Gautam Adani-led Adani Enterprises Ltd is exploring selling its stake in Adani Wilmar Ltd, its consumer-staple joint venture with Wilmar International Ltd, a report from Bloomberg News says, citing people familiar with the matter. Adani Wilmar shares fell nearly 5% in the morning trade following the news report.
The Justice AM Sapre expert committee appointed by the Supreme Court (SC) appears to have given a clean chit to the Securities and Exchange Board of India (SEBI) on the issue of regulatory failure while passing some strictures about the need for SEBI executives to take a constant stand on issues, especially those decided by the apex court. Meanwhile, the Adani group is also allegedly claiming a clean chit. On the Adani issue, too, barring some ongoing investigations, the Committee seems satisfied that SEBI has done all it can.
US global equity boutique GQG Partners has invested Rs15,446 crore (US$1.87bn) in four companies of the Adani group. GQG Partners manages client assets of more than AU$130bn (billion) or about US$92bn.
While agreeing with the Supreme Court s suggestion on appointing a committee to protect investors interests, the Union government says the Securities and Exchange Board of India (SEBI) is competent to handle the fallout of the Hindenburg Report on Adani group.
Refuting media reports about its higher exposure in the Adani group, the Life Insurance Corp of India (LIC) says its exposure is less than 1% of its total asset under management (AUM) at book value.