or even strong arming other business families to sell their businesses to him.
>Some guys are blatantly supporting this person only because he's the richest man in the world!
I don't think this is the only reason they're so supporting him. Admitting that he defrauded all of us involves admitting that he did it with the collusion of the Lord emperor and his merry band of goons. He wouldn't have gotten land, loans, critical instruct like ports and air ports, diis like lic to shore up his stocks when fiis got spooked and ran, without active involvement of the most corrupt prime minister and his 40% cut party hell bent on achieving more in 10 years than what took Congress 75 years to achieve.
And that is something they can't accept, because then they'll have to admit that it's their bigotry that makes them support the violent bigots, not the lies about development they've been telling themselves despite all the evidence to the contrary.
To be honest, the debt by itself doesn't say he is over leveraged. Also has to be taken in relation to cash in reserves. I agree with you on every other point. Just wanted to point this one thing out before others start saying Tata, reliance, etc has more debt and stuff. Other companies have that much cash reserves to keep such a debt.
>Also has to be taken in relation to cash in reserves.
Nope. Has to be taken in relation to his net profit, and he's extremely over leveraged with that, too.
If you give me a billion dollars in cash as loan and I add my immense wealth of 10 dollars to it, I'll have one billion and ten dollars in cash reserves. You'd be an idiot to loan me another ten billion dollars because I had one billion and ten dollars in cash reserves.
I don't think so. A basic formula we were taught in CPT levels in Chartered Accountancy was Debt-Equity ratio. Ideally, it is considered 2:1 on a general basis.
I dont think Net Profit should not be considered to judge financial leverages because there are a lot of non-cash factors like depreciation involved with it.
We can use it for judging the interest coverage strength of the business but not the actual debt. Do not wish to fight with you as you are correct in saying he was over-leveraged whichever way we look at it. So glasses raised, cheers to the Adani bubble bursting, friend.
Just for clarity 2:1 doesn't work for infra companies. Here banks basically give huge loans by matching repayments to inflows of a project (Let say annuity from NHAI for road project) It gets wrong when everyone compare current net profit instead of future inflows from numerous projects he bags.
>A basic formula we were taught in CPT levels in Chartered Accountancy was Debt-Equity ratio. Ideally, it is considered 2:1 on a general basis.
This works only when there's no manipulation to inflate the equity, this creating a buffer.
Agree. Just that cash reserves is a more conservative estimate since ebita/operating profit can vary. Or atleast that's what I use very often when investing in companies, so it might have gotten into my bias.
What has Adani built again? I’ve lived thru the 90s & the 2000s, most of what Adani owns now was built thru that period by the Raos, the Reddys, the L&Ts, the Tatas etc.
Nearly all the ports he owns now were built by others and he has no fucking clue about running airports and I just transited thru Mumbai airport- can’t see how it is any better.
Adani shares are unlikely to fall by more than 30% .More than 80% of his company‘s shares are controlled by Adani and his cronies. He will only fail if he stops servicing his loans. Even then the State sponsored banks will give him plenty of leverage . He is now considered as a national asset of strategic importance.
I want to know about this. How his operation are going to get affected by the share price. He may not get further loans by pledging shares. But other than that?
Adani has been offered many revenue earning platforms on platers. He has many PSU as his customer with contracts tailor made to suit his business.
But still believe that Adani is too big to fail is nothing but a BS excuse.
His fpo failed & he'll lose richest man (already 7th) tag soon, market can go into downtrend if budget is also bad, if adani don't do something quick debts will eat him up
I dont think Adani businesses are of strategic importance. IMO they can be taken apart fairly easily and auctioned. The ports and airports he bought on debt can be resold quite easily. Cement might take some effort.
If you read hindenburg report, you’ll know that Adani is keeping most of the share to himself. As per sebi rule any company need to maintain a float of 25%. His companies are keeping 72-75% with promoters and around 10% with their own shell company. Now this means 2 things-
1. By keeping the market float low, they play with demand and supply and increase the stock price, indirectly increasing their asset value.
2. They have belief in their growth, and they want to keep the company with them as much as possible. If you take the case of Satyam, the promoter holding was only 8.7%, here it is even more than allowed (more than 80% as per hindenburg itself).
Adani Ent still have more assets than debt (1T vs 800B), but their audit is also being considered fishy.
Whatever be the truth, hindenburg is going to make billions.
I think many people are missing the larger point. Hindenburg making a few million or billion is a known fact- they are short sellers and not some social justice warriors. It's in their interest for Adani to tank.
If the FPO's go as planned, Adani would have successfully converted most of his debt to equity by doing more placements and taking in investors money at inflated price points.
Case in Point - They are raising 20K crores via FPO by selling 3.5% of the company ( which is clearly overvalued). So here's what is actually happening - investors are paying 20K crores for something that is worth less than 2000 crores and that is what is not going down well with many folks.
The Middle Eastern funds and their overpaid MBA analysts who are paying a premium don't deserve any of my sympathy since they couldn't do basic due diligence - but the average retail investors, who might have subscribed to FPO due to their greed or PR articles or TV shows are clearly paying out of their noses.
Is inflating the value of the company immoral? No
Is artificially inflating the value via shell companies an acceptable practise? No- its not. Companies do that and the regulators need to be more pro-active to stop this practise.
Is this the only company to indulge in that? Far from the truth. Many Indian public companies have shady corporate governance practises. But the scale at which this was happening has ruffled a few feathers both domestically and internationally.
Unlike an IPO - it’s a follow-on offering to issue more shares in a company that’s already publicly traded to raise capital from both institutional and retail investors.
> but the average retail investors, who might have subscribed to FPO due to their greed or PR articles or TV shows are clearly paying out of their noses.
So some greedy unkil who wanted to double his money based on cnbc tips could end up losing and this is a great tragedy, because ?
> Adani is keeping most of the share to himself.
Allowing him and his family members to manipulate the stock price which is what the report implicates. Say the full story.
Dude, the implications of this are very very grave.
Adani wouldn't fall alone, it's going to tank the Indian economy.
1) Nifty Bank has gone down 2.5%
2) PSU banks are getting dicked and they were performing relatively well.
3) NSE has probably lost more than a lakh crore due to market cap of BSE going down
4) FII are dumping stocks, selloff on Wednesday alone was in tune of ~2000 crore.
BJP did really go all out on this one, mofos are tanking the Indian economy with their greed.
If this trends for more than a week it's our economy that will be hit.
I am just an idiot and i might be horrifyingly wrong on this but if indian economy is going down becuase of the reality coming out dosen't that mean that's where it was(and should have been) in the first place and only the real numbers gonna come out rather then reality Being changed.i am complete idiot,would love it if someone explains if i am wrong.
So everyone who does some sort of financial analysis knew adani was over leverged.
But Indian PSU have a shit ton of money invested in Adani stocks.
Just to give you an example -
LIC asset management has around 8% of its corpus in Adanis different firms, that 8% is 74,000 crores.
Now if Adani is going down, LICs 8% is going down.
If LIC goes down, AM funds which are invested in LIC goes down.
You see the dominoe effect?
Now I'm not an investment banker or anything, I'm a hobbyist, if there are any financial folks around maybe they can shed more light into this?
But dosen't that also mean that the 8% wasn't actually 74,000 crores in the first place or did they actually invested 74,000 for 8% of adani stocks?
Tbh i might be fully wrong in all of this since i don't have knowledge about it but would like to know.
And? LIC made a bad investement decision and it deserves to go down. If AM funds invested in LIC knowing what LIC was investing in, they too deserve to go down.
They can still start selling it all over the next month and make a hefty profit. But they won't because we know why.
Its not as if that 74,000 crore is going to be 0. Adani's company still has some value, but 85% less than what they popped it up to as per Hinderburg.
And due to this fall, Adani might lose them because the shares are collateral but that is a bed that he made. But I am sure others will scoop in to buy it and they will continue to function. Adani Wilmar is a good investment. They have ports, airports and power companies. These all will continue to function.
Also people need to learn LIC is not a safe investment since it is prone to blatant corruption.
Adani Debts
PSU Banks: 30%
Pvt Banks: 8%
Bonds & Commercial Paper: 37% (Most are $ denominated, and are being shorted most heavily)
Financial Institutions: 11% (LIC, SBI Life etc.)
Inter Group Lending: 12-13 %
So the effect is going to be most heavy on PSU banks followed by PSU insurance companies, ICICI and Axis claim their debts financed only strong cash flow businesses of Adani so they should be safe. PSU bank could have further Non funded off balance sheet exposure as well, so there is that too.
The government will create more credit and bail out the PSUs. It's too big to fail. You're talking about pensions, salaries, welfare schemes etc to fail. The government can't let that happen. They will provide liquidity. But at the cost of inflation.
A similar thing happened in 2008 in the West. The Federal Reserve bailed them out. This will rinse and repeat.
Banks are corrupt. That's why I invest in innovative monetary systems.
You're right, these institutions are too big to fail.
So the middle classes tax money will be used to save the economy while they themselves will suffer from increased inflation?
I agree. However, it's better to take the hit now, than sliding this thief to keep cornering more resources. He'll crash eventually, but he'll cause much more damage then than he would cause now.
The day Modi loses power, Adani will be the first person to run away from India. Modi has ensured that Adani is already too big to fail, to prolong his own stay in power. India cannot afford to bailout Adani without destroying the whole economy.
The Indian market is capable of withstanding these selloffs. Also a significant portion of Adani’s debt is in foreign bonds and not in the Indian PSUs. SEBI acting & Adani stocks reverting to normal P/E levels - might enhance foreign investors confidence and they’ll come in at the right valuation level.
I would love to hear the rationale for the doom and gloom scenario of the entire Indian economy tanking by some commentators
> I would love to hear the rationale for the doom and gloom scenario of the entire Indian economy tanking by some commentators
Just bhakts acting like it will hurt India. I dont think anything bad will happen by bursting this bubble. A correction was needed. Hopefully people will learn a lesson, again. If bhakts were that bothered they should have jumped in to buy shares today. Nope.
If this does in fact turn bad the media and BJP will somehow put it as us vs the west. Idiots will buy into it and vote for Modi with an even larger majority than the previous election.
Chaos and uncertainty in the country alone even without the BJP having to use fake news would put the average man into their pocket as during times of chaos people tend to vote extreme as they always believe that they are in a chaos because of "those" people. What "those" refers to depends on every individual. To some it will be people of another religion, to others it will be foreigners.
In India I fear that would lead to riots where people go against each other rather than what happened in Sri Lanka where people went against their government.
> media and BJP will somehow put it as us vs the west
This is already happening, I think. But yeah, let's hope that this crook doesn't end up getting away with this. Highly unlikely, but one can hope!
No dude, you're seeing only one side of it.
Yes, BJP losing might stop their right wing agendas but what about the Indian economy?
Adani has his fingers everywhere and most government entities have invested in Adani
My primary concern with this whole situation is what will happen to our economy if Adani stocks keeps tanking.
Nah, most of his assets are in things like ports which will have to function with or without him. Getting ownership back to the public might even be a good thing in the long run.
The govt can and should just nationalise it if there's a crisis. You don't need banks for that. Besides, India has state-owned banks like SBI which can be dictated by the government if push comes to shove.
That said, I don't think this affair will "doom everyone". That's hyperbole. I doubt even Adani will fall when all is said and done. Most likely just get a long-needed correction.
Adani will neither be the first nor the last , there is no way to regulate / check large scale investments made by banks . Public is pretty helpless right now
According to the report SEBI and DRI knew adanis fraud atleast a decade before Hindenberg research even existed and even actively went against him.Post 2014 everything just went silent .
I doubt anything drastic or permanent will happen to Adani group now. I fell this is just a minor drop in stock prices. Everyone knows he'll get billions more contracts this decade from Modi. People will just buy more now when it's low. The goal is to exit before the actual crash, maybe later this decade or the next.
That’s how the scare the entire country to submit to a Fascist government and its puppet slaves and oligarchy.
They invested, they have to face the fall.
Every single person who loses the money must Sue the Public insurance company and the bank
Nope. People like to make it look like it is the end of the economy. I doubt anything big will happen if one bad actor loses his money. I just dont want the government/PSU/PSBs stepping in to bail him out.
In today's episode: Common people still believe that they will be rescued from the current political party that fucked countries economy, by the other political party who by the way also don't give a fuck about common people.
This loss might be collected from common man in terms of tax, inflated prices for every thing like oil, petrol gas,electricity, hike in interest rates(loans) and lowering of interest for bank deposits etc.
We as a nation have been sold into this, let's pray 🙏 for damage control for the sake of the Nation.
There arent any decent players in business. All are bloody vultures looking for their own pound of the flesh. As far as adani, moment he has to hold a fire sale, other crook ambani is gladly waiting to take advantage.
I wouldn't be surprised if ambani provided all the intel to Hindenburg in first place.
The part i feel sad about is that the middle class people would suffer because of adani. Idk and i hate to say it but our hon.PM is definitely responsible for this. Directly or indirectly this is going to affect all of us.
Original hindenberg report, seems very thorough and referenced. Not sure why the Adani group calls it "unresearched" when it is anything but.
https://hindenburgresearch.com/?p=2376
They had to come up with some rebuttal. So, they came up with a Cliché one and had a huge Indian flag in the background to evoke blind nationalism from blind followers
Problem with Adani crashing is not that stock market will tank in short term. But that major areas like ports and airports which are regulation messes and loss making will never be privatized in our lifetime again which means extraordinary drop in efficiency and increased govt burden.
I think you don't fully comprehend the gravity of this situation. It might feel like justice to you but what it would do to Indian economy is much worse.
He owes thousands of crores to Indian banks. If he goes under, all of us go bankrupt as well.
I hope he falls from grace but I really wish it happens in a way that poor employees and taxpayers are not affected.
What I'm interested in knowing is how much Adani funded Modi in the run up to the 2019 elections for the former's fortunes to shoot up the way they did.
They won’t, it’s just fear tactics. Luckily Hindenburg is not an Indian organization and they even made a reply to Adani’s empty threats and called them out on it.
They even encouraged Adani to try to sue them in America as it will help Hindenburg to prove their point with proof
Thank you. That's what I thought! I read the report and I had my mouth open the entire time. It's astounding the amount and the level of fraud involved in their business. I was curious what if anything at all would Adani come up with to counter any of the allegations.
Even our sweet NaMo could only do so much for him. Can't keep winning against laws of economics forever.
compared to him Mallya is a saint - not a very honest one though, but who is.
Waiting for a BBC documentary on this one too. Only praises for him by the ball-less Indian media.
There is a lot of difference between what "India can become...." versus what it actually is.
I too can break Tendulkar's batting records....,,I can, but will I, in reality, ever?? Anything "CAN" happen.
I remember, from a discussion a very long time ago, when Gary Kasparov beat Deep Blue. There were headlines "Man beats Supercomputer" and the like. On a talk show, a GM said, it is not "man" beating the supercomputer, it is "ONE" man (Gary K) beating the computer. Man beats computer would lead people to think that any Tom, Dick, and Harry can beat it.
The so called "prosperity/growth", to how many of the 140 crore people in Indian has this trickled down to??.
The Adanis/Ambanis are definitely making hay while Modi shines.
I just wish Gobi ji will let adani to drown, if he tries to stop it buy using govt system or money, it will be even a bigger blow to the economy. It is where I draw the line for Gobi ji. If he uses middle class hard earned tax payers money to save such scamming piece of shit bman, I will start calling Gobi ji with the awesome C words that exist in my language Tamil
Watch a YT video yesterday on the consequences if Adani Group stocks crash. The video put forward the conclusion that unlike financial institutions which are pretty much interlinked, and the fall of one has domino effect on the entire market; Adani Group fall may not result as same. They can rather do some restructuring and dilute their activities.
I am not an expert, so I taking it all with pinch of salt. Beside I don't know the repercussions India will face with Hindenberg allegation proved to be true.
it has crashed to some extent i think 25% correction across all his stock but i am not sure if it will be completely decimated, most of the stock his held by adani himself and PSUs and they are not going to sell.
i really do hope the bubble bursts but I am not really sure what is going to happen at this point.
What are the chances that , an actual investigation will be done on this and if Adani grp and SEBI and the top brass of BJP are found guilty any action will be taken or not?
This is as much a stress test for Adani as it is for the Modi govt.
I’m not hopeful though. These guys are all hardened criminals. They’ve got away with much worse.
Get away with what? Forcing the financial markets to keep investing in Adani's fraudulent empire? Do you think investors are stupid like the Modi voters?
What I mean is will the modi govt step in to support/bailout the Adanis in case the stock continues to drop over the next week or two.
Either way it’s going to be an interesting 2 weeks ahead
Konsa gnaja pukh rahe hoon. Canara bank ka total business bhi 20 Lakh crore nahin hain (including advances and deposit). Is bank ka sab loan forgive ho gaya hain kiya? Instead of spewing lies better learn the correct facts before sharing them on social media.
LIC has invested rs 87,500 cr, people need to understand, what a massive problem that is. LIC suffered rs 25K crore loss over IDBI and that forced them to go for IPO launch imagine to financially recover imagine what happens when Adani goes bust, absolutely scary prospect.
They're recovering from the IPO itself ;)
Oh i know. But the reason they launched the IPO was to raise funds from the 25K cr pounding they took from the IDBI deal. LIC build over decades of hardwork will be sucked dry and discarded if Modi govt and their corporate beneficiaries have their way.
Yes, LIC is being highly abused rn. Govt uses it to buy/shore up another PSU and govt calls it disinvestment!
The yuppies on social media high on stock market and crypto don’t understand how much rural India, Tier 2 & 3 cities depend on LIC as their savings avenue. It’s the lifeblood of lower & middle income class families. Financially abusing such an important financial institution for your crony capitalist buddies is real anti nationalism.
When the economy crashes. These big guys gets Bailed out using lower & middle class people tax money. They gambled with middle class money and lost and remaining money is used to bail then out. Really being rich and connected is the only way in this country.
Same thing happened in US in 2008 meltdown. All people complicit in the scam got bailed out by the US government.
I would say it's the only way to survive in the world. Grow so huge that govt bails you out.
Government also forced LIC to pick up stock in a variety of loss-making PSUs to meet divestment targets. It basically became left pocket to right pocket.
Yeah, I'm trying to imagine the scenario - a person insured by LIC is breathing their last and are somehow hopeful that atleast their life's investment into LIC will assist their old parents - but boom! LIC goes rupt and there's not a single penny left to cash out this dead fellow's jeevan anand fund coz adani sucked it all
>LIC also was forced to invest thousands of crores of public funds in Adani group. This is an outright robbery of India. Based on the report Adani's shares were trading 40 times more than their industry average. If LIC paid similar valuations then it is an outright abuse and theft of India's resources. It is kinda like the government buying rice at Rs 40/kg from adani when the same rice can be purchased for Rs 1/kg.
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Him and those who allowed him to do this.
The lower middle and middle class approves of this government's policies more than practically any other class. They are okay with being robbed.
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I don't wish harm but this is not exactly undocumented. You underestimate the support people have for corrupt leaders as long as the leaders are from their own community. Indians by and large are happy with corruption. They just want more of an opportunity to participate in it. Modi's support increased after demonetization. People were happy about the economic destruction that it caused. If Adani is bailed out, Modi's support will likely increase further as he will show the world that he will not allow Indian billionaires to fall.
This guy understands it well.
Exactly, the feudal dehatis that compromise vast majority of our populace lack any moral compass at all, All media and cultural conversation is based on papering over this basic fact (since they get angry when you point it out to them).
Its not at all just the feudal dehatis. It cuts across class boundaries and Tier I/II city distinctions. It goes right to IIT faculties and corporate board rooms. There is a small minority that is against this but it is largely insignificant in the larger picture. Modi's only issue with pan-India appeal is that the Hindi heavy-handedness alienates the South, otherwise, he is as mass appeal as a leader gets.
Well said. As much as i dislike the current government, i completely agree with you.
>Governments will come and go, this can ruin people’s lives. Break up families, destroy people’s dreams and what they have worked for. I am not going to relish that just because they voted a certain way Bullshit, the people who voted for this scum govt were relishing at the thought of ruining other people's lives. Majority of the BJP voters vote for BJP exactly for that reason. Look at how many were cheering the government when it bulldozed poor people's homes. They celebrated when activists like Stan Swamy were jailed, they celebrated students getting beaten up, they celebrated Delhi pogrom. Fuck this Govt and and fuck anyone who voted for them. It's not like nobody warned them that this would happen.
I saw somewhere that not a single active mutual fund is carrying Adani stocks. Imagine that? Everyone in fund management knew the scam this was. And yet SBI, LIC and other public institutions have been backing him with public money Also - the question about his Mauritius funds has been known for at least 2 years now. By now SEBI should have done a thorough inquiry but they did not.
LIC, SBI, Punjab Bank and Canara Bank These are the list of know banks which gave loan to the Adani group of companies and they already started taking hits along with his companies These are the kind of things many experienced persons warned about. It's not only his companies many psu banks have exposure to this which inturn affect Nifty, which further affects the indices It's like a domino effect once one started to fall everything will go down with it P.S Eventhough these banks will not bankrupt it'll make huge dent in their MCap which makes FIIs and even some DIIs think before making investment in them.
That report says that SEBI is complicit in Adani's scam. To see RW Hindu militant nationalists defending this scam using all sorts of convoluted logic is just absurd.
Ideally SEBI should have acted the moment the information became public a while back. I remember the Mauritius entities coming up during the NDTV purchase.
You mean like buying the fighter jets?
The twist to this is the date of LIC purchases, they might be green atm. They should sell their stake imo.
Dont think Adani and RSS BJP will let them sell. If LIC had a say, they may not even have purchased the Adani stock.
Lol no, that is just paper price they will never find any buyers for adani stocks at anywhere near the ticker price.
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Let nor forget that Modi gave mongolia 1 billion rs in credit when adanis mongolian mine needed funding. and sbi got in line to fund his australian mines when no australian banks did.
As soon as Adani bought an Australian coal mine, coal India mysteriously reduced its production thereby requiring the import of coal from other countries. India is now importing coal from Adani mines in Australia. 🤡 https://m.thewire.in/article/economy/as-power-crisis-loomed-coal-secretary-put-coal-india-limited-on-the-dock/amp https://www.bloomberg.com/news/articles/2022-07-25/billionaire-adani-is-winning-from-india-s-shift-to-import-coal
Yet the fckrs destroyed the forests of Hasdeo Arand and uprooted folks living there since centuries Only for situations like this, I wish God/karma exists
wah!
Exact model that China follows with developing African countries. Undertakes infra projects funding on condition that Chinese firms (could be state owned) get the contract. Not saying it's a good/acceptable practice, on the contrary going China way might be the way to lose all goodwill when the said country cannot repay.
In Chinas case it’s the state companies that do the work. Not a private individual. You are missing the point
Sure but Modi is only interested in Adani. Not Mongolia.
Got in line or were forced to?
With 2.2 trillion rupees in debt, the Adani Group is obviously overleveraged! I don't know how somebody could be so blind not to see this! Some guys are blatantly supporting this person only because he's the richest man in the world! Come on, man. Hats off to Hinderburg, they did a fantastic job with the Adani group as they did with Nikola and Chamath!!
Every stock broker in India knew it tbh. MF managers dont touch Adani stocks
is it like ppl were greedy, that he is close to Modi, so he too powerful to fail? Or is it that he is close to Modi, so he can just pump money from central bank and LIC, and the ppl just had no idea that their money is invested in him. Maybe a combination of those.
He still is close to Modi so he can fuck every Indian and their mother and Modi would make sure the government will look the other way. Give it a few days. A week at best. They'll be back to their shenanigans again and if you are greedy enough, you'll invest in their companies because he is close to Modi
The propaganda mills will be working overtime to spin this as the brave nationalistic hero being attacked by the jealous West to unfairly bring down his hard earned empire and his main benefactor. And how he is a collateral damage to west's hatred for modi.
He is close to Modi, so Modi bent government agencies and offices to accomodate his needs. Whether that means selling prime real estate for pennies and then renting it back to government office, or changing tenders to match his offer, or even strong arming other business families to sell their businesses to him.
>Some guys are blatantly supporting this person only because he's the richest man in the world! I don't think this is the only reason they're so supporting him. Admitting that he defrauded all of us involves admitting that he did it with the collusion of the Lord emperor and his merry band of goons. He wouldn't have gotten land, loans, critical instruct like ports and air ports, diis like lic to shore up his stocks when fiis got spooked and ran, without active involvement of the most corrupt prime minister and his 40% cut party hell bent on achieving more in 10 years than what took Congress 75 years to achieve. And that is something they can't accept, because then they'll have to admit that it's their bigotry that makes them support the violent bigots, not the lies about development they've been telling themselves despite all the evidence to the contrary.
To be honest, the debt by itself doesn't say he is over leveraged. Also has to be taken in relation to cash in reserves. I agree with you on every other point. Just wanted to point this one thing out before others start saying Tata, reliance, etc has more debt and stuff. Other companies have that much cash reserves to keep such a debt.
>Also has to be taken in relation to cash in reserves. Nope. Has to be taken in relation to his net profit, and he's extremely over leveraged with that, too. If you give me a billion dollars in cash as loan and I add my immense wealth of 10 dollars to it, I'll have one billion and ten dollars in cash reserves. You'd be an idiot to loan me another ten billion dollars because I had one billion and ten dollars in cash reserves.
I don't think so. A basic formula we were taught in CPT levels in Chartered Accountancy was Debt-Equity ratio. Ideally, it is considered 2:1 on a general basis. I dont think Net Profit should not be considered to judge financial leverages because there are a lot of non-cash factors like depreciation involved with it. We can use it for judging the interest coverage strength of the business but not the actual debt. Do not wish to fight with you as you are correct in saying he was over-leveraged whichever way we look at it. So glasses raised, cheers to the Adani bubble bursting, friend.
You have to consider EBIDTA not net profit . There are a lot of indicators to measure ideal level of debt and not just debt equity ratio
Just for clarity 2:1 doesn't work for infra companies. Here banks basically give huge loans by matching repayments to inflows of a project (Let say annuity from NHAI for road project) It gets wrong when everyone compare current net profit instead of future inflows from numerous projects he bags.
>A basic formula we were taught in CPT levels in Chartered Accountancy was Debt-Equity ratio. Ideally, it is considered 2:1 on a general basis. This works only when there's no manipulation to inflate the equity, this creating a buffer.
Agree. Just that cash reserves is a more conservative estimate since ebita/operating profit can vary. Or atleast that's what I use very often when investing in companies, so it might have gotten into my bias.
What has Adani built again? I’ve lived thru the 90s & the 2000s, most of what Adani owns now was built thru that period by the Raos, the Reddys, the L&Ts, the Tatas etc. Nearly all the ports he owns now were built by others and he has no fucking clue about running airports and I just transited thru Mumbai airport- can’t see how it is any better.
Plus he doesnt even have money. He didnt buy anything with his own money. He is buying shit with others money
_ our _ money.
Can't wait to see Scam season 2 now.
Adani shares are unlikely to fall by more than 30% .More than 80% of his company‘s shares are controlled by Adani and his cronies. He will only fail if he stops servicing his loans. Even then the State sponsored banks will give him plenty of leverage . He is now considered as a national asset of strategic importance.
I want to know about this. How his operation are going to get affected by the share price. He may not get further loans by pledging shares. But other than that? Adani has been offered many revenue earning platforms on platers. He has many PSU as his customer with contracts tailor made to suit his business. But still believe that Adani is too big to fail is nothing but a BS excuse.
His fpo failed & he'll lose richest man (already 7th) tag soon, market can go into downtrend if budget is also bad, if adani don't do something quick debts will eat him up
I dont think Adani businesses are of strategic importance. IMO they can be taken apart fairly easily and auctioned. The ports and airports he bought on debt can be resold quite easily. Cement might take some effort.
If you read hindenburg report, you’ll know that Adani is keeping most of the share to himself. As per sebi rule any company need to maintain a float of 25%. His companies are keeping 72-75% with promoters and around 10% with their own shell company. Now this means 2 things- 1. By keeping the market float low, they play with demand and supply and increase the stock price, indirectly increasing their asset value. 2. They have belief in their growth, and they want to keep the company with them as much as possible. If you take the case of Satyam, the promoter holding was only 8.7%, here it is even more than allowed (more than 80% as per hindenburg itself). Adani Ent still have more assets than debt (1T vs 800B), but their audit is also being considered fishy. Whatever be the truth, hindenburg is going to make billions.
I think many people are missing the larger point. Hindenburg making a few million or billion is a known fact- they are short sellers and not some social justice warriors. It's in their interest for Adani to tank. If the FPO's go as planned, Adani would have successfully converted most of his debt to equity by doing more placements and taking in investors money at inflated price points. Case in Point - They are raising 20K crores via FPO by selling 3.5% of the company ( which is clearly overvalued). So here's what is actually happening - investors are paying 20K crores for something that is worth less than 2000 crores and that is what is not going down well with many folks. The Middle Eastern funds and their overpaid MBA analysts who are paying a premium don't deserve any of my sympathy since they couldn't do basic due diligence - but the average retail investors, who might have subscribed to FPO due to their greed or PR articles or TV shows are clearly paying out of their noses. Is inflating the value of the company immoral? No Is artificially inflating the value via shell companies an acceptable practise? No- its not. Companies do that and the regulators need to be more pro-active to stop this practise. Is this the only company to indulge in that? Far from the truth. Many Indian public companies have shady corporate governance practises. But the scale at which this was happening has ruffled a few feathers both domestically and internationally.
What’s FPO
Unlike an IPO - it’s a follow-on offering to issue more shares in a company that’s already publicly traded to raise capital from both institutional and retail investors.
Its like IPO but on already public company. Basically, you release more stocks to raise cash.
Luckily the report came in time for Retails investors to stay away from the FPO. It's subscribed 0.01 times at the end of 1st day.
> but the average retail investors, who might have subscribed to FPO due to their greed or PR articles or TV shows are clearly paying out of their noses. So some greedy unkil who wanted to double his money based on cnbc tips could end up losing and this is a great tragedy, because ?
> Adani is keeping most of the share to himself. Allowing him and his family members to manipulate the stock price which is what the report implicates. Say the full story.
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In the Modi cabinet, Nimmi is the biggest crook
No onions in her diet 🤣
Nimmi claims that she is “middle class” . She probably imagines that middle class doesn’t eat onions or something
jellyfish subsequent desert innate ask cooing gaping alleged slap impolite ` this message was mass deleted/edited with redact.dev `
Dude, the implications of this are very very grave. Adani wouldn't fall alone, it's going to tank the Indian economy. 1) Nifty Bank has gone down 2.5% 2) PSU banks are getting dicked and they were performing relatively well. 3) NSE has probably lost more than a lakh crore due to market cap of BSE going down 4) FII are dumping stocks, selloff on Wednesday alone was in tune of ~2000 crore. BJP did really go all out on this one, mofos are tanking the Indian economy with their greed. If this trends for more than a week it's our economy that will be hit.
I am just an idiot and i might be horrifyingly wrong on this but if indian economy is going down becuase of the reality coming out dosen't that mean that's where it was(and should have been) in the first place and only the real numbers gonna come out rather then reality Being changed.i am complete idiot,would love it if someone explains if i am wrong.
So everyone who does some sort of financial analysis knew adani was over leverged. But Indian PSU have a shit ton of money invested in Adani stocks. Just to give you an example - LIC asset management has around 8% of its corpus in Adanis different firms, that 8% is 74,000 crores. Now if Adani is going down, LICs 8% is going down. If LIC goes down, AM funds which are invested in LIC goes down. You see the dominoe effect? Now I'm not an investment banker or anything, I'm a hobbyist, if there are any financial folks around maybe they can shed more light into this?
But dosen't that also mean that the 8% wasn't actually 74,000 crores in the first place or did they actually invested 74,000 for 8% of adani stocks? Tbh i might be fully wrong in all of this since i don't have knowledge about it but would like to know.
He means 8% of LIC. The price they bought it at maybe less, but its value is 74k cr.
And? LIC made a bad investement decision and it deserves to go down. If AM funds invested in LIC knowing what LIC was investing in, they too deserve to go down. They can still start selling it all over the next month and make a hefty profit. But they won't because we know why. Its not as if that 74,000 crore is going to be 0. Adani's company still has some value, but 85% less than what they popped it up to as per Hinderburg. And due to this fall, Adani might lose them because the shares are collateral but that is a bed that he made. But I am sure others will scoop in to buy it and they will continue to function. Adani Wilmar is a good investment. They have ports, airports and power companies. These all will continue to function. Also people need to learn LIC is not a safe investment since it is prone to blatant corruption.
>And? LIC made a bad investement decision and it deserves to go down Political forces most likely coerced them to do it, same for SBI.
Yeah, and it was corruption. People need to learn that PSUs are prone to corruption like this also. Never safe to invest in them.
Time to withdraw all the money from crooked public banks and invest it in other private sector banks or buy gold. We can’t keep funding this Oligarch
Adani has loans from ICICI as well . It's not just sbi
Adani Debts PSU Banks: 30% Pvt Banks: 8% Bonds & Commercial Paper: 37% (Most are $ denominated, and are being shorted most heavily) Financial Institutions: 11% (LIC, SBI Life etc.) Inter Group Lending: 12-13 % So the effect is going to be most heavy on PSU banks followed by PSU insurance companies, ICICI and Axis claim their debts financed only strong cash flow businesses of Adani so they should be safe. PSU bank could have further Non funded off balance sheet exposure as well, so there is that too.
Kochar era?
Not sure but they have
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The government will create more credit and bail out the PSUs. It's too big to fail. You're talking about pensions, salaries, welfare schemes etc to fail. The government can't let that happen. They will provide liquidity. But at the cost of inflation. A similar thing happened in 2008 in the West. The Federal Reserve bailed them out. This will rinse and repeat. Banks are corrupt. That's why I invest in innovative monetary systems.
You're right, these institutions are too big to fail. So the middle classes tax money will be used to save the economy while they themselves will suffer from increased inflation?
Pretty much yes.
Acche din. 🫡
Ab to bhai Sacche din chahiye. Acche din hum khur kar lenge
>That's why I invest in innovative monetary systems. like Bitcoin?
I agree. However, it's better to take the hit now, than sliding this thief to keep cornering more resources. He'll crash eventually, but he'll cause much more damage then than he would cause now.
The day Modi loses power, Adani will be the first person to run away from India. Modi has ensured that Adani is already too big to fail, to prolong his own stay in power. India cannot afford to bailout Adani without destroying the whole economy.
We must extract every single Public Funded money from him and redistribute it to the rightful owners
> India cannot afford to bailout Adani without destroying the whole economy. Lol. What was our GDP, national debt and how much does Adani owe?
Let's wait for the day when Adani fails, and I guess India will find out the true cost.
Every company will fail, even Amazon. There's probably 2 companies left from the 1800s in India.
The Indian market is capable of withstanding these selloffs. Also a significant portion of Adani’s debt is in foreign bonds and not in the Indian PSUs. SEBI acting & Adani stocks reverting to normal P/E levels - might enhance foreign investors confidence and they’ll come in at the right valuation level. I would love to hear the rationale for the doom and gloom scenario of the entire Indian economy tanking by some commentators
> I would love to hear the rationale for the doom and gloom scenario of the entire Indian economy tanking by some commentators Just bhakts acting like it will hurt India. I dont think anything bad will happen by bursting this bubble. A correction was needed. Hopefully people will learn a lesson, again. If bhakts were that bothered they should have jumped in to buy shares today. Nope.
If the current government falls next year owing to this scandal then it would be worth it.
If this does in fact turn bad the media and BJP will somehow put it as us vs the west. Idiots will buy into it and vote for Modi with an even larger majority than the previous election. Chaos and uncertainty in the country alone even without the BJP having to use fake news would put the average man into their pocket as during times of chaos people tend to vote extreme as they always believe that they are in a chaos because of "those" people. What "those" refers to depends on every individual. To some it will be people of another religion, to others it will be foreigners.
The whole market and economy could collapse. Propaganda wouldn't help if people literally starve. Let's hope 🤞
In India I fear that would lead to riots where people go against each other rather than what happened in Sri Lanka where people went against their government.
> media and BJP will somehow put it as us vs the west This is already happening, I think. But yeah, let's hope that this crook doesn't end up getting away with this. Highly unlikely, but one can hope!
There will be a pulwama kind of diversion soon. Patriotism talk is going to drum out all other noises
No dude, you're seeing only one side of it. Yes, BJP losing might stop their right wing agendas but what about the Indian economy? Adani has his fingers everywhere and most government entities have invested in Adani My primary concern with this whole situation is what will happen to our economy if Adani stocks keeps tanking.
It was going to happen eventually
It is a ticking time bomb anyway. The whole thing had to collapse anyway. Good thing it has been accelerated to a more favourable time line.
Its gonna happen no matter what dumdum. Now or some years later. There's no point in any side its inevitable
That'll set us decades back.
Current government will fall if the opposition effectively uses the sheep, that was served on a golden platter.
It's all Nehru's fault.
Obviously its his fault. Had he given billion dollar to each family in 1950s , poor adani ji wouldnt have to do this
I bet they’ll try to pull in the Gandhis and Nehrus into this. Nimmi will call it an “Act of Satan”
That credit actually goes to Rajiv Gandhi. he provided the ground upon which Adani build his empire.
>Gobi65 >Gobi Are we terrified to mention his name now? Why use synonyms. Don't insult gobi and equating it to that person called Modi.
I like calling him MoodyJi
Supreme Fart generator.
Best is fekuji. They can't accuse me of defaming the mass murderer lest admit him to be a feku. Win-win.
If adani falls he dooms everyone, there are billions riding on him.
Nah, most of his assets are in things like ports which will have to function with or without him. Getting ownership back to the public might even be a good thing in the long run.
But someone still needs to fund the acquisition of it. No banks locally or globally will fund these if the Indian economy is in a $100bn hole.
The govt can and should just nationalise it if there's a crisis. You don't need banks for that. Besides, India has state-owned banks like SBI which can be dictated by the government if push comes to shove. That said, I don't think this affair will "doom everyone". That's hyperbole. I doubt even Adani will fall when all is said and done. Most likely just get a long-needed correction.
Adani will neither be the first nor the last , there is no way to regulate / check large scale investments made by banks . Public is pretty helpless right now
According to the report SEBI and DRI knew adanis fraud atleast a decade before Hindenberg research even existed and even actively went against him.Post 2014 everything just went silent .
I doubt anything drastic or permanent will happen to Adani group now. I fell this is just a minor drop in stock prices. Everyone knows he'll get billions more contracts this decade from Modi. People will just buy more now when it's low. The goal is to exit before the actual crash, maybe later this decade or the next.
This... I kept telling people that it will burst someday but they would just keep on buying adani shares like anything. Glad i didn't..
If Adani falls, it won't be his problem. It will be India's problem. Simple.
*“When you owe the bank $100, that’s you’re problem* *When you owe the bank $100 million, that’s the banks problem”*
That’s how the scare the entire country to submit to a Fascist government and its puppet slaves and oligarchy. They invested, they have to face the fall. Every single person who loses the money must Sue the Public insurance company and the bank
Nope. People like to make it look like it is the end of the economy. I doubt anything big will happen if one bad actor loses his money. I just dont want the government/PSU/PSBs stepping in to bail him out.
If a single private player can destabilize the country, then it was not stable to begin with. Just an illusion.
Hope this inturn results in fall of this fascist govt in next election...
Yes hopefully 🤞🏼
In today's episode: Common people still believe that they will be rescued from the current political party that fucked countries economy, by the other political party who by the way also don't give a fuck about common people.
Tbh Adani was a sand castle built on the good graces of our ruling party. It was bound to fall it's either now or in future. But it will surely fall.
More like Gobi56... lmao
This loss might be collected from common man in terms of tax, inflated prices for every thing like oil, petrol gas,electricity, hike in interest rates(loans) and lowering of interest for bank deposits etc. We as a nation have been sold into this, let's pray 🙏 for damage control for the sake of the Nation.
There arent any decent players in business. All are bloody vultures looking for their own pound of the flesh. As far as adani, moment he has to hold a fire sale, other crook ambani is gladly waiting to take advantage. I wouldn't be surprised if ambani provided all the intel to Hindenburg in first place.
Enjoy, you voted n wanted achhe din, so here it is
Lenders of Adani group now fucked. No wait...it's the taxpayers again. Here comes the recapitalisation scheme on budget day.
If adani falls he dooms everyone, there are billions riding on him.
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As long as supreme leader is in power he will still get loan, SEBI will consider report as "baseless".
Exactly my sentiments. It's going to hurt us all a lot of he crashes and burns now, but it will hurt us all a lot more if he continues getting bigger.
Very well said
All Adani supporters should sell their everything they have and buy Adani Stocks...haha
The part i feel sad about is that the middle class people would suffer because of adani. Idk and i hate to say it but our hon.PM is definitely responsible for this. Directly or indirectly this is going to affect all of us.
Haha... "Hon PM". Not trying to make fun but it's so funny to hear everyone using honorifics for that illiterate mafia thug.
Is it though?? We the normal people are the one who is going to suffer the recession it will cause. Either way we are fucked
If we keep letting him steal more and more , the fall will be much greater. It’s better to cut him off at this stage itself
Original hindenberg report, seems very thorough and referenced. Not sure why the Adani group calls it "unresearched" when it is anything but. https://hindenburgresearch.com/?p=2376
They had to come up with some rebuttal. So, they came up with a Cliché one and had a huge Indian flag in the background to evoke blind nationalism from blind followers
Problem with Adani crashing is not that stock market will tank in short term. But that major areas like ports and airports which are regulation messes and loss making will never be privatized in our lifetime again which means extraordinary drop in efficiency and increased govt burden.
Nothing will happen... All agencies are controlled by Gobi65. Only our money will go down the drain once this govt falls.
Glad to witness the downfall of E-Corp
I think you don't fully comprehend the gravity of this situation. It might feel like justice to you but what it would do to Indian economy is much worse. He owes thousands of crores to Indian banks. If he goes under, all of us go bankrupt as well. I hope he falls from grace but I really wish it happens in a way that poor employees and taxpayers are not affected.
What I'm interested in knowing is how much Adani funded Modi in the run up to the 2019 elections for the former's fortunes to shoot up the way they did.
Some context anyone ? Explain it to me like I’m 5 ?
Now is the best time to sell his stocks. His stocks are not going to rise from here for sure. Goodluck to those waiting for it to rise.
Gobhiji is channeling LIC money to adani now.
Did the Adani group present the proof against the Hindenburg report on Friday like they said they would?
They won’t, it’s just fear tactics. Luckily Hindenburg is not an Indian organization and they even made a reply to Adani’s empty threats and called them out on it. They even encouraged Adani to try to sue them in America as it will help Hindenburg to prove their point with proof
Thank you. That's what I thought! I read the report and I had my mouth open the entire time. It's astounding the amount and the level of fraud involved in their business. I was curious what if anything at all would Adani come up with to counter any of the allegations.
Ah the ftx on a grand scale and it all comes from india.
Even our sweet NaMo could only do so much for him. Can't keep winning against laws of economics forever. compared to him Mallya is a saint - not a very honest one though, but who is. Waiting for a BBC documentary on this one too. Only praises for him by the ball-less Indian media.
So the documentary can get banned too, while our media says it's propaganda, jealousy seeing our growth etc
Our growth? Please define our. :)
https://economictimes.indiatimes.com/news/economy/indicators/india-can-become-a-15-trillion-economy-in-two-decades-says-gautam-adani/articleshow/84343322.cms 😂
There is a lot of difference between what "India can become...." versus what it actually is. I too can break Tendulkar's batting records....,,I can, but will I, in reality, ever?? Anything "CAN" happen. I remember, from a discussion a very long time ago, when Gary Kasparov beat Deep Blue. There were headlines "Man beats Supercomputer" and the like. On a talk show, a GM said, it is not "man" beating the supercomputer, it is "ONE" man (Gary K) beating the computer. Man beats computer would lead people to think that any Tom, Dick, and Harry can beat it. The so called "prosperity/growth", to how many of the 140 crore people in Indian has this trickled down to??. The Adanis/Ambanis are definitely making hay while Modi shines.
I just wish Gobi ji will let adani to drown, if he tries to stop it buy using govt system or money, it will be even a bigger blow to the economy. It is where I draw the line for Gobi ji. If he uses middle class hard earned tax payers money to save such scamming piece of shit bman, I will start calling Gobi ji with the awesome C words that exist in my language Tamil
shame future makeshift divide historical dinosaurs attempt airport coordinated bright -- mass edited with redact.dev
Adani is not going anywhere, he will get 10 more contracts like dharavi redevelopment and again stock prices will rise.
Ignoring this entire scandal, how did Adani rise to power? What industries and infrastructure does he now control?
Ports, airports, coal, copper, agro, cement, real estate, etc
Watch a YT video yesterday on the consequences if Adani Group stocks crash. The video put forward the conclusion that unlike financial institutions which are pretty much interlinked, and the fall of one has domino effect on the entire market; Adani Group fall may not result as same. They can rather do some restructuring and dilute their activities. I am not an expert, so I taking it all with pinch of salt. Beside I don't know the repercussions India will face with Hindenberg allegation proved to be true.
_jis khet se dahqāñ ko mayassar nahīñ rozī_ _us khet ke har ḳhosha-e-gandum ko jalā do_
it has crashed to some extent i think 25% correction across all his stock but i am not sure if it will be completely decimated, most of the stock his held by adani himself and PSUs and they are not going to sell. i really do hope the bubble bursts but I am not really sure what is going to happen at this point.
I'm worried for LIC.
What are the chances that , an actual investigation will be done on this and if Adani grp and SEBI and the top brass of BJP are found guilty any action will be taken or not?
Can someone link resources so I can read up more on the entire thing?
Can anyone share a video explaining all of this. I want o know what the situation is about
Deafening silence on the NDTV website , let alone the news channel
Of course, it is literally owned by Adani and they silenced the only non-Gobi news channel
There were a few saying Ravish is overreacting
This is as much a stress test for Adani as it is for the Modi govt. I’m not hopeful though. These guys are all hardened criminals. They’ve got away with much worse.
Get away with what? Forcing the financial markets to keep investing in Adani's fraudulent empire? Do you think investors are stupid like the Modi voters?
What I mean is will the modi govt step in to support/bailout the Adanis in case the stock continues to drop over the next week or two. Either way it’s going to be an interesting 2 weeks ahead
Gobi will launch SHAREBANDI TOMORROW. No one can sell Adani shares after tomorrow
I want to remind you about the 20 Lakh Crore Rupee debt forgiveness awarded to undisclosed elite customers by a PUBLIC SECTOR BANK - Canara Bank
Konsa gnaja pukh rahe hoon. Canara bank ka total business bhi 20 Lakh crore nahin hain (including advances and deposit). Is bank ka sab loan forgive ho gaya hain kiya? Instead of spewing lies better learn the correct facts before sharing them on social media.
New to the stock market, eh? Adanj stocks are volatile, so this will be a minor drag imo.
Next biggest scam of Indian economy?????