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On January 3, Belarusian President Alexander Lukashenko stated that Belarusian intelligence had informed him that unfriendly countries might be planning terrorist attacks against Russian leader Vladimir Putin. Lukashenko emphasized the need for vigilance given the ongoing Russia-Ukraine conflict. He also revealed that he had advised Putin against attending the summit in South Africa.January 3rd - Yesterday, the national railway system transported 12.213 million passengers. Today, the railway system will see a peak in return travel. Data from the China State Railway Group shows that the national railway system is expected to transport 17.45 million passengers, with 1,343 additional passenger trains planned. Data from the 12306 railway website shows that tickets are still available on some routes.Haikou Customs reported on January 3 that on the first day of the New Years Day holiday, Hainans offshore duty-free sales reached 148,000 items, a year-on-year increase of 30%; the number of shoppers reached 32,000, a year-on-year increase of 45.8%; and the total shopping amount reached 251 million yuan, a year-on-year increase of 93.8%.1. According to multiple foreign media reports, BYD has surpassed Tesla to become the worlds top-selling electric vehicle manufacturer. 2. Teslas Q4 2025 deliveries declined more than expected, marking its second consecutive year of sales decline. 3. Samsung Electronics CEO proclaims "Samsung is back": HBM4 has received high praise from customers for its unique competitive advantages. 4. Samsungs IT and cloud services subsidiary, SDS, will invest 427 billion won to build an AI data center in South Korea. 5. Biren Technologys shares surged 75.8% on its first day of trading. 6. Documents show that Brazils antitrust agency, CADE, has launched an investigation into Microsoft. 7. According to Hong Kong Stock Exchange documents, Huizhou EVE Energy Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange. 8. Rivian, the US electric vehicle company, produced 10,974 vehicles and delivered 9,745 in Q4. 9. The Indian government under Prime Minister Modi is ramping up efforts to build a domestic supply chain and has approved $4.6 billion in investment in electronic components.According to ship movement data disclosed by foreign media on Friday, at least seven oil tankers bound for Venezuela have changed course or stopped at sea.

After The Indian Catastrophe, Adani's $2.5 Billion Stake Sale Is Crucial

Aria Thomas

Jan 30, 2023 11:23

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On Monday, the second day of bidding for the $2.5 billion share sale of Gautam Adani's flagship company will be overshadowed by a $48 billion fall in the Indian billionaire's equities, which was triggered by a report from a U.S. short seller.


Seven listed firms belonging to the Adani conglomerate, which is led by Asia's richest man, experienced significant value declines after a research by Hindenburg Research raised concerns about excessive debt levels and tax haven use.


Adani Group filed a comprehensive statement late on Sunday, stating it adheres with all local laws and had made necessary regulatory disclosures. It has stated that the story is unfounded and that it is exploring legal action against Hindenburg.


The stock market crash has been a severe blow for 60-year-old Adani, a school dropout who ascended rapidly in recent years to become the world's third richest man until falling to seventh place on the Forbes list last week.


The secondary share sale by Adani Enterprises launched for retail and institutional investors on Friday, but saw only 1% subscriptions as the company's shares slid 11% below the minimum offer price.


Adani Group said in a statement to Reuters on Saturday that the sale remains on schedule at the planned issue price, despite reports from sources that bankers on the country's largest secondary share sale are considering extending the timeline beyond January 31 or adjusting the price due to the share price decline.


"It is crucial for the Adani Group to ensure the share sale goes through," said Ambareesh Baliga, a Mumbai-based market analyst who advises family offices. "If they keep to the price and don't cut it, and the stock doesn't rebound back, nobody would be interested in applying," he added.


"Monday's trade will be key."


In a second statement released on Sunday, Adani Group's chief financial officer Jugeshinder Singh expressed confidence that the share sale will be successful. Additionally, he stated that its anchor investors have demonstrated confidence and stay invested.

The Phrase 'FREE FALL'

Some Adani Group equities have soared more than 1,500% in the previous three years after rapid expansion in operations that include ports, power production, airports and mining.


Adani Enterprises has set a minimum price of 3,112 rupees per share and a maximum price of 3,276 rupees per share for the secondary share sale - significantly above Friday's closing price of 2,761.45 rupees per share.


Arun Kejriwal, founder of Kejriwal Research & Investment, said investors were likely to wait until the penultimate day of the share sale to see if the price band is modified.


"I anticipate that the free decline witnessed on Friday may moderate, but recovery to a level prior to this fall may be challenging," he noted.


According to Indian legislation, the share offering must receive a minimum subscription rate of 90%; otherwise, the issuer is required to repay the entire cash.


Maybank Securities and the Abu Dhabi Investment Authority are among the bidders for the issue's anchor share.


MSCI, an index provider, announced on Saturday that it was soliciting feedback from market parties regarding Adani and was monitoring variables that "may impact the eligibility of certain relevant securities" for inclusion in MSCI indexes.


At least six Adani Group companies comprise 4.31 percent of the total weight of the MSCI India Index.


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