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The sprawling Adani Group, which he founded over 30 years ago, has established interests in industries ranging from logistics to mining. “We view this as validation of our findings on offshore stock parking by Adani,” Hindenburg founder Nate Anderson said on Twitter. In its report, Hindenburg had alleged that “offshore shells and funds tied to the Adani Group comprise many of the largest ‘public’ holders of Adani stock.”An Adani Group spokesperson declined to comment. Meanwhile, Norway’s sovereign wealth fund, said Thursday it has “for all practical purposes…fully divested,” from the Adani companies. The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with NYU's 'Dean of Valuation' Aswath DamodaranAswath Damodaran of the New York University's Stern School of Business discusses the Adani crisis, and says "this is the Indian market in a nutshell, Adani is not the exception."
The Adani Group didn't play a "con game" but has exploited the "weakest links" in India's institutions to its advantage, according to NYU's "Dean of Valuation" Aswath Damodaran. It's not healthy for a market," Damodaran, told CNBC's "Streets Sign Asia" on Thursday. "That's why I said Adani is not about the company … this is about the weakest links in the India story. Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani (L) highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023. The Adani Group firmly denied the accusations, calling it a "calculated attack on India" and its institutions.
The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission, which have collapsed in value. While the Adani Group has vehemently denied the allegation made by Hindenburg Resarch as “baseless” and “malicious,” investors remain unconvinced. Adani companies will be reporting quarterly results this week. Moody’s said Friday that the plunge in the shares of Adani companies was likely to reduce the group’s ability to raise capital. Another agency, S&P, cut the outlook for its ratings on two companies, Adani Ports and Adani Electricity, to negative from stable, citing the risk of higher funding costs or reduced access to capital.
Tesla needs to separate itself from Elon Musk's personality to win back investors, according to NYU's Aswath Damodaran. Shares of Tesla have cratered more than 70% from their record high as investors grow concerned about Musk's focus on Twitter. "You're no longer buying a company, you're buying a human being," Damodaran said. "It's a danger buying a company that's so closely tied to a personality that you're no longer buying a company you're buying a human being," Damodaran said. Meanwhile, a Tesla shareholder in Iceland submitted a resolution for Tesla investors to vote on in May as to whether the board of directors should prepare and maintain a key-risk report, according to the LA Times.
Watch CNBC’s full interview with NYU's Aswath Damodaran
  + stars: | 2023-01-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with NYU's Aswath DamodaranAswath Damodaran, NYU Stern School of Business professor of finance, joins 'The Exchange' to discuss mega cap stock valuations in an inflationary environment.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYU's 'Dean of Valuation' on Netflix: The business is broken and off my listAswath Damodaran, NYU Stern School of Business, joins 'The Exchange' to discuss mega cap stock valuations in an inflationary environment.
Elon Musk says his $44 billion Twitter takeover might result in a bankruptcy filing. To make the deal work, Mr. Musk has been trying to add subscription revenue and reassure advertisers about the platform’s future. What’s more, the company’s debt stack now includes floating-rate debt, meaning that interest costs are set to rise as the Federal Reserve continues to increase interest rates. Twitter’s credit ratings, which were below investment grade before the transaction with Mr. Musk, have deteriorated further. For that, Mr. Musk would need to persuade potential investors that he has a viable long-term business plan, he said.
Watch CNBC's full interview with NYU's Aswath Damodaran
  + stars: | 2022-11-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with NYU's Aswath DamodaranAswath Damodaran, NYU professor of finance, joins 'Power Lunch' to discuss the recent story at Meta, the stock's moves this week and more.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI've yet to hear from Meta about how they plan to make money on the metaverse, says NYU's DamodaranAswath Damodaran, NYU professor of finance, joins 'Power Lunch' to discuss the recent story at Meta, the stock's moves this week and more.
But for the moment, I can understand why India is an attractive market for a lot of foreign institutional investors." Indian Prime Minister Narendra Modi has plans to make India a $5 trillion economy by 2024-25. While downgraded, India's growth forecast still cuts higher than others in the Asia-Pacific. Modi has plans to make India a $5 trillion economy by 2024-25, while Adani said at a recent Forbes conference in Singapore that India will go from a $3 trillion economy to a $30 trillion one in the next 25 years. Adani said at a recent Forbes conference in Singapore that India will go from a $3 trillion economy to a $30 trillion one by 2050.
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