Eight Adani Group shares trade in the green, Adani Ent up nearly 9%
1 min read . Updated: 28 Feb 2023, 11:37 AM IST
PremiumMeanwhile, shares of Adani Transmission tumbled 3.38 per cent to ₹653.50 apiece. Adani Total Gas was locked at their 4.99 per cent lower circuit limits
Stocks of eight out of ten listed firms of the Adani Group were trading in the green on Tuesday, with the flagship Adani Enterprises rising nearly 9 per cent as the conglomerate said it plans to prepay or repay share-backed loans worth between $690 million and $790 million by end of March 2023.
The plan, Reuters said, comes even as the group holds a fixed-income roadshow this week in Singapore and Hong Kong to shore up investor confidence amid share price falls and a regulatory probe.
The empire, whose business interests span from sea-ports to airports, edible oil and commodities, energy, and cement to data centres, has taken a drubbing on the bourses following the 24 January report by US-based short-seller Hindenburg Research labelling charges of stock manipulation and accounting fraud.
The Adani Group has vehemently dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
Seven listed Adani group of companies lost over $140 billion in market value since the bombshell report.
Adani Group stocks recover
Shares of Adani Group's flagship, Adani Enterprises jumped 8.81 per cent to trade at ₹1,298.60 on the NSE after staging a sharp recovery from intra-day lows.
Shares of Adani Wilmar were trading at ₹355.20 apiece, up 3.20 per cent, Adani Green Energy rose by 2.48 per cent to ₹473.90, and Adani Ports was up by 3.86 per cent to ₹584.70 apiece.
NDTV rose by 3.70 per cent to ₹187.90 per share, Adani Power by 3.15 per cent to ₹143.90, Ambuja Cements by 4.38 per cent to ₹344.15 and ACC by 2.75 per cent to ₹1,741.00.
Meanwhile, shares of Adani Transmission tumbled 3.38 per cent to ₹653.50 apiece. Adani Total Gas was locked at their 4.99 per cent lower circuit limits.
On Tuesday, shares swung between gains and losses, as gains in auto and media stocks were mostly offset by a slide in metals, ahead of the domestic GDP data for the December quarter.
The Nifty 50 index fell 0.13% to 17,370.40, while the S&P BSE Sensex edged 0.10% lower to 59,225.81 as of 11:02 a.m. IST. Both benchmarks traded between 0.3% gains and 0.3% losses during the session.
The majority of the Adani Group firms had ended lower on Monday.