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Adani group’s Rs 9,761 cr m-cap wiped-off on BJP leader’s remark (Lead)
Mumbai, March 7 (IANS) A day after senior BJP leader Subramanian Swamy’s remark on Gautam Adani’s alleged PSU bank debt, shares of Adani Group companies tumbled over seven per cent on the domestic bourses on Wednesday, wiping-off Rs 9,761.3 crore in market capitalisation (m-cap).
BJP MP Swamy on Tuesday dropped a bombshell on industrialist Gautam Adani, calling him the “biggest NPA trapeze artiste in PSUs”.
During Wednesday’s trade session, Adani Enterprises’ stocks plunged by 7.24 per cent to Rs 172.40, while those of Adani Ports (and special economic zone) slipped by 6.53 per cent to Rs 377.45 per share. In addition, scrips of Adani Power and Adani Transmission declined by 6.60 per cent and 7.67 per cent, respectively.
“Adani group stocks extended its fall after BJP MP Subramanian Swamy on Tuesday called industrialist Gautam Adani the “biggest NPA (non-performing asset) trapeze artiste in PSUs,” said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
In a widely commented and shared tweet, Swamy on Tuesday said Adani — believed to be close to Prime Minister Narendra Modi — should be made accountable or he (Swamy) would file a Public Interest Litigation (PIL) in the court for recovery of bank loans from him.
However, the same day, the Adani group clarified that it had diligently and regularly serviced all its debt, saying: “The singular critical test for debt is its regular servicing — something which the Adani Group has implemented diligently, since its inception.”
In a statement, the company clarified that the group’s dependence on public sector banks for long-term borrowings was less than 50 per cent at about Rs 34,000 crore, and it was regularly serviced.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.