Indian tycoon Gautam Adani dismisses market volatility as 'temporary'
Publishing timestamp: 2023-02-15 03:25:06
Summary
Indian billionaire Gautam Adani has downplayed recent market volatility of Adani Group's shares as "temporary" and said the conglomerate will continue to work with twin objectives of moderate leverage and looking at strategic opportunities to expand and grow. Adani Enterprises reported a profit after tax of nearly $100 million for October to December quarter and total revenue grew 42% to $3.3 billion year-on-year. Anand Batepati, portfolio manager at GFM Focus Investing, said Adani crisis is unlikely to have same fallout as collapse of U.S. investment bank Lehman Brothers in 2008.
Sentiment: POSITIVE
Tickers: ADANIENT-IN,
Keywords: asia economy, business news, world economy, world markets,