In today’s briefing:
- Adani Group’s Crucial Disclosure Lapses About Bribery & US Investigation
- EQD | NIFTY 50: State Of The Odds
- Lucror Analytics – Morning Views Asia
- Narayana Hrudayalaya: Forensic Review
Adani Group’s Crucial Disclosure Lapses About Bribery & US Investigation
- Adani Group’s handling of U.S. FCPA investigation disclosures highlights significant lapses in transparency, including delayed and contradictory statements.
- Inconsistent disclosures and wrong disclosure about US investigations raising red flags for regulatory compliance and governance.
- Search warrants for Sagar Adani, Nephew of Gautam Adani issued in Mar-23, which is not disclosed in fundraising documents as well as Annual Report.
EQD | NIFTY 50: State Of The Odds
- After a period of prolonged sell-off, the NIFTY Index last week found support around the 23263 level and bounced.
- Below we introduce a new “quantitative chart” tool called “QUANTCHARTS“: it displays in a compact format all the information you need to evaluate the probability of trend reversal.
- As you will see the NIFTY Index closed just below the 25% (Q1) probability target, so it has room to rise further in the coming weeks, the CC is supportive.
Lucror Analytics – Morning Views Asia
- In the US, existing home sales rose 3.4% m-o-m in October (2.9% e / -1.3% revised p) to an annualised 3.96 mn units.
- That said, existing home sales grew at the slowest pace since late 2010, amid rising mortgage costs.
- Separately, the Conference Board leading index fell 0.4% (-0.3% e / -0.3% revised p) to 99.5 in October 2024.
Narayana Hrudayalaya: Forensic Review
- Narayana Hrudayalaya Ltd (NARH IN) is on an expansion spree and looks to add further 1500 beds in the next four years, to its 5683 operational beds as at FY24.
- As far as forensics are concerned, the company has shown improvement in its capital allocation, shown ramp up/turnaround in some hospitals; also impairments are done with in the past.
- However, few concerns loom over PPE disposals and non-reconciliation with cash flows, treatment of reversal of provisions and high growth rate assumed in goodwill CGU.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
