'About $8.5 billion in free cash, about $3 billion as annual debt refinancing, and $3 billion-4 billion in fresh borrowing. An additional $1.6 billion-1.8 billion will come from development profits in 2025-26.'
Hindenburg Research, the forensic financial firm that challenged the Adani Group, took its name from the infamous airship that burst into flames upon arriving in New Jersey in 1937. And the counter to its damning report against the conglomerate was dubbed 'Operation Zeppelin,' named after the German dirigible airships used for reconnaissance and bombing during the First World War.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
While questions may arise over the sheer dominance of a single corporate group in running airports in the country, it pretty much fits into the government's plan to get out of this space and earn revenue without working for it.
Pawar posted on X, formerly known as Twitter, pictures of him and Adani cutting a ribbon of the factory.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
In his Marathi autobiography Lok Maze Saangati published in 2015, Pawar has lavished praise on Adani describing him as 'hard-working, simple, down to earth' and with ambition to make big in the infrastructure sector.
Leading the Opposition attack over the Adani-Hindenburg issue in the Lok Sabha, Rahul Gandhi on Tuesday linked Gautam Adani's meteoric rise to Prime Minister Narendra Modi's coming to power and said "magic" happened after 2014 that propelled the businessman from the 609th to the second spot on the global rich list.
US short seller Hindenburg Research has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through "systematic loot". Hindenburg stood by its last week's report that said its two-year investigation found Adani Group "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
The company proposed to move site for supply to Gujarat from Korba to coastal Mundra within 10 days of signing PPA.
Pathan brothers turn down Congress ticket; Rahul's impersonal ways; Modi on DD; RaGa's loss, NaMo's gain. All this and more from the election battlefield.
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
'AAP's real value must be measured not by the number of Lok Sabha seats it wins in the election -- which may not exceed 10 or 15 -- and not even by the number of votes it takes from the BJP, but by its ability to deflate Modi's superhuman '56-inch chest' image and the charisma so assiduously manufactured around him by the corporate-controlled media.'
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