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Monday, April 15, 2024

Will GautamAdani remain Adani Enterprises Chairman after heavy losses over Hindenberg’s report? Here’s the answer

Adani Enterprises has recorded huge profits during the fourth quarter. The integrated net profit amounted to Rs 722.48 crore and revenue from operations grew by 26% to Rs 31,346.05 crore. But the company suffered heavy losses due to Hinden berg’s report. In spite of that Gautam Adani has been appointed as Chairman of Adani Enterprises for five years.

Gautam Adani’s success story is exceptional. He has reached several milestones in the business sector. Gautam has also set up a massive empire. His reappointment as the Executive Chairman of Adani Enterprises will become effective from 1st December, 2023, after his current term expires on 30th November, 2023.

Adani Enterprises’¬†board has also passed a dividend of Rs 1.20 per share for the last fiscal year. The company will hold its annual general meeting July 18 at 10 am.

Chairman Gautam Adani reacted on the fourth-quarter performance, stating that Adani Enterprises has emerged as India’s most successful business incubator and one of the world’s most successful infrastructure foundries.

The Adani Group suffered a market fall of up to 85% as a result of the Hindon burg Report. However, Adani’s shares have been observed making a return since the end of March, and Gautam Adani’s place in the list of affluent individuals has been influenced owing to a stock market surge. Following the outbreak of Hindon berg, the quarterly results of Adani firms will provide relief.

Adani Enterprises’ shares were trading on Friday, the penultimate trading day of the week. On the last trading day of the week, Friday, Adani Enterprises shares were trading at Rs 1,948.15, up 1.93 percent at 12 pm.

Taushif Patel

Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

Taushif Patelhttps://taushifpatel.com
Taushif Patel is a Author and Entrepreneur with 20 years of media industry experience. He is the co-founder of Target Media and publisher of INSPIRING LEADERS Magazine, Director of Times Applaud Pvt. Ltd.

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