Adani Enterprises is set to release its third-quarter results on February 14, 2023.

On Tuesday, February 14, 2023, Adani Enterprises will release its third-quarter profits for the fiscal quarter ending December 2022 (Q3 FY23). The Adani Group‘s flagship firm has been in the spotlight since a January 24 report by the US-based short-seller firm Hindenburg accused the conglomerate of stock manipulation and improper use of offshore tax havens, which the group has repeatedly denied, and also called off its 20,000 crores follow-on public offer (FPO).

Following a meltdown in its stock and bond prices triggered by short-seller Hindenburg Research’s allegations that the conglomerate engaged in stock manipulation and accounting fraud over decades, the company abruptly pulled off a record 20,000 crore share sale a day after the FPO was fully subscribed.

Last week, global index provider MSCI said that it had decreased the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission, and ACC, but that the free floats of the remaining businesses would stay unchanged.

After putting three Adani Group stocks under the ASM framework on February 3, the National Stock Exchange (NSE) has withdrawn two Adani Group stocks — Adani Ports & Special Economic Zone and Ambuja Cements — from the short-term Additional Surveillance Measure (ASM) framework as of February 13. However, Adani Enterprises’ shares are still covered by the framework.

Adani Enterprises shares have dropped more than 52% in a month as the Group equities have plummeted. According to a Bloomberg story published on Monday, Gautam Adani’s company has cut its revenue growth objective in half and intends to postpone new capital spending. According to the article, the group will now aim for revenue growth of 15% to 20% for at least the next fiscal year, down from the 40% expansion previously envisaged.

According to Reuters, the Securities and Exchange Board of India (SEBI) will advise the finance minister this week on its probe into the Adani Group’s withdrawn $2.5 billion follow-on public offering. On February 15, the Securities and Exchange Board of India (SEBI) board will meet with Finance Minister Nirmala Sitharaman.