hindenburg research, Adani News: two good news for Adani group from country and abroad amid difficulties – moodys and fitch not to instantly change ratings of adani group companies in the middle of hindenburg report row
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Fitch said – will not change the rating now
Fitch Ratings on Friday said there will be no immediate impact on ratings of group companies and their shares in the wake of short seller’s report alleging wrongdoing by Adani Group. The rating agency said in a statement that it expects no major changes to its forecasted cash flows.
Adani Group will be difficult for a year or two: Moody’s
At the same time, Moody’s Investors Services also said a big thing about the ratings of Adani Group on Friday. It said it is assessing the financial resilience of rated Adani group companies in the light of the turmoil following the short seller Hindenburg report. Moody’s said that under the difficult circumstances arising out of the Hindenburg report, Adani Group companies will find it difficult to raise funding for a year or two to meet their financial obligations. He said that Adani Group will need funding for capital expenditure or debt repayment.
Strength in Adani Enterprises
Another good news for Adani Group Chairman Gautam Adani has come from the stock market. The shares of Adani Enterprises, the flagship company of the group, have gained momentum. At 3.14 pm on the Sensex, the company’s shares were trading at Rs 1,590, up 25.30 points, or 1.62 per cent. At the same time, with a gain of 13.60 points, or 0.87 percent, on the Nifty, shares of Adani Enterprises came at a price of Rs 1,578.85. The company’s shares are witnessing a bullish trend at both BSE and NSE.
Adani Group Share: Shares of Adani Group fell by 20%, know how much was lost in a day
The government also said – what do we have to do with it?
Significantly, American financial research company Hindenburg Research has accused the group led by industrialist Gautam Adani of blatant manipulation of shares and fraud in accounts. After this allegation of the company, the shares of the group companies are continuously falling. 10 companies of the group are listed in the stock market. Today the Central Government also said that it does not need to give a statement on Adani Group as it is an independent private company group.
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