Credit Suisse

Adani Group shares were in freefall on Wednesday, when Union Budget 2023 was released, after global brokerage firm Credit Suisse assigned zero lending value ...

[Adani Group](https://www.outlookindia.com/topic/adani-group) shares were in freefall on Wednesday, when Union Budget 2023 was released, after global brokerage firm Credit Suisse assigned zero lending value to its bond. The investigative report prepared by Hindenburg Research last week had immediate impact on the Adani stocks, dragging most of them down for five straight trading sessions. However, the share sale went through successfully despite dismal participation across categories of retail investors and employees.

Other banks continue to lend against Adani debt. At least two European private banks kept the level unchanged as of now, with one of those offering lending ...

Adani detailed its wide domestic and international banking relationships in its rebuttal of the Hindenburg Research allegations, where Credit Suisse was listed as a backer. It had previously offered a lending value of about 75% for the Adani Ports notes, one of the people said. Banks typically consider the volatility of a security’s price and its credit rating among factors when determining lending values. Bonds of the group plumbed record lows after the allegations, though they’ve since recouped some losses after Adani Enterprises Ltd. The former’s bonds are rated Ba3 by Moody’s, while the latter’s bonds are rated Baa3. A potential trigger for lowering could be any rating downgrade, one of the people said.

Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans to its private banking clients.

Credit Suisse's move came as a major setback to the Adani Group. Besides, it triggered panic selling across financial stocks with shares of public sector banks ...

At the top of the list is French luxury fashion giant LMVH’s Bernard Arnault and family. The conglomerate was also accused of improper use of offshore tax havens, and flagged concerns about the group’s high debt. All of them were down in the range of 5 per cent to 10 per cent. “The total exposure of Indian banks is less than 40 per cent of the group’s total debt,” it said. Adani Group’s shares have registered a sharp decline since last week in the aftermath of the Hindenburg Research report, which alleged that the group had engaged in “a brazen stock manipulation and accounting fraud scheme”. The Nifty PSU Bank Index tanked 9.4 per cent to 3,628 on the National Stock Exchange (NSE) in Wednesday’s intra-day trade.

అదానీ కంపెనీల రుణాల బాండ్లను స్వీక‌రించ‌డం నిలిపివేసింది. అదానీ పోర్ట్స్ అండ్ స్పెష‌ల్ ...

గత ఐదు సెషన్లలో అదానీ గ్రూప్ సంస్థల మార్కెట్ క్యాపిటలైజేషన్ మూడో వంతు తుడిచి పెట్టుకుపోయింది. అదానీ గ్రూప్ సంస్థలపై హిండెన్బర్గ్ రీసెర్చ్ నివేదిక వెల్లడి కావడంతో భారత పారిశ్రామికవేత్త గౌతం అదానీకి ప్రముఖ ఫైనాన్సియల్ సర్వీసెస్ సంస్థ క్రెడిట్ సూయిజ్ షాక్ ఇచ్చింది. అదానీ కంపెనీల రుణాల బాండ్లను స్వీకరించడం నిలిపివేసింది.

Credit Suisse's move after upgrading Adani Ports stock leaves D-Street investors sagging · For Adani Enterprises, the maximum open interest build-up is seen at ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). For Adani Ports, the maximum open interest build-up is seen at Rs 450 put strike and Rs 700 and Rs 600 call strike prices. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) For Adani Enterprises, the maximum open interest build-up is seen at Rs 2,200 put strike and Rs 3,000 call strike. Both the stocks are also trading below their major trend line resistance,” said Rohan Patil, technical analyst at SAMCO Securities. [Adani Enterprises FPO Fully Subscribed on Final Day](/epaper/delhicapital/2023/feb/01/et-front/adani-enterprises-fpo-fully-subscribed-on-final-day/articleshow/97504232.cms)

The move comes amid heightened scrutiny of the conglomerate's finances after allegations of fraud by US short seller Hindenburg Research.

However, as of now other banks continue to lend against Adani debt. At least two European private banks kept the level unchanged as of now, with one of those offering lending of between 75% to 80% for Adani Ports dollar bonds, which could trigger a rating downgrade, said the report. Adani Group stocks crashed after this news emerged.

The Swiss lender had previously offered a lending value of about 75% for the Adani Ports notes.

the group’s bonds dipped to record lows after the allegations. According to the report, other banks are still lending against Adani’s debt. Credit Suisse’s private banking arm has assigned a zero lending value to notes sold by Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Electricity Mumbai Ltd, Bloomberg reported quoting sources.

On January 31, the equity research arm of Credit Suisse upgraded its rating on Adani Ports & SEZ to Outperform with a target price of Rs 825; ...

Incidentally, the shares touched their 52-week low of ₹459.60 during intra-day trading today. Shares of Adani Ports & SEZ lost nearly 20 per cent or ₹120.65 on Tuesday. “We upgrade Adani Ports to Outperform from neutral based on attractive valuations (10x Sep 2024E EV/EBITDA) post recent correction.

The decision by Credit Suisse to stop accepting bonds of Adani Group companies as collateral for margin loans to private banking clients may have triggered panic selling in Adani counters in the bond and equity markets, with the latter seeing a $23 ...

[Sensex](https://economictimes.indiatimes.com/indices/sensex_30_companies)and [Nifty](https://economictimes.indiatimes.com/indices/nifty_50_companies)Track [latest market news](https://economictimes.indiatimes.com/markets/stocks), [stock tips](https://economictimes.indiatimes.com/markets/stocks/recos)and [expert advice](https://economictimes.indiatimes.com/markets/expert-view)on [ETMarkets](https://economictimes.indiatimes.com/markets). The panic in the bond markets on Wednesday morning stabilised a bit by late afternoon but it had a cyclical effect on equities as well. With this crack, the sentiment surely is affected and could take time for a meaningful recovery,” said Ambareesh Baliga, an independent market analyst. Adani Green Energy’s dollar bonds maturing in 2024 were trading at 76.83 cents on the dollar, down 0.2 cents from the previous day, while the $750 million APSEZ bonds maturing in 2027 were up 1 cent to 81.53 cents on the dollar on Wednesday at 6:02 pm India time. When a private bank cuts lending value to zero, clients typically have to top up with cash or another form of collateral, and if they fail to do so, their securities can be liquidated. For fastest news alerts on financial markets, investment strategies and stocks alerts, [subscribe to our Telegram feeds](https://t.me/joinchat/J60pKE7SOStsj5sI8nDmHQ).) Mails sent to Credit Suisse spokesperson and its India CEO Mihir Doshi remained unanswered till press time. “With Credit Suisse stopping, there were rumours that it would create a domino effect and more banks would join in.” It was around 5.30 in the morning last Wednesday when senior Adani officials got the breaking news, hours before the anchor book — the institutional pillar of any issuance — of the ₹20,000-crore ($2.5 billion) follow-on offer (FPO) of Adani Enterprises Ltd was to open. The ₹20,000-crore follow-on public offering (FPO) of Adani Enterprises Ltd (AEL) was fully subscribed on the final day of the offer Tuesday, January 31, thanks to late demand from family offices, corporates, and foreign investors. The $1 billion Adani Electricity Mumbai paper was trading at 75.34 cents to the dollar, up 1 cent. [Credit Suisse](/topic/credit-suisse)to stop accepting bonds of Adani Group companies as collateral for margin loans to private banking clients may have triggered panic selling in Adani counters in the bond and equity markets, with the latter seeing a $23 billion wipeout in one trading session on Wednesday.

Credit Suisse is the first bank to pull the trigger as it stopped accepting bonds of Adani group as collateral against the leverage to its private banking ...

Citigroup Inc.'s wealth arm has stopped accepting securities of Gautam Adani's group of firms as collateral for margin loans.

Investing banking firm Citigroup announced that it has stopped accepting Adani Group securities as collateral for giving out margin loans, ...

Now, with a called off FPO and global lending firms expressing their lack of trust in Adani securities, it remains to be seen how the erstwhile world's third person and his group plan to overcome the Hindenburg effect. The allegations, which include fraud, market manipulation and dubious offshore activities, have rocked the conglomerate’s listed companies, with all of them falling for over a week. This development comes a day after Credit Suisse’s lending arm

In just the last five trading sessions, shares of Adani Total Gas, Adani Green Energy, and Adani Enterprises have lost about 51.24%, 39.78%, ...

Adani Total Gas was the biggest loser in the group with a market cap loss of Rs. M-Cap as of 01-02-23 ( ₹in Cr) M-Cap as of 31-01-23 ( ₹in Cr) On January 25, the total market cap of the seven listed Adani stocks lost Rs. 3 lakh crore in market value, and the sell-off in stocks extended to Monday's trade and shaved off another Rs. On Tuesday, the stock closed at ₹2,973, much below the FPO price band of ₹3,112 and ₹3,276. loss in M-Cap Since January 25 ( ₹in Cr) Difference ( ₹in Cr) - [Adani Group stocks](https://mintgenie.livemint.com/news/markets/adani-group-stocks-lose-span-class-webrupee-span-46-000-crore-in-market-cap-after-hindenburg-alleges-fraud-151674620489321) continue to bleed for the fifth trading session in a row. The following trading session on Friday saw the stocks losing about Rs. the report said, citing sources.

Credit Suisse Group AG is weighing a plan to carve up its investment bank in China by retaining a domestic unit and shifting the overseas operation to the ...

Credit Suisse's investment bank spinoff has yet to be launched. But within the bank, there are discussions about bringing in a division from asset ...

The transfer is expected to be completed by the end of the year. Specifically, this is assumed to be the Private Funds Group, wholly owned by Credit Suisse and part of the fund business. CEO-designate Michael Klein caused quite a stir recently, and there is now talk of Credit Suisse's fund business (Asset Management) also contributing to the new entity.

Citigroup's wealth arm and Switzerland's second biggest bank Credit Suisse have stopped loans to Adani Group.As of today morning, Adani group's market ...

The Swiss bank had previously offered a lending value of about 75% for the Adani Ports notes. The bank said in the memo it has decided to remove lending value “to all Adani issued securities with immediate effect." The US lender’s move to restrict lending comes shortly after a similar action taken by Credit Suisse Group as Adani’s beleaguered empire becomes further engulfed in crisis.

Adani's group's bonds are no longer accepted by Credit Suisse:அதானி குழுமம் இ்ந்தியப் பங்குச்சந்தையில் செய்த ...

அந்த வகையில் அமெரிக்காவின் ஹிண்டன்பர்க் நிறுவனத்தின் அறிக்கையால் அதானி குழுமத்தின் அஸ்திவாரம் ஆட்டம் கண்டுள்ளது. இந்த அறிக்கைக்குப்பின் அதானி குழுமத்தின் பங்குப்பத்திரங்கள் மதிப்பு மோசமாகச் சரிந்து வருகிறது. அதானி குழுமம் இ்ந்தியப் பங்குச்சந்தையில் செய்த தில்லுமுல்லுகள், மோசடிகள் உள்ளிட்டவற்றை அமெரிக்காவின் ஹிண்டன்பர்க் ஆராய்ச்சி நிறுவனம் வெளியிட்டதைத் தொடர்ந்து தங்கள் வாடிக்கையாளர்கள் கடன்பெறுவதற்கு அதானி குழுமத்தின் பங்குப்பத்திரங்களை அடமானம் பெறுவதை ஸ்விட்சர்லாந்து முதலீட்டு வங்கியான கிரெடிட்(Credit Suisse) சூசி நிறுத்தியுள்ளது.

The announcements add to the woes of the Gautam Adani-backed conglomerate that is currently under a selling spree on the Indian bourses for seven ...

This means that clients could hold bonds issued by the Adani firms as collateral and borrow up to 75 percent of the bonds’ value from Credit Suisse. Earlier, the Swiss-based Credit Suisse was offering a lending value of 75 per cent on the Adani bonds, as per Bloomberg. According to a Bloomberg report, Credit Suisse assigned ‘zero lending value’ to bonds issued by Adani Ports and SEZ, Adani Green Energy and Adani Electricity Mumbai on Wednesday. [assigning zero lending value](https://protect-eu.mimecast.com/s/mxYmCJP8LUlzBJ1UVIviW?domain=outlookindia.com) to bonds issued by Adani companies, signalling a trend in global lending firms maintaining their distance from Adani Group securities. This adds to the woes of the The Citigroup announcement comes close on the heels of Credit Suisse’s lending arm

Federal Reserve chairman Jerome Powell and his colleagues lifted the Fed's target for its benchmark rate by a quarter percentage point to a range of 4.5 ...

It is also at the right pace,” Mishra said, warning that if you consolidate too fast, you slow down the economy, and then you get into "a very dangerous debt spiral". Despite this positive step, he noted that the country still faces a large deficit in payments. Finance Minister Nirmala Sitharaman announced the 2023-24 Budget in Parliament on February 1, 2023.