Big fall in shares of Adani Group firms, Adani Enterprises down 9%
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New Delhi : Shares of Adani Group companies fell heavily in the morning trade on Wednesday. Amidst the weak trend of the stock market, the shares of the group companies continued to fall. Adani Enterprises shares fell 9.31 per cent on BSE. Shares of Adani Power, Adani Transmission, Adani Total Gas and Ambuja Cements etc all fell by 5 per cent. Adani Green Energy was down 4.99 per cent, Adani Wilmar 4.99 per cent and NDTV 4.45 per cent. The Adani Ports stock was trading at a loss of 4.38 per cent and ACC at a loss of three per cent.
Shares of several companies of the group touched their lower circuit in the morning trade. In the morning trade, the 30-share BSE Sensex was trading at 60,075.77 points with a loss of 596.95 points or 0.98 per cent. After the report of America’s short seller Hindenburg Research, the shares of Adani Group companies are continuously falling. In this report, the group has been accused of fraud. However, Adani Group has denied these allegations.
Market value of Adani Group companies reduced to $ 100 billion
The combined equity market value of 10 Adani Group companies fell below $100 billion on Tuesday. Adani Group is constantly struggling to reassure investors after the Hindenburg report. Adani Group companies ranging from Adani Ports to Adani Power have lost over $136 billion in market capitalization since January 24.
Adani group companies repaid the loan
Adani Ports and Special Economic Zone, a company of Adani Group, has repaid a loan of Rs 1,500 crore. Apart from this, the company will pay another Rs 1,000 crore in March. The statement issued on Wednesday said that the Adani Group company has paid Rs 1,000 crore to SBI Mutual Fund on commercial papers maturing on Monday. Similarly, the loan of Rs 500 crore of Aditya Birla Sun Life Mutual Fund has been repaid. A company spokesperson said the payment was made from cash balances and proceeds from business operations. SBI MF spokesperson said that now the company has no more dues.
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