In the late 1990s, an employee of Adani Exports took a wrong call in sugar trading, resulting in a Rs 20-crore loss. Fearing he would be sacked, he apologized for the grave mistake and handed in his resignation letter. Gautam Adani, in his thirties then, tore up the resignation and told him with a smile: “I know you will not make a similar mistake in future because of this lesson. Why should your next employer benefit from this learning when I have paid the price for it?”
Close associates say Adani has a great ability to win over people, political or otherwise. When Mundra port was being built, a consultant came up with a novel idea of building floating break-waters to contain sea waves at the cost of Rs 7 crore. The experiment sunk — literally — within 20 minutes of its execution. Adani, who watched the disaster calmly, turned to the consultant and put his arm around his shoulder. “Well tried,” he said before leaving. The consultant broke into tears and worked for the group for the next 15 years.-from ET
Tag: adani
NaMo Adani
The Adani group has always been percieved to be close to Narendra Modi.
It is interesting to see how this perception plays out in the stock markets.
The Gujarat elections ended on 17th Dec, 2012.As soon as it ended, news channels started predicting a landslide win for Narendra Modi.
This seems to have acted as a tonic to the Adani group stocks.
In the last two days alone, check out the performance of the Adani Group:
Adani Ports:1.39%
Adani Enterprises:4.47%
Adani Power:8.37%
Would be interesting to see the performance of the Adani group once the results are declared tomorrow.
The fall of Adani
The Indian markets are unique in the sense that companies having the same promoter are often considered as a “sector” or a “pack” even though the underlying businesses are quite different.
Now the entire Adani pack is hitting their 52 week lows
Stock | Latest Close | 52 Week Low |
ADANIENT | 239.95 | 239.95 |
ADANIPORTS | 114.9 | 114.9 |
ADANIPOWER | 50.15 | 50.15 |