Adani Transmission And Adani Total Gas Rises In A Mixed Session For Group Stocks
The conglomerate prepaid its debt of Rs 7,374 crore on March 7, and the NSE moved Adani Enterprises Ltd. out of the short-term ASM
Adani Group company shares ended mixed in trade on Monday as Adani Transmission Ltd., Adani Total Gas Ltd., Adani Green Energy Ltd., and Adani Power Ltd. gained, while the other stocks of the conglomerate dropped.
The conglomerate prepaid its debt of Rs 7,374 crore on March 7, and the NSE moved Adani Enterprises Ltd. out of the short-term additional surveillance measure.
The National Stock Exchange put Adani Enterprises Ltd., Adani Power Ltd., and Adani Wilmar Ltd. under short-term additional surveillance measures. The exchange also placed Adani Enterprises back under the ASM framework, with effect from Thursday.
Ambuja Cements Ltd. and Adani Ports and Special Economic Zone Ltd. were removed from the short-term additional surveillance measure framework on Feb. 13.
Over the past week, Adani Group stocks saw significant gains after moving through immense volatility against the backdrop of the Hindenburg Research report that alleged stock manipulation and fraud earlier in January.
Adani Group had said that these accusations were "malicious" and meant to hurt Adani Enterprises Ltd.'s follow-on public offer, which was later cancelled despite being fully subscribed.
The Supreme Court of India recently directed SEBI to expeditiously conclude the investigation on the Adani-Hindenburg matter within two months and file a status report.
Indian benchmarks closed at a five-month low on Monday, dragged by banking, telecom, and automobile stocks. The S&P BSE Sensex fell 1.52% to close at 58,237.85, while the Nifty 50 closed 1.49% lower at 17154.30.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.