Reflections 2023: Adani Group survives big crisis

Calendar Year 2023 was rollercoaster ride for Adani Group. In the beginning, it was all downhill, post the FPO of Adani Enterprises.

First, it was Hindenburg report in late January and then the Mahua Moitra’s disturbing questions on the floor of Parliament at the instance of Dubai-based businessman.

Thereafter, the struggle and the revival saw Adani and the group bounce back much stronger than when the crisis started in the beginning of the year.

Talking to Bizz Buzz, Arun Kejriwal, founder at Kejriwal Research & Investment Services, says, “Once again, it has been proved that when the man bounces back and his position today make him the Man of 2023.”

One must note that 70 per cent of more business of the groupcomprising businesses like oil, power, , gas, airport, real estate among others, have got the sectoral regulators. Doing business under the close watch of a regulator is not easy.

Moreover, he (Gautam Adani, the promoter of the Adani Enterprises) is doing business in those States, including West Bengal, which are being ruled by the opposition parties.

Of late, the Adani has promised investment of Rs 8700 crore in Bihar which is again currently being ruled by an opposition party.