Adani Group Stocks Ended Mixed In Trade As Benchmark Indices Closed Low
Adani Group company shares ended mixed in trade on Friday.
Adani Group company shares ended mixed in trade as Adani Green Energy Ltd., Adani Transmission Ltd., Adani Power Ltd. and Adani Total Gas Ltd. advanced in trade, while the other stocks retreated.
Adani Ports and SEZ Ltd. was unchanged in trade as it rose by 0.08%
The S&P BSE Sensex closed 671 points, or 1.12%, lower at 59,135.13, while the NSE Nifty 50 declined 177 points, or 1%, to end at 17,412.90.
The conglomerate prepaid its debt of Rs 7,374 crore on Tuesday, and the NSE moved Adani Enterprises Ltd. out of the short-term additional surveillance measure.
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.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.