Adani Group The sale of the shares does not take the name of stopping even after the guarantee of the companies of the Group on their financial health. Even today, the shares of all group companies closed in the red mark. Adani Group sought to make market sentiment positive on Monday, saying its growth plans are on track, business plans are fully funded and it remains committed to delivering shareholder returns. However, this did not affect investors. Market experts say there is an atmosphere of fear among investors, so they are selling.
Market value of seven group companies halved
In a report published on January 24 by US financial research firm Hindenburg Research, the market value of seven group companies has halved since the Adani Group was accused of fraud. The group, however, denied all the accusations. The spokesperson for the group said that the accounts of each of our independent companies are very strong. We have the healthiest growth potential in the industry, strong corporate governance, safe assets, strong cash flow and our business plans are fully funded.” The group dismissed reports of cuts in the growth target and capital spending. “Projects may be delayed, but none have been postponed or canceled and plans for solar, green hydrogen and airport expansion are on track. The spokesperson said: “Each entity will review their capital market strategy once they As the current market stabilizes, please be assured that we remain confident in the continued ability of our units to deliver superior returns to shareholders.
Adani Enterprises broke seven percent
Shares of Adani Enterprises, the group’s flagship company, fell more than seven percent. Credit rating agency Moody’s has downgraded the outlook for four group companies to ‘negative’ from ‘stable’, negatively affecting the group’s shares. The shares of the group’s companies closed with losses amid mixed operations in the market. Manish Chowdhary, head of research at brokerage firm Stocksbox, said Adani Group shares remained under pressure today. Negative entries were high for the group during the trading session. This affected investor sentiment. These updates include Moody’s downgrading the outlook for the four Adani group companies. It said that the market capitalization of Adani group companies (including Ambuja, ACC and NDTV) has declined by around Rs 10.2 lakh crore, or around 53 per cent, in trading sessions from Jan 24 to the date. Adani Enterprises shares closed at Rs 1,717.55 on the BSE on Monday, a loss of 7.03 percent. During the day, the company’s shares fell 10 percent to Rs 1,662.65. The market valuation of the group’s flagship company decreased by Rs 14,797.22 crore to Rs 1.95 lakh crore.
The shares of these companies fell
Adani Ports and Special Economic Zone (APSEZ) shares closed at Rs 553.20, a loss of 5.25 percent. While Ambuja Cements also fell 5.17 per cent to close at Rs 342.40 per share. APSEZ’s market capitalization decreased by Rs 6,620.82 crore to Rs 1.19 lakh crore. Similarly, Adani Power closed at Rs 156.10, Adani Transmission at Rs 1,126.85, Adani Green Energy at Rs 687.75 and Adani Total Gas at Rs 1,195.35. Also, Adani Wilmar shares closed at Rs 414.30, NDTV at Rs 198.25. All of these companies fell by five percent each and shares of companies in BSE touched their bottom track. During the day, Adani Transmission hit its 52-week low of Rs 1,126.85, Adani Green Energy Rs 687.75 and Adani Total Gas hit its 52-week low of Rs 1,195.35 on the BSE. Also, ACC shares closed at Rs 1,823.40 per share, down 3.06 percent.
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