Adani Group denies report of securing $3 bn loan from sovereign fund

Meanwhile, all ten group stocks had gains on Wednesday, the first time since the Hindenburg report was released in January

Adani Group on Wednesday refuted media reports that claimed the company has obtained a $3 billion loan from a sovereign wealth fund, reported CNBC TV18 citing a Bloomberg report.

Clarifying on media reports, Adani Group said to Bloomberg, “We completely deny this baseless speculation. This is totally false and untrue.”

According to a Reuters report, Adani Group had informed creditors on Wednesday during the day that it had secured a $3 billion loan from a sovereign wealth fund and the credit line could be increased to $5 billion. 

Meanwhile, all ten group stocks had gains on Wednesday, the first time