In today’s briefing:
- Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout
- Adani Green Energy – Event Flash – US Charges Gautam Adani And 2 AGEL Executives
- Mamaearth’s Inventory Issue Could Be Bigger and Long Lasting
- Adani Ports – Event Flash – US Charges Gautam Adani And 2 AGEL Executives – Lucror Analytics
- Adani Green Energy – ESG Report – Lucror Analytics
Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout
- Gautam Adani and executives indicted in U.S. for bribery, fraud, and obstructing justice tied to renewable energy projects worth billions.
- Allegations spotlight governance risks, promoter-driven models, and transparency issues in Indian conglomerates, threatening investor trust in Adani Group and renewable energy sectors.
- Adani Group issued media statement saying that charges in indictment are baseless and denied.
Adani Green Energy – Event Flash – US Charges Gautam Adani And 2 AGEL Executives
- The US indictment of key executives is a material credit negative for the Adani Group, with the allegations being more serious than those from Hindenburg Research’s short-sell report in January 2023.
- In the near term, the US indictment is likely to constrain the group’s access to financing, particularly in the offshore market.
- We note that the Justice Department’s charges are directed at the individual executives, not at Adani Green Energy or other group entities.
Mamaearth’s Inventory Issue Could Be Bigger and Long Lasting
- All India Consumer Products Distributors Federation (AICPDF) has again raised concerns about Mamaearth, claiming that distributors and retailers are stuck with around INR 300 crore worth of unsold products.
- The quantum inventory concern that distributors are raising is almost 5x of what Honasa has taken the hit.
- This could bring some serious repercussions on the company’s working capital and growth plans
Adani Ports – Event Flash – US Charges Gautam Adani And 2 AGEL Executives – Lucror Analytics
- The US indictment of key executives is a material credit negative for the Adani Group, with the allegations being more serious than those from Hindenburg Research’s short-sell report in January 2023.
- In the near term, the US indictment is likely to constrain the group’s access to financing, particularly in the offshore market.
- We note that the Justice Department’s charges are directed at the individual executives, not at Adani Green Energy or other group entities.
Adani Green Energy – ESG Report – Lucror Analytics
- Adani Green Energy Limited (AGEL) is one of the world’s largest developers and operators of solar and wind power.
- The company’s assets are geographically diversified across India, with total locked-in capacity of 20.4 GW (of which 10.9 GW was operational as of June 2024).
- AGEL is listed on the Bombay Stock Exchange and National Stock Exchange of India.
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