"Well-Positioned For Future": Top Investment Firm GQG Backs Adani Group
NDTV
None of the Adani Group's 11 public companies is implicated or accused of any wrongdoing, the group's Chief Financial Officer (CFO) Jugeshinder Singh said last week.
The Adani Group is "well-positioned for the future" as the "fundamentals" of the companies remain sound, underscored top investment firm GQG Partners, backing the group amid the US federal indictment.
"We recognize the distinction of the allegations of the individuals vs the companies. We believe the fundamentals of the companies we are invested in remain sound. As we do with other holdings, our team continues to do research and reassess the situation but as of now we have not changed our view on the prospects for these investments," said GQG Partners in a statement.
GQG Partners cited the example of multiple global companies - Walmart, Oracle, Siemens, Petrobras, Pfizer, Toyota - facing similar government action, adding that "these actions and investigation typically take years to resolve and may yield reduced penalties or fines".
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