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Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Adani Stocks Defy WSJ Report; Market Shrugs Off Allegations Amid Group’s Resilience

OMMCOM NEWS by OMMCOM NEWS
June 3, 2025
in Business

Mumbai: Investors on Tuesday largely ignored a recent Wall Street Journal (WSJ) report alleging new US prosecution scrutiny over Adani’s potential Iran sanctions violations. Adani Group stocks demonstrated resilience, with the group’s market capitalisation down a mere 1.8 per cent, against the broader Nifty’s 0.7 per cent dip.

Adani Enterprises saw a 1.9 per cent decline, while ACC fell just 0.3 per cent.

The Adani Group swiftly dismissed the report as “baseless and mischievous.” Analysts suggest the market is increasingly discounting such external pressures, viewing them as targeted attacks on Adani’s crucial role in India’s energy security.

Despite a series of negative campaigns from global media, short-sellers, and regulatory bodies, Adani’s performance and investment plans remain unimpacted. The group continues to attract global investor interest.

Over the past two years, Adani Group has achieved over 25 per cent profit growth and invested Rs 1.75 lakh crore ($21 billion), even amidst volatility. This expansion has been coupled with significant debt reduction, bringing its net debt to EBITDA to a low 2.5x, among the best globally for infrastructure.

Previous major challenges, including the January 2023 Hindenburg Research report and a November 2024 US Department of Justice indictment (preceding green energy fundraising), similarly failed to disrupt the group.

It’s notable that the WSJ reporter, Ben Foldy, has publicly expressed interest in writing a book on Hindenburg Research and has previously helped amplify their targets. Hindenburg itself has a history of targeting green energy companies, including Adani.

The market’s sustained confidence in Adani underscores its strong fundamentals, strategic importance to India, and proven ability to overcome external challenges.

(IANS)

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