You are here: Home » Markets » News
Oil prices climb $1 a barrel as tight supply moves back into focus
Foreigners return to Indian equities on hopes of stronger earnings
Business Standard

Adani group stocks fall; Adani Power, Adani Wilmar decline nearly 5%

Most of the Adani group stocks ended lower on Tuesday following a report that the conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively

Topics
Adani Group | stocks | Adani Wilmar

Press Trust of India  |  New Delhi 



Adani group, adani enterprises

Most of the ended lower on Tuesday following a report that the conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses.

Shares of fell 4.99 per cent, went lower by 4.73 per cent and Adani Green Energy declined 4.15 per cent on the BSE.

and hit their lower circuit limits during the day.

Also, Adani Enterprises fell 0.93 per cent and Adani Ports and Special Economic Zone dipped 0.32 per cent.

However, Adani Transmission jumped 3.23 per cent and Adani Total Gas climbed 1.73 per cent.

In the broader market, the 30-share BSE benchmark climbed 257.43 points or 0.44 per cent to settle at 59,031.30.

Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday.

In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies."

Starting out as a commodities trader in the late 1980s, the has diversified from mines, ports and power plants into airports, data centres and defence.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Tue, August 23 2022. 19:08 IST

RECOMMENDED FOR YOU

.