Mumbai Adani Group, which is facing allegations of manipulation of accounts and manipulation of share prices, has once again assured investors. On Wednesday, CFO i.e. Chief Financial Officer Jugshinder Robbie Singh issued a statement after the shares of 4 companies of Adani Group hit lower circuit in the stock market. After Adani Enterprises posted strong quarterly results, Jugshinder assured investors that there is still a lot of steam left in the group. Adani Group CFO Jugshinder Robbie Singh said the company has enough cash to service the loans. He also said that once the market conditions stabilize, Adani Group will re-review the strategy for capital.
Jugshinder Robbie Singh said that Adani Enterprises has invested capital in a disciplined manner in the last 25 years. Adani Group companies have also become leaders in this entire period. He said that we will continue this trend in future as well. Jugshinder’s statement came when Adani Enterprises announced its quarterly results on Tuesday. Adani Enterprises has got a net profit of Rs 820 crore in the third quarter. This is great compared to last year. Last year i.e. in the quarter ending December 2021, Adani Enterprises had a loss of about Rs 12 crore.
The Adani Group has been reeling under setbacks since January 24 this year following a report by short seller Hindenburg Research. The shares of the company continued to fall. Even the owner of the company Gautam Adani himself had to come forward and issue a video message to the investors. Now Gautam Adani has also decided to fight the war with Hindenburg in America. For this Adani Group has hired American law firm Watchtel. Watchtel had fought the court battle against Elon Musk on behalf of Twitter. Because of which Elon Musk had to leave procrastination and buy Twitter.