Most Adani Group Stocks Decline After Three Day-Surge
On Wednesday, Adani Transmission gained 5%, while Adani Enterprises declined the most in the pack by 6%.
Shares of most Adani Group companies fell after a three-day surge on Wednesday.
Adani Transmission Ltd. and Adani Total Gas Ltd. led the gains, while Adani Enterprises Ltd. and Adani Wilmar Ltd. declined the most.
The group's market capitalisation is nearing Rs 11 lakh crore, driven by a surge after the Supreme Court panel didn't find any regulatory failure in the Adani-Hindenburg case.
On Wednesday, Adani Transmission gained 5%, while Adani Enterprises declined the most in the pack by 6%.
Adani Green Energy Ltd. cancelled its board meeting scheduled for Wednesday to consider a fundraise due to the non-availability of directors, it said in an exchange filing. "The next date of the meeting will be informed with a fresh notice."
Adani Enterprises Ltd. and Adani Transmission Ltd. have approved fundraising of Rs 12,500 crore and Rs 8,500 crore, respectively, via qualified institutional placement.
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