Bharat Rakshak

Cyrano wrote:CFO raising jallianwala bogey is a sure shot sign of a scamster for me. Instead of answering serious allegations with facts, he attacks a few sideshow gloaters at Bloomberg etc and make them centre stage. Given the thousands and lakhs of crores we are talking about, I'm sure somewhere rivers of money are flowing to all the right places. The group may yet survive this attack from H, but doubts and unanswered questions will remain...

Cyrano ji,

not saying who is right or wrong but the adani group has already responded to the charges made

they have put out a 413 page rebuttal

https://bsmedia.business-standard.com/_ ... 202023.pdf

rahulm wrote:

According to him this is the US retaliation for buying Russian oil and not toeing the US line. Thats a pretty big statement to make if it turns out to be true. He calls it an attack on India by the US to create a systemic issue.crisis in India.

and that regime change ^*^% pit Nuland bull is currently in India.

Didn't some brown sepoy in US say that India can buy Russian oil but will have to pay the price, dont remember his name.

Probably the Colonialists are rattled by this


Full speech here

Chetak ji,
H has issued a rebuttal of A's document. Was posted by a member in the prev page.

Adani Enterprises FPO fully subscribed in just three days

vijayk wrote:Adani Enterprises FPO fully subscribed in just three days

middle finger to Raul Vinci, BIF, Hindenberg Research and all Anti-Nationals.

The umpteenth rebranding effort of Rahul Gandhi is once again a confused stillborn effort, because a train wreck can only be sold as scrap metal -- via@Iyervval

WA

NII portion got bids amounting to 3.13 Crore shares.

Highest Contribution by family offices of UHNIs- Ambani, Sajjan Jindal(JSW), Sunil Mittal(Airtel), Sudhir Mehta(Torrent), Pankaj Patel (Zydus)

POWER OF BHARAT INC

Great job by India Inc ... Ambani, Sajjan Jindal(JSW), Sunil Mittal(Airtel), Sudhir Mehta(Torrent), Pankaj Patel (Zydus)

I think all these guys could have agreed before the FPO on the price. Most IPO/FPO are all negotiated and interest is assessed before the announcement.

On the question why they would buy in FPO while they could have bought it in open market for less ...

Try buying 9 million shares in open market. Price will jump up by 30-40%. There was demand for 31 million by NII

https://www.bloomberg.com/news/articles ... er-smelter

Copper sterlite plant may be re opening, SC is hearing the case soon

https://economictimes.indiatimes.com/ne ... 491967.cms

India's core sector output rises by 7.4 per cent in December

Atmavik wrote:https://www.bloomberg.com/news/articles ... er-smelter

Copper sterlite plant may be re opening, SC is hearing the case soon

Awesome. Vedanta backed off from selling

vijayk wrote:Adani Enterprises FPO fully subscribed in just three days

This is a major boost in confidence. Even though some parts of Adani's businesses are not clean, Hindenburg's attack reeked of conspiracy against the Modi admin. Glad attack did not do a lasting damage, at least I hope. Moving forward, other Indian operators will have to take a look at how this was played and have to come up with strategies to insulate them from outside attacks/influences. All in all, I look at this as a stress test for a desi corporation spanning ownership of strategic assets across multiple nation's and politics.

What doesn't kill you will only make you stronger and I hope that's the case for Adani/Indian Corps, especially the one's supporting Modi govt.

Yes. That, and stop making shady shell companies in Mauritius to screw the tax payer.

Jay wrote:

vijayk wrote:Adani Enterprises FPO fully subscribed in just three days

This is a major boost in confidence. Even though some parts of Adani's businesses are not clean, Hindenburg's attack reeked of conspiracy against the Modi admin. Glad attack did not do a lasting damage, at least I hope. Moving forward, other Indian operators will have to take a look at how this was played and have to come up with strategies to insulate them from outside attacks/influences. All in all, I look at this as a stress test for a desi corporation spanning ownership of strategic assets across multiple nation's and politics.

What doesn't kill you will only make you stronger and I hope that's the case for Adani/Indian Corps, especially the one's supporting Modi govt.

Jenab,


The attack (so far) is against India and not against Modi or adani specifically.

The attacks are not done yet. They will come at the country again and again in one form or the other trying to tank the economy, disrupt investor trust and confidence and hopefully force a regime change. It is those promises which has enthused pappu walk his backside off in the foolish Bharat todo yatra

adani's companies are fulfilling a large part of India's foreign policy objectives and setting the narrative for Modi's India in foreign countries by taking over airports and ports in other countries.

In israel's haifa port, adani actually outbid the cheenis and the hans wouldn't have been so happy to lose out to an Indian company.

The man is willing to take business risks in a way that no other Indian company can or is willing to do. All his loans are invested in assets in various forms and in related fields only and his financiers can see that aspect very transparently.

Ameriki companies have done the same earlier but no one had the testimonials to go after them. Now, it is the ameriki deep state itself which is the tip of the spear and also in pushing the BIF brigade. microsoft, amazon, meta, twitter, face book, tiktok have all done exactly the same thing as adani because they have expanded far beyond their borders and are established in other countries as well

If you have any evidence of "some parts of Adani's businesses are not clean" then put it out in public, otherwise don't push such a negative view based on hearsay and rumour.

Indian regulators have not found anything against adani and rumours have been long doing the rounds about the heavy debt that the adani family is allegedly carrying. Creditors have had more than enough time for everyone involved to verify that there is no such debt or leveraging issue.

There is no direct evidence of unlawful intent or activity but at times, like any and all other enterprising big business, they may sail as close to the wind as they are legally permitted.

forget all that nonsense about shell companies. Infrastructure companies always have a separate SPV for each project that they handle, long term supply chains and production lines also may have their own SPVs and these may easily number in the high double digits of SPVs linked to each business, and these guys have multiple business and companies to handle and almost all are in the infrastructure space and many routinely operate across borders. ALL details about SPV, dealing with companies owned by family members, friends or relatives have to be mandatorily disclosed in the balance sheets and such inputs are rigorously audited ever since the right royal NPA mess created by RRR, raincoat, white waisty and the abrahamic mafia that resulted in such a financial mess

BTW, hindenberg has not really disclosed anything new or even unknown to a lot many in the Indian bourses/govt/regulators. 99% of their inputs are sourced from the multiple adani company's balance sheets itself and open source information but slyly garbed in such a way that it appears as a "researched" revelation.

Read their report of accusations against adani, it is a real eye opener, filled mostly with bad politics, biased opinions, false innuendos, and baseless rumour

The timing and focus of the attack is revelatory by itself and all banks and creditors like LIC have publicly declared their verifiable holdings in adani companies and none of them have taken a hit, because they have lent funds on assets and not on adani companies' shares



Another damning indictment of short-seller ⁦@HindenburgRes ⁩ by US judge.


https://www.reuters.com/legal/governmen ... 023-01-11/

Jan 11 (Reuters) - U.S. District Judge Paul Engelmayer of Manhattan says courts shouldn't believe everything they read in shareholder class actions — especially when allegations are based on reports from short sellers.

Short sellers are not unbiased narrators, Engelmayer said in a ruling on Monday in a securities fraud class action against sports betting company DraftKings Inc. When they publish damning revelations about publicly traded companies, the judge noted, it's usually because they are hoping to drive down the company’s share price so they can cover their bets.

That conflict means courts must be cautious about assessing assertions from short sellers, particularly when the short seller has attributed key information to unnamed informants, Engelmayer wrote. And if shareholder lawyers cannot independently verify the short seller’s accusations, Engelmayer said, courts should be even more wary.

Engelmayer, as you've probably guessed, dismissed the class action against DraftKings, concluding that shareholders’ case was fatally flawed because it relied almost entirely on assertions from a 2019 Hindenburg Research LLC report that pushed DraftKings’ share price down about 4.2%.

Cyrano wrote:Yes. That, and stop making shady shell companies in Mauritius to screw the tax payer.

Agree on that

vijayk wrote:

Cyrano wrote:Yes. That, and stop making shady shell companies in Mauritius to screw the tax payer.

Agree on that

I would suggest not making random speculations based on a fake report cranked out by some sadakchaap "research firm".

What shell companies in Mauritius were "made" by Adani ? Read the detailed response given by them.

Not sure what that "tax graphic" is supposed to convey. Adani has a lot of debt servicing expenses. The country cannot wait 30 years for infrastructure.

Hope Adanis clean up any items that needs to be cleaned up, they may not get such a chance again. Either ways, this is part of growing up, back in early 2000s no FII would be interested in the Indian market, see what is today Corporate governance and financial propriety should start becoming cornerstones at our growing corporate leaders

KL Dubey wrote:

vijayk wrote:
Agree on that

I would suggest not making random speculations based on a fake report cranked out by some sadakchaap "research firm".

What shell companies in Mauritius were "made" by Adani ? Read the detailed response given by them.

Not sure what that "tax graphic" is supposed to convey. Adani has a lot of debt servicing expenses. The country cannot wait 30 years for infrastructure.

Dubeyji - I fully support him in his mission and fighting India's enemies

But when you are the richest person and don't pay taxes, we can't defend him with same vigor. They have to be accountable too. That's what fuels a lot of attacks and Modiji is taking some hits based on this. They have to clean up their accounting and increase transparency

At Rs 1.55 lakh crore, GST mop-up in January is second highest ever.

GST collections for the month of January stood at Rs 1.55 lakh crore, according to the data shared by finance ministry on Tuesday. This is the second highest mop-up next only to the collection reported in April 2022.

Giving a break-up of the collections, the ministry said that CGST accounted for Rs 28,963 crore, while the SGST stood at 36,730 crore. The IGST accounted for 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess was Rs 10,630 crore (including Rs 768 crore collected on import of goods).

"The government has settled Rs 38,507 crore to CGST and Rs 32,624 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of January 2023 after regular settlement is Rs 67,470 crore for CGST and Rs 69,354 crore for the SGST," the release said.

The revenues in the current financial year upto the month of January 2023 are 24% higher than the GST revenues during the same period last year.

The revenues for this period from import of goods are 29% higher and from domestic transaction (including import of services) are 22% higher than the revenues from these sources for the same period last year.

This is for the third time, in the current financial year, GST collection has crossed Rs 1.50 lakh crore mark.

"During the month of December 2022, 8.3 crore e-way bills were generated, which is the highest so far and it was significantly higher than 7.9 crore e-way bills generated in November 2022," it said.

"Over the last year, various efforts have been made to increase the tax base and improve compliance. The percentage of filing of GST returns (GSTR-3B) and of the statement of invoices (GSTR-1), till the end of the month, has improved significantly over years. In the quarter Oct-Dec 2022, total 2.42 crore GST returns were filed till end of next month as compared to 2.19 crore in the same quarter in the last year," the release further said.

vijayk wrote:But when you are the richest person and don't pay taxes, we can't defend him with same vigor. They have to be accountable too. That's what fuels a lot of attacks and Modiji is taking some hits based on this. They have to clean up their accounting and increase transparency

kuch bhi.

First of all, tax paid by Adani companies is not the same as Gautam's personal income tax. Adani companies have paid taxes last year and there is no IT dispute on that. The numbers are publicly disclosed.

Second, don't get fooled by these "richest person" lists. Most of the wealth of such folks is measured by their stock holdings, which they don't pay tax on until they cash it out for capital gains. As for his actual "cash" income, I don't see any evidence whatsoever that he has not been paying his taxes on his income.

He seems to have averted crisis. Traditionally when shorts fail the short sellers looses money and people have famously been bankrupt by shorts gone horribly wrong (GameStop) . Here however the instruments to short Adani were very tangential .he was shorting debt bonds and derivatives . Is there a way to find out if the shortseller paid the price ?

I know it's very very early still and these things take months to take shape.

gakakkad wrote:He seems to have averted crisis. Traditionally when shorts fail the short sellers looses money and people have famously been bankrupt by shorts gone horribly wrong (GameStop) . Here however the instruments to short Adani were very tangential .he was shorting debt bonds and derivatives . Is there a way to find out if the shortseller paid the price ?

I know it's very very early still and these things take months to take shape.

That's what I did not understand. I don't think they can make/break Adani by shorting bonds.

This is just an attempt to create political storm which as usual was backed up by BIF/COmmies/Jihadis and people did dump the stock and they got headlines. The trial balloon was more to stop FPO and create a crisis which would have further pushed the stock down. The goal was to help China, undermine Modi and derail the growth. The funding will come from China.

But India and India Inc did not let these shadowy forces win the battle.

But Adani stocks can't sustain this 300 PE ratio.

Another angle is to show in bad light Netanyahu giving Adani control of a port in Israel?!

Vips wrote:GST collections for the month of January stood at Rs 1.55 lakh crore, according to the data shared by finance ministry on Tuesday. This is the second highest mop-up next only to the collection reported in April 2022.

I keep reading this term "mop-up" all the time in Indian economy/financial news. Is it a technical term or a holdover from the ICS/British days and carried on by Indian babus?

Vayutuvan wrote:Another angle is to show in bad light Netanyahu giving Adani control of a port in Israel?!

[OT] BiBi has had far worse allegations than doing business with someone who allegedly has minor accounting errors in Business. i doubt he gives too hoots .neither should we. [/OT]

Saw Adani in Bloomberg news with all the negative connotations. They rarely if ever cover Indian business and was surprised to find Adani business covered like this. Someone is controlling the threads of this whole operation outside India.

I’m surprised that even on this forum folks trust shady foreign sources over Indian ones. So much white worshiping.

vimal wrote:Saw Adani in Bloomberg news with all the negative connotations. They rarely if ever cover Indian business and was surprised to find Adani business covered like this. Someone is controlling the threads of this whole operation outside India.

I’m surprised that even on this forum folks trust shady foreign sources over Indian ones. So much white worshiping.

Bloomberg is a Chinese servant. I remember the ******** in Primary debates when someone asked about Climate change, he absolved Chinese and claimed it is mostly India. That kamine is probably doing it on behalf of Xi Ping

This whole Hidenberg Research group probably subcontractor or hired guns by China

^^ Ah yes, Bloomberg has been a China sucker for a long time. It all makes sense now.

Do we know the details of short position taken by Hindenburg? Was it in Indian stock market or in USD bond based CFDs?

Dilbu wrote:Do we know the details of short position taken by Hindenburg? Was it in Indian stock market or in USD bond based CFDs?

not in India

In India, it is not possible to short a stock directly (except intraday). Shorting is done through derivatives (futures and options). But, there is liquidity only in current month futures and options for individual stocks, that too limited for most of Adani stocks. There is very little liquidity in next month and far month derivatives.

Big guys may enter into short stock positions by borrowing stock from clearing members. In case of Adani stocks, there is very little float and it would be suicidal to directly short their stocks even if they manage stock loans from clearing members.

From what I read, they shorted non-India-traded bonds and derivatives. I think this is more of a hit job than a short trade.

a_bharat wrote:In India, it is not possible to short a stock directly (except intraday). Shorting is done through derivatives (futures and options). But, there is liquidity only in current month futures and options for individual stocks, that too limited for most of Adani stocks. There is very little liquidity in next month and far month derivatives.

Big guys may enter into short stock positions by borrowing stock from clearing members. In case of Adani stocks, there is very little float and it would be suicidal to directly short their stocks even if they manage stock loans from clearing members.

From what I read, they shorted non-India-traded bonds and derivatives. I think this is more of a hit job than a short trade.

I think they were hoping Chinese media, BIF, dumb Indian media and jihadis can create chaos and bring down the market. I am sure some FIIs conveniently dumped the stock in a coordinated manner.

I wonder if someone can trick Hidenburg to confess who funded them.

Adani hindenberg tussle


View from an Indian Research firm.

Most Adani bonds rally after Group’s $2.5 billion share sale

Most of the dollar bonds issued by the Adani group of companies gained for a second day Wednesday after its flagship sold $2.5 billion worth of shares in a fully subscribed follow-on offering.

The 2024 note of Adani Green Energy Ltd. gained nearly 5 cents on a dollar to 80.9 cents as of 9:35 a.m. in Hong Kong, recovering from a slump to a record low earlier this week. Eleven out of 15 dollar-denominated bonds by the group tracked by Bloomberg were also higher.

A good election year budget with enough stuff to make middle class happy. No divestment of PSUs, no big reforms in banking sector, no risky moves. Continued focus on capital investment in key sectors. Lot of little stuff that addresses hitherto unaddressed areas. Like focus on supporting tradition artisans and showrooms to promote and sell their products. Tribal schools, increased deposit limits for Sr citizen, help for tourism sector, PMAY increase, skill development for youth etc etc... Everyone got a dollop of prasaadam from Seetharaman ji.

Credit Suisse won't accept Adani Green bonds. SO Adani prices went down.

https://economictimes.indiatimes.com/ne ... 361769.cms

The Adani Group — with investments in ports, roads, rail, airports, and power — is now a crucial vehicle for India’s economic ambitions under Prime Minister Narendra Modi. Adani and Modi are close, and have been for two decades.

But talk of cronyism misses the point. If Adani didn’t exist, the Indian government would have had to invent him: The development model we have now chosen requires risk-taking “national champions” such as the Adani Group. What else did you expect? After all, like so many others, India has turned away from traditional market-supporting structural reform in favor of old-fashioned industrial policy.

What Blomberg is saying is that you are doing all by yourself and not letting western and chinese partners suck your blood

They have known for years that Adani Enterprises Ltd., the fulcrum of the Adani empire, is loaded down with debt, and that the ultimate source of its funding is remarkably opaque. Adani stock is generally thinly traded; few here will be willing to believe that Adani companies set out to defraud retail investors, even if both public sector banks and state-owned insurers have bet heavily on them.

No, Indians’ real fear is something else — that Gautam Adani and his companies simply cannot do what they say they will. Can they build the roads they have promised, improve the ports they have been given, maintain the airports they won in a bid? Until now, nobody else has been able to do so.

Adani’s companies have not just been entrusted with a wide swathe of India’s infrastructure. They have become the government’s first choice as partners in multiple sectors that framers of our industrial policy have decided are priorities for India’s growth.

So the attack is not on Adani but India's growth

Does the government want Indian companies to set up factories that make solar panels? Adani will oblige. Has the prime minister set a stiff renewable energy target? Adani will sign up to meet it. Are we worried we aren’t self-reliant in weaponry? Adani will undertake to create an “indigenous defense ecosystem under ‘Make in India.’”
Are policy makers worried about the semiconductor supply chain? Gautam Adani will promise “a value chain that is fully indigenous and aligned with the geopolitical needs of our nation.”

Somehow this makes me suspect that this is purely Chinese operation and several sold out western companies have been contracted to do the job

India is not necessarily short of capital to achieve some of these ends. It is, however, certainly short of implementation capacity. This is what Adani’s companies has promised to supply. The public sector is too inefficient to build what India needs; the rest of the private sector is too concerned about political risk.

Wherever the money may have come from — public sector banks, pension funds, faceless pools of offshore capital — what matters for India’s growth is how productively it is spent. Effective oligarchs might be dangerous for a country and, if they’re corrupt, even more so — just ask Russia. Inept oligarchs are calamitous.

Adani will take down India’s industrial policy with him. Their big bet on him will then rebound on India’s banks, on India’s politicians, and on India’s citizens.

Yesterday


Today
Today they stopped accepting Adani Bonds all of a sudden !!

No one wants India to be strong and independent. The old world order (from 1700-1947 and the after) was built on Indian Money easily available to west (industrialization), Indian soldiers to die for their cause (WW1 and 2 and many others), free labor available (Mauritius, Fizi and current IT)etc etc.
They need a pliant India, completely emasculated. Now we are pulling ahead of the dark lord (you know who), the effort to pull us down will only increase.
Imagine a world of 2023 where India would have boycotted Russia, supplied soldiers for Ukraine, gladly sent wheat to UK while millions die at home...now that India is being missed.

I havent looked at the budget, but I am sure the middle class(mainly who voted for BJP) and P Chidambaram will be unhappy