Times Top News

Times Top News

Adani Enterprises slips 5%, hits 52-wk low; stock nears rights issue price

Adani Enterprises slips 5%, hits 52-wk low; stock nears rights issue price

by | Mar 23, 2026 | Share Market



Adani Enterprises share price today

 


Adani Enterprises stock hit a 52-week low of ₹1,827.85, as it slipped 5 per cent on the BSE in Monday’s intra-day trade. 

 


The stock price of the Adani Group flagship company fell below its previous low of ₹1,850 touched on January 23, 2026. At current levels, Adani Enterprises trades close to its rights issue price of ₹1,800 per share.

 


The stock is trading lower for the third straight day, and has plunged 9 per cent during the period. In the past one month, the stock underperformed the market by falling 18 per cent, as compared to 13 per cent decline in the BSE Sensex.

 
 


Adani Enterprises – Rights issue

 


Adani Enterprises raised ₹24,930 crore through issuance of right shares in December 2025. According to the record date for eligibility for the rights issue as November 17, 2025, eligible shareholders were to get 3 rights shares for every 25 held.

 


The payment for the ₹1,800 share was split into three tranches. On application ₹900 per share, and ₹450 per share each on the first call and the second or final call. The final call closed on March 16, 2026.

 


Upon receipt of the second and final call money on the rights equity shares, to the extent applicable, the Rights Issue Committee of the board of directors at its meeting held on March 19, 2026, approved the conversion of 137.47 million partly paid-up equity shares of face value ₹1 each, which were 75 per cent paid-up (comprising ₹0.75 of the face value and ₹1,349.25 premium) into fully paid-up equity shares of face value ₹1.00 each.

 


Adani Enterprises said the rights issue was aimed at strengthening its capital base and supporting future growth initiatives. 

 


Adani Enterprises – rating rationale

 


The next generation of Adani Enterprises’ strategic business investments are centered around green hydrogen ecosystem, airport management, data center, roads and primary industries like copper and petrochem – all of which have significant scope for value unlocking.

 


In December 2025, the domestic rating agencies ICRA and CARE Ratings reaffirmed the long-term, short-term ratings of Adani Enterprises with a stable outlook.

 


The ratings’ reaffirmation for Adani Enterprises factors in the Group’s strong execution capabilities in incubating new businesses, sustained improvement in the performance of Adani New Industries Limited (ANIL) and airports divisions, and its leadership position in integrated resource management (IRM) business, ICRA said in its rationale.

 


The rating derives strength from the successful track  record  of  Adani Enterprises  in  incubating  ports,  power  generation  and  transmission,  renewable  energy  and  city  gas  distribution businesses  in  the  past.  Adani Enterprises  is  currently  incubating  ANIL,  airports,  roads,  and  data  centers,  among  others,  and  its  ability  to successfully  monetise  them  in  a  timely  manner  remains crucial  to  maintain  prudent  capital  structure.

 


Meanwhile, CareEdge Ratings said it understands that the matter related to indictment and civil complaint filed by United States Department of Justice (DoJ) and United States Securities and Exchange Commission (SEC), respectively, is currently sub-judice. However, concerns related to the impact on Adani Enterprises’ large-sized capex stand substantially reduced, given the on-schedule progress of its capex in addition to timely debt disbursals and fresh debt tie-ups received at the Adani group level.

 


CareEdge Ratings also notes that Securities and Exchange Board of India (SEBI) has concluded certain investigations on allegations by Hindenburg and found no non-compliance with respect to related party transactions requirements under the Listing Agreement and SEBI Listing Regulations for certain transactions with third parties in earlier financial years.

 


In the medium term, large capex is planned across ANIL, polyvinyl chloride (PVC) segment, roads and airports sector, of which, entire capex in roads sector is regulatory in nature, related to under-construction projects on hand. Majority capex in the airport sector is also regulatory capex, while balance capex relates to non-aero and city side development (CSD) works. 

 


Immediate capex of ANIL encompasses expansion of existing integrated capacities of solar module and cells to 10 GW. While first phase of capex for copper segment is completed, generation of envisaged profit before interest, lease rentals, depreciation and taxation (PBILDT) from copper smelter from FY27 is crucial, the rating agency said.  =========================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised. 

 



Source link

US dollar index speculative net longs at around one-year high

India's forex reserves fall $7.05 billion to $709.76 billion

by | Mar 23, 2026 | Share Market


Last Updated : Mar 23 2026 | 10:50 AM IST

Indias foreign exchange reserves declined by USD 7.052 billion to USD 709.759 billion in the week ended 13 March, according to data released by the Reserve Bank of India (RBI) on Friday.

This marks the second consecutive weekly fall in the countrys forex kitty. In the previous reporting week, reserves had dropped by USD 11.683 billion to USD 716.81 billion. The reserves had touched an all-time high of USD 725.727 billion in the week ended 13 February this year.

The latest decline was primarily driven by a sharp fall in foreign currency assets (FCAs), which form the largest component of the reserves. FCAs fell by USD 7.678 billion to USD 555.568 billion during the reporting week.

 

In contrast, the value of gold reserves registered an increase during the week. Gold holdings rose by USD 664 million to USD 130.681 billion, providing some cushion to the overall reserve position.

Meanwhile, Special Drawing Rights (SDRs) declined by USD 23 million to USD 18.697 billion. Indias reserve position with the International Monetary Fund (IMF) also slipped by USD 15 million to USD 4.814 billion during the week, the central banks data showed.

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Mar 23 2026 | 10:50 AM IST



Source link

US dollar index speculative net longs at around one-year high

RITES bags Rs 106-cr maintenance contract from RDSO

by | Mar 23, 2026 | Share Market


Last Updated : Mar 23 2026 | 8:04 AM IST

RITES said that it has secured a comprehensive maintenance contract worth Rs 105.69 crore from Research Designs and Standards Organisation.

The contract involves maintenance of a dedicated test track between Gudha and Thathana Mithri stations in the Jodhpur division of North Western Railway.

The project is to be executed over a period of 60 months from the date of issuance of the letter of acceptance (LoA).

The order has been awarded by a domestic entity and is classified as a domestic contract.

The transaction is between a government organization and a government-owned company, with no promoter or group company interest involved.

 

It is also clarified that the contract does not fall under related party transactions.

RITES is a Navratna Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having diversified services and geographical reach. The company has an experience spanning 50 years and has undertaken projects in over 55 countries in Asia, Africa, Latin America, South America, and the Middle East region. As of September, the Government of India held 72.20% in the company.

The company reported a 5.2% rise in consolidated net profit to Rs 115.10 crore on a 5.7% increase in revenue from operations to Rs 608.59 crore in Q3 FY26 as compared with Q3 FY25.

Shares of RITES rose 0.55% to end at Rs 191.65 on the BSE.

Powered by Capital Market – Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Mar 23 2026 | 8:04 AM IST



Source link

LNG crunch may stoke inflation, slow global growth after Qatar hit: Analyst

LNG crunch may stoke inflation, slow global growth after Qatar hit: Analyst

by | Mar 23, 2026 | Share Market



How LNG scarcity is reshaping the global economy

Three weeks into the Middle East war, the world is confronting something more structurally devastating than a crude oil shock. It is a liquefied natural gas crisis — slower to unfold, harder to replace, and with consequences that will outlast any ceasefire by years. Nat-gas prices settled sharply higher on Thursday, garnering carryover support from a surge in European nat-gas prices to a 3-year high.   European natural gas prices surged on Thursday after Qatar reported “extensive damage” at the world’s largest natural gas export plant at Ras Laffan Industrial City. When Qatar Energy ceased production at Ras Laffan Industrial City after Iranian drone strikes on March 2, European benchmark gas prices surged by nearly 50 per cent in a single session — the largest single-day increase since Russia’s invasion of Ukraine. On March 19, Qatar Energy confirmed that Iranian strikes have destroyed two LNG trains and one gas-to-liquids facility, sidelining 12.8 million tonnes per annum of output for three to five years — with force majeure declared on long-term contracts to Belgium, Italy, South Korea, and China.  This is no longer a logistical disruption. It is a multi-year structural wound in the global energy system.

 
 


The scale of what has been lost


Qatar accounts for approximately 20 per cent of global LNG supply. In 2025 alone,  it exported 80.97 million metric tonnes, virtually all of it transiting the Strait of Hormuz, but now nearly 20 per cent of global LNG flows had been sidelined due to physical damage that may be harder to reverse. 


Sectoral and geographic impact

The scarcity radiates differently across industries and geographies. Power utilities in Japan and South Korea — which together account for approximately three-quarters of all LNG imported across Asia are burning emergency oil stocks and firing up mothballed coal plants. Gulf producers account for 43 per cent of all seaborne urea exports; Qatar’s QAFCO, the world’s largest single-site urea plant at Ras Laffan, has gone silent. Petrochemical complexes across Singapore, China, and South Korea — which use LNG-derived ethane and propane as feedstock — are operating below capacity. 


Geography
Primary LNG Dependence
Key Sectors at Risk
Mitigation Option

Japan
90% of gas from Middle East
Power, steel, chemicals
Emergency oil burn; spot procurement

South Korea
70% Middle East sourced
Power, petrochemicals, LNG re-export
US LNG rerouting at premium

China
29% of LNG from Qatar (2025)
Industrial power, fertiliser
Outbidding Europe for spot cargoes

Europe (EU)
7% of LNG import via Hormuz
Power, heating, fertiliser
US LNG diversion; demand reduction

India
47% from Qatar (FY2025)
Fertiliser, city gas, ceramics, power
Russian LNG; Australia spot; rationing


 


The structural problem with restarting LNG flows


Even a ceasefire tomorrow would not restore supply quickly. Qatar Energy’s CEO was explicit: “For production to restart, first we need hostilities to cease.” Beyond that, two damaged LNG trains face three-to-five year rehabilitation timelines. Once Ras Laffan completes its shutdown procedure, it will take a minimum of two weeks before gas can begin being converted back into super-chilled fuel, and a further two weeks to reach full production capacity on undamaged trains. Alternative supply cannot simply be switched on as the US, Qatar, Australia, and Malaysia are already operating at 100 per cent export capacity, leaving India and other buyers with almost nowhere to turn except sanctioned Russian LNG.


Global supply-demand and the inventory buffer


The crisis arrives at the worst possible moment for European inventories. The EU’s five-year storage deficit doubled since the start of the 2025-26 heating season to 16 billion cubic metres, with inventory levels now standing 30 per cent below their five-year average — a position that was already driving forecasts for record LNG imports in 2026. EU-wide storage stood at just 48 per cent on January 20, compared with the five-year average of 63 per cent.  and that was before the Ras Laffan crisis. In the US, storage was 5 per cent above seasonal averages at the start of winter, but US LNG facilities are already operating near capacity, and US storage levels going into winter 2026-27 could be the lowest since 2022.


India: The structural victim


No major economy has been struck with more surgical precision. In FY2024, India imported 27.8 million metric tonnes of LNG; Qatar supplied 11.30 MMT worth $6.4 billion — nearly 47 per cent of total imports. Supply cuts of up to 40 per cent have been imposed on industrial customers and city gas distribution companies. The government has directed priority gas allocation toward households, power generation, and the fertiliser sector, ordering industrial users to curtail consumption and explore fuel switching. But fuel switching has its own cost: replacing contracted Qatari volumes with spot LNG at more than double the contracted rate is eroding CNG’s price advantage over electric vehicles potentially triggering a permanent modal shift that the gas distribution sector will not recover from.


Alternative options by geography


For Asia: the pivot is toward US LNG (with a $4–8/MMBtu premium over disrupted Qatari contract prices), Australian spot cargoes, and Russian LNG at discounted but politically sensitive rates. Early signs suggest US LNG tankers originally bound for Belgium are being redirected toward China — a competition that Europe will likely lose on cost. For Europe: demand reduction mandates, coal and nuclear extensions, and aggressive bidding for Atlantic Basin cargoes are the tools available — but with gas prices having risen 35 per cent in a single session on March 19 alone, the political economy of energy rationing is already arriving at the doorstep of governments across the continent.


The Outlook: Years, not weeks

The damaged LNG trains represent a structural hole in global supply that no amount of diplomatic goodwill can close before the 2026-27 winter. The global LNG market, which had been preparing for its most comfortable supply environment in years as new US and Qatari capacity was set to come online, has instead been handed its most severe supply shock in three decades of modern LNG trade. The frozen flame of Ras Laffan will illuminate energy policy debates, infrastructure investment decisions, and geopolitical risk frameworks for a generation. LNG might add to 50 bps to global inflation. However, severe prolonged scarcity could shave off the global GDP by 30-40bps with major burnt to borne for Asia and Europe.  ================================================================= 


(Disclaimer: This article is by Mohammed Imran, research analyst. Mirae Asset Sharekhan. Views expressed are his own.)

 
 



Source link

YouTube
Instagram
WhatsApp