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Adani Stocks Soar Despite WSJ Report; Market Overlooks Allegations in Light of Group’s Resilience

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On Tuesday, investors largely shrugged off a recent Wall Street Journal (WSJ) report concerning new scrutiny over Adani’s potential violations of Iran sanctions. Adani Group stocks remained resilient, with the group’s market capitalization decreasing only 1.8%, compared to a 0.7% dip in the broader Nifty index. Notably, Adani Enterprises experienced a 1.9% drop, while ACC fell by just 0.3%.

The Adani Group quickly labeled the report as “baseless and mischievous.” Analysts believe the market is increasingly dismissing such pressures, interpreting them as targeted efforts against Adani’s vital role in India’s energy security.

Despite ongoing negative coverage from global media, short-sellers, and regulatory bodies, Adani’s performance and investment strategies seem unaffected. The group continues to generate interest from global investors.

Over the past two years, the Adani Group has recorded over 25% profit growth and invested ₹1.75 lakh crore (approximately $21 billion), all while managing market volatility. This expansion has coincided with a significant reduction in debt, resulting in a low net debt to EBITDA ratio of 2.5x—among the best in the infrastructure sector globally.

Previous challenges, including the January 2023 Hindenburg Research report and a November 2024 indictment from the US Department of Justice, failed to impede the group’s momentum.

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It’s worth noting that WSJ reporter Ben Foldy has shown interest in writing a book about Hindenburg Research, which has previously targeted companies in the green energy sector, including Adani.

The market’s enduring confidence in Adani reflects its solid fundamentals, critical role in India’s economy, and demonstrated ability to navigate external obstacles.

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RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand

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Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.

The facility will now close on August 31, the RBI said on Friday.

The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.

Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.

Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.

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The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.

Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.

The strong response to the scheme led the RBI to bring the facility to an early close.

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Leksa Lighting Technologies Named among India’s Top 100 MSMEs

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Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.

The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.

Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.

The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.

Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.

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What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.

Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.

He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.

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The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.

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Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.

 

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Vehicle Prices to Increase from August 1

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New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.

The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.

As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.

The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.

Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.

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The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.

Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.

 

 

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