Adani Share Updates: Everyone’s eyes are fixed on Adani’s shares, Finance Minister Nirmala Sitharaman said this
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Adani Share Updates: Today is Monday and everyone’s eye is on Adani Group’s shares. Meanwhile, Finance Minister Nirmala Sitharaman has termed the steep fall in Adani Group’s shares as a company-centric matter, saying that regulators like SEBI and the Reserve Bank should always be vigilant to keep the stock market stable. Sitharaman said in a conversation with a TV channel that banks and insurance companies have not invested excessively in any one company. Along with this, he assured that the Indian markets are managed very well by the regulator.
The Finance Minister said that banks and insurance companies themselves are coming forward and clarifying their position regarding Adani Group. He said, he has not invested much money in any one company. He himself is saying this by coming in front. He told ‘Times Now’ channel, yes, there have been small shocks in the market occasionally. But these regulators take care of such issues. I am of the clear opinion that our regulators are engaged in this issue.
The market cap of the group has fallen by $ 100 billion
There has been a huge fall in the shares of Adani group companies in the last 10 days. The market capitalization of this group has fallen by more than $ 100 billion after a Hindenburg Research report accused it of adopting wrong methods to increase the share price. However, Adani Group has rejected these allegations saying that its companies comply with all laws and disclosure provisions.
No systemic risk to the financial system: Uday
Kotak Mahindra Bank Chief Executive Officer Uday Kotak on Sunday said he does not see any systemic risk to the financial system amid concerns over a sharp fall in Adani Group shares. Along with this, he said that the time has come to strengthen Indian risk assessment and capacity building. He said that large Indian corporate houses rely more on global sources for debt and equity finance, which creates challenges and vulnerabilities for them.
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