Who Among The Wealthiest Individuals & Organizations Are Connected To Adani Stocks?

The Adani Group was accused of deception by US-based short-seller Hindenburg Research, which sparked one of the most significant talked-about downturns in the nation's business history. Subsequently, the Hindenburg report shocked the Adani Group about two weeks ago, and the group shares have continued to experience a massacre. It has since been discovered that shareholders and partners in joint ventures of various Adani Group companies are vulnerable to market turbulence.

Based on a Bloomberg study, these wealthy business people and companies that are connected to Adani stocks include:

 

●      Wilmar International, which is owned by the wealthiest family in Malaysia.

●      Walmart, the world's largest retailer which is owned by the second-richest family in the world, the Waltons.

●      EdgeConneX, a Virginia-based provider of data center services.

●      CMA CGM, the third-largest container shipping company in the world.

●      Gadot Group, a supplier of chemicals.

●      An Abu Dhabi-based International Holding Company, the Adani Group's most important backer.

 

Adani's Exposure to LIC & SBI

 According to reports, banks in India have exposure to the Adani group of Rs 80,000 crore. SBI is the leader with an exposure of Rs 27,000 crore, followed by Bank of Baroda with an exposure of roughly Rs 5,500 crore and PNB with an exposure of Rs 7,000 crore.

According to LIC, it has a 36,474.78 crore rupee exposure to the debt and equity of the Adani Group. According to reports, the insurer also owns shares in those other Adani Group companies, including a 9.14% holding in Adani Ports and a 5.96% investment in Adani Total Gas. The enormous vulnerability of the public insurance company, LIC, to the Adani group and how it could endanger the savings of middle-class Indians have come under scrutiny following the stock market fall. By claiming that its overall exposure to the Adani Group companies is less than 1% of its total assets under management at book value, LIC has eased these worries for everyone.

According to the research, Adani Group has expanded quickly in recent years as a result of its parent company, Adani Enterprises Limited (AEL), which grew by more than 1,600% in a year, culminating in December. As a result, according to the Bloomberg Billionaires Index, Gautam Adani, founder of the Adani Group, rose to the position of the second-richest person on the planet.

As the fortune of the former continues to decline amid the slaughter in the Adani group's stock price, Gautam Adani this week lost the title of Asia and India's richest man to Mukesh Ambani of Reliance. According to the Hindenburg study, excessive and open stock manipulation was a major contributor to that rise. Despite Adani's denial of these accusations, the market is still suffering because he canceled Adani Enterprises' fully subscribed follow-on public offering (FPO).

Most of the people outside the market anticipated that the upheaval surrounding Adani's businesses will have effects that will be felt not only in the country but outside of India as well. However, Adani has just denied the allegations calling it a planned attack on India. What will this turn out to be? Only time will tell. One thing is for sure, its effect on the glowing Indian Economy is minimal.

Watch the video of Dr Vivek Bindra.