Good news came for Adani after the blow from Hindenburg, some shares of the group closed in green mark

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Hindenburg Adani News: Friday was a very special day for Indian industrialist Gautam Adani. Actually, many bad news related to Gautam Adani came continuously on Friday. However, the effect of a good news that came in the meantime was seen on the shares of Adani Group and some shares of the group closed in the green mark.

Gautam Adani’s entire empire shaken by the report

Let us tell that after the Hindenburg report, the whole empire of Gautam Adani seems to be shaking. At present only Adani Group and its shares are being discussed in the country and the world. Just ten days ago, Gautam Adani was the fourth richest person in the world. However, now the shares of Adani Group are continuously falling upside down. According to an estimate, Adani has incurred a loss of about Rs 9 lakh crore in 10 days. However, amidst all this, a good news changed the whole atmosphere in favor of Adani Group.

Opposition uproar in Parliament on Adani case

Let us tell, during the budget session, the Parliament has come to a standstill on the issue of Adani for the last two days. Due to this the budget has not been discussed. The opposition is adamant on the demand for setting up a JPC continuously in the Adani case. The effect of which was visible on the stock market of Adani and the shares of the group are falling.

Adani shocked by Dow Jones

Bad news for the Adani Group came to light on Friday morning from the US stock exchange Dow Jones. In fact, Adani Enterprises has been dropped from the Sustainability Index of Dow Jones. As soon as the news came out, the shares of Adani Enterprises saw a decline of up to 35 percent. However, the business finally registered a decline of only two per cent.

Adani Group shares fall

Since the Hindenburg report, the shares of Adani Group have continued to fall heavily. The share of Adani Enterprises, which was Rs 3,442 on January 24, fell to Rs 1,530 on February 3. At the same time, the share of Adani Transmission, which was Rs 2,762 on January 24, came down to Rs 1,396 on February 3, ie a 50 per cent decline. Whereas, the stock of Adani Ports also closed at Rs 488 on Friday as against Rs 751 on January 24. The market cap of Adani Group companies has decreased by about 9 lakh crores amid the ongoing decline for 7 consecutive days.

These banks gave loans to Adani Group

Many banks of the country including SBI have given loans of Rs 81,200 crore to Adani Group companies. SBI has told RBI that it has given a loan of Rs 23,000 crore to Adani Group. At the same time, PNB has told that it has given a loan of 7000 crores to the group. SBI chairman said that people need not fear about the loan given to Adani Group. At the same time, RBI has sought details of loans and investments given to Adani Group from all the banks of the country.

Know how much investment of LIC in Adani Group

LIC has invested Rs 36,474.78 crore in bonds and equity of Adani Group. Before Hindenburg’s report, the value of this investment was double i.e. Rs 77,000 crore. However, LIC says that the uproar in Adani Group will not affect them.

Adani reached 21st position in the list of billionaires

The Hindenburg report brought Gautam Adani, who reached number two in the list of billionaires in the world, to the 21st position. At present, in the real time rating of Forbes, Adani is standing at the 17th position in the list of the world’s richest people. His net worth has reached $61.9 billion. Whereas, earlier in Bloomberg’s Billionaire Index on Friday morning, Adani was slipped to number 21 of the world’s richest people. Adani has lost net worth of $48.5 billion this year.

NSE keeping a close watch on these shares of Adani Group

NSE has included three shares of Adani Group in the Additional Surveillance Majors list for short term. These include Adani Port, Adani Enterprises, and Abuja Cement. Its goal is to protect the interests of investors.

Moody’s statement came to the fore

At the same time, in this case, the rating agency Moody’s has said that the cash position of Adani Group will be assessed. Right now it will be difficult for them to raise funds. Whereas before this, the Swiss company Credit Suisse stopped accepting the bonds of the group as a guarantee for giving margin loans. Citigroup also removed the landing value of the company.

Adani got a blow from Bangladesh as well

Bangladesh government has demanded amendment in the deal with Adani Group in the energy sector. Bangladesh Power Development Board wrote a letter to Adani Power on Thursday. In this, there has been a demand to change the prices of electricity purchase. BPDC says that it is getting electricity at an expensive rate.

good news from fitch rating

Amidst all this, Adani Group got good news from Fitch Ratings on Friday. Fitch rating agency says that there will be no immediate impact on the rating of companies or securities of Adani Group. Fitch Ratings also says that it expects Adani Group’s cash flow forecast to remain unchanged. There are no major offshore bond maturities in the short term. After which the trend of shares of Adani Group changed. Shares of Adani Port and Ambuja Cement closed in the green. Whereas, there was a strong recovery in the shares of Adani Enterprises.

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