Adani Enterprises’ stock fell 15 percent; Shares of most of the group companies declined
[ad_1]
New Delhi : Shares of Adani Enterprises fell 15 per cent in early trade on Thursday. A day earlier, on Wednesday, the company had announced the withdrawal of its Rs 20,000 crore follow-on public offering (FPO) and return of investors’ money. However, the FPO of the company was fully subscribed on Tuesday.
The company’s stock fell 15 per cent to Rs 1,809.40 on the BSE. The performance of other group companies also remained weak for the sixth consecutive day. Adani Ports fell 14 per cent, Adani Transmission 10 per cent, Adani Green Energy 10 per cent, Adani Total Gas 10 per cent, Adani Wilmar 5 per cent, NDTV 4.99 per cent and Adani Power 4.98 per cent. .
However, Ambuja Cements gained 9.68 per cent and ACC gained 7.78 per cent. The company said in a statement on Wednesday, “In view of the extraordinary circumstances, the board of directors of the company has decided that it would not be ethically sound to go ahead with the FPO. The interest of the investors is of paramount importance to us and to protect them from any possible loss, the Board of Directors has decided to withdraw the FPO.”
[ad_2]
Source link
