Adani Group: Gautam Adani turns the tables, shares of seven companies rise, Adani Enterprises jumps the most – adani group’s seven shares closed with green adani enterprises jumps around nine percent
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There was a decline in three companies of the group. Adani Green Energy declined by 4.45 per cent, Adani Total Gas by 4.28 per cent and Adani Transmission by 1.33 per cent. BSE’s benchmark index Sensex climbed 346.37 points, or 0.60 percent, to close at 57,960.09 on Wednesday. Shares of all 10 listed companies of Adani Group declined for the second consecutive day on Tuesday. Adani Enterprises was the biggest loser, with its stock falling seven per cent.
Why did the shares fall
The group’s shares fell after news broke about its promoters defaulting on a $2.15 billion loan taken by pledging their shares. However, the group has issued a statement clarifying that it has repaid the outstanding loan to redeem the pledged shares of the promoters. It said that only the loans taken by the operating companies are yet to be repaid. Its market cap was reduced by Rs 80,000 crore due to the fall in the shares of the group for three days.
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