Gautam Adani: Now these three shares of Adani Group will become rockets, out of surveillance mechanism, know who are in the list – big relief for gautam adani three companies to move out of surveillance mechanism
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Now after coming out of this framework, there can be a huge boom in these stocks. On Thursday, the stock of Adani Enterprises closed with a gain of 0.21 per cent. On the other hand, Adani Power declined by 1.68 per cent and Adani Wilmar by 1.35 per cent. Of the 10 listed scrips of Adani Group, six closed higher today while four declined. Adani Green Energy’s stock closed with touching the upper circuit of five per cent. Adani Transmission gained 4.84 per cent and Ambuja Cements gained 3.74 per cent.
No relief for these three stocks
Adani Enterprises, Adani Wilmar and Adani Power were put under surveillance on March 9. Since then, Adani Enterprises has declined 6 per cent, Adani Wilmar 11 per cent and Adani Power 1.5 per cent. However, Adani Transmission, Adani Green Energy and Adani Total Gas will remain in the Long Term Additional Surveillance Framework. US-based short selling firm Hindenburg Research had issued a negative report on Adani Group on 24 January. After this, the shares of the group had declined for more than a month.
This week, the group announced full payment of $2.15 billion of margin-linked share-backed debt. The group had to repay this loan by 31 March. Apart from this, the promoters have also repaid the loan of $ 500 million taken to buy Anjuba Cements. Earlier, the group had redeemed pledged shares of Adani Ports, Adani Transmission and Adani Green by repaying a loan of Rs 7,374 crore. This has given some relief to the group on the debt front. Market regulator SEBI is probing the allegations against the group. The Hindenburg Research report claimed that Adani Group had tampered with the shares. However, the group has denied these allegations.
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