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    539254   INE931S01010

ADANI TRANSMISSION LIMITED

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India minister says regulators probing Adani firms, shares fall

07/19/2021 | 08:18am EDT
FILE PHOTO: The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad

CHENNAI (Reuters) - India's securities regulator and customs authorities are investigating some Adani Group companies for non-compliance of rules, junior finance minister Pankaj Chaudhary told parliament on Monday.

Shares of the six Adani group companies, which are in the business of operating airports and ports, generating and distributing electricity, and coal and gas trading, closed between 1.1%-4.8% lower on Monday.

"The Securities and Exchange Board of India (SEBI) is investigating some Adani Group companies with regard to compliance with SEBI Regulations," Chaudhary said, without disclosing the companies involved.

"The Directorate of Revenue Intelligence (DRI) is investigating certain entities belonging to the Adani Group," he said.

A spokesman for the Adani group said the company had not received any enquiries from the Securities and Exchange Board of India (SEBI) "recently."

"We have made full disclosure to SEBI on specific information requests from them in the past. However, we have not received any communication or information requests recently," he said.

A matter pertaining to a show cause notice sent by the Directorate of Revenue Intelligence (DRI) five years ago was sub-judice, the spokesman said.

Stocks of companies controlled by Indian billionaire Gautam Adani recorded their biggest-ever decline in the week ended June 18, after Indian newspaper Economic Times reported that the accounts of three Mauritius-based foreign investors in Adani companies had been frozen.

Shares in the six Adani companies have fallen between 12.9%-44.9% in the five weeks after the Economic Times report. The stocks have cumulatively lost over $37.6 billion in just over a month following the report, even after Adani rejected the article as "blatantly erroneous."

($1 = 74.6060 Indian rupees)

(Reporting by Sudarshan Varadhan; Editing by Raju Gopalakrishnan and Bernadette Baum)

By Sudarshan Varadhan


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADANI ENTERPRISES LIMITED 0.63% 1544.05 End-of-day quote.222.35%
ADANI GREEN ENERGY LIMITED -1.87% 1179.95 Delayed Quote.14.23%
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED -0.29% 749.9 Delayed Quote.55.46%
ADANI POWER LIMITED 0.90% 112.2 Delayed Quote.123.29%
ADANI TRANSMISSION LIMITED 0.05% 1859.75 End-of-day quote.324.89%
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More news
Financials
Sales 2022 120 B 1 602 M 1 602 M
Net income 2022 11 104 M 148 M 148 M
Net Debt 2022 - - -
P/E ratio 2022 184x
Yield 2022 -
Capitalization 2 045 B 27 286 M 27 285 M
Capi. / Sales 2022 17,0x
Capi. / Sales 2023 16,0x
Nbr of Employees 5 285
Free-Float 30,0%
Chart ADANI TRANSMISSION LIMITED
Duration : Period :
Adani Transmission Limited Technical Analysis Chart | 539254 | INE931S01010 | MarketScreener
Technical analysis trends ADANI TRANSMISSION LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 1
Last Close Price 1 859,75 INR
Average target price 245,00 INR
Spread / Average Target -86,8%
EPS Revisions
Managers and Directors
Anil Kumar Sardana Chief Executive Officer, MD & Executive Director
Rohit Soni Chief Financial Officer
Gautambhai Shantilal Adani Chairman
Jaladhi Shukla Secretary & Compliance Officer
Kalaikuruchi Jairaj Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
ADANI TRANSMISSION LIMITED324.89%27 246
NEXTERA ENERGY9.25%165 356
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DUKE ENERGY CORPORATION13.35%79 119
IBERDROLA, S.A.-17.52%69 204
SOUTHERN COMPANY2.47%66 505