No immediate impact on Adani Group’s rating, Adani Enterprises shares at 52-week low
[ad_1]
New Delhi : Despite the uproar in the shares of Adani Group companies after the report of American short selling firm Hindenburg Research, there will be no immediate impact on the ratings of the group. Fitch Ratings said on Friday that there will be no immediate impact on the ratings of Adani Group companies and their securities following the Hindenburg Research report alleging misconduct by the company. However, the stock of Adani Enterprises has reached a 52-week low.
Adani Group companies on constant monitoring
Rating agency Fitch said that as part of its ongoing monitoring, it will look into the long-term financing or cost of financing of rated entities, as well as any adverse regulatory or legal developments or any significant changes in ESG. However, related issues that may have an impact on the credit profile. Earlier, CRISIL Ratings had said that it is continuously monitoring the outstanding ratings of all group firms.
Adani Enterprises posted a loss of Rs 2,55,811.95 crore.
According to media reports, Adani Enterprises has lost market capitalization of Rs 2,55,811.95 crore from Wednesday, January 25 till Friday 10:30 am, since the report of short selling firm Hindenburg Research came out. At the same time, there was a loss of Rs 94,867.24 crore in the market capitalization of Adani Port and Rs 33,974 crore in the market capitalization of Ambuja Cements.
Adani Enterprises shares fell 20 percent
Let us tell you that the shares of Adani Group companies continued to fall for the 7th consecutive day on Friday. During this, the stock of Adani Enterprises fell by 20 percent. Shares of Adani Enterprises fell 20 per cent to Rs 1,173.55 per share, which is its one-year low on the BSE. Apart from this, Adani Ports shares fell by 10 per cent. Not only this, Adani Transmission by 10 per cent, Adani Green Energy by 10 per cent, Adani Power by 5 per cent, Adani Total Gas by 5 per cent, Adani Wilmar by 4.99 per cent, Shares of NDTV fell by 4.98 per cent, ACC by 4.24 per cent and Ambuja Cements by three per cent.
[ad_2]
Source link
