Renewed confidence among overseas investment firms has helped lift sentiment at the Adani Group counters on BSE and NSE.
The Supreme Court on Wednesday also directed the government and Sebi to look into whether there has been any violation of law by Hindenburg Research on short-selling.
In the past two trading days Adani Group stocks have surged close to 31 per cent in anticipation that India shall witness a stable government post the 2024 general elections.
Stocks to watch on Thursday, November 09, 2023: Adani Ports Sri Lankan JV to get $553 mn funding from the US DFC. Patanjali, Phoenix Mills and Brigade Enterprises to react to strong jump in Q2 profit.
The US Attorney's Office in Brooklyn, New York, has sent inquiries in recent months to institutional investors with large holdings in the India conglomerate, report.
As things stand, there is no provision to extend port operating agreements that were signed in the late 90s and the early 2000s
Shares of Adani Group companies were in demand for the second straight trading day after the SC-appointed panel said that it not possible to conclude that there was a regulatory failure at this stage.
Adani Ports and Special Economic Zone Ltd said that it has completed the sale of its port in sanction-hit Myanmar for $30 million, significantly lower than its investment in the project
The company, part of the beleaguered Adani Group, should be able to lower its debt well ahead of the maturity of its unsecured notes worth $650 million, due in July 2024, S&P added
Most Adani group stocks recovered some lost ground on Wednesday after a heavy sell-off a day earlier amid reports of the group's ability to service the debt levels.
Adani Group stocks: Last night, it was reported that Gautam Adani and his family had prepaid all loans backed by the company shares
Adani Enterprises, the Group flagship company, saw around 38.96 million equity shares (3.4 per cent of total equity) worth of around Rs 5,487 crore change hands on the BSE this morning.
Adani Ports and Special Economic Zone has repaid Rs 1,500 crore loan and will repay another Rs 1,000 crore in commercial papers due in March. The Adani Group firm paid Rs 1,000 crore to SBI Mutual Fund and Rs 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled. "This part prepayment is from the existing cash balance and funds generated from the business operations," a company spokesperson said. "This underscores the confidence which the market has placed on the prudent capital and liquidity management plan for the group." An SBI MF spokesperson said it has no further exposure. "SBI MF had an exposure of around Rs 1,000 crore to Adani Group, which has been repaid on maturity. We have no further exposure to the Adani Group," the spokesperson said.
M-cap back above Rs 10-trillion mark; Adani Transmission, Adani Wilmar, Adani Power and NDTV hit upper limit of 5%
In past seven trading days, the total market capitalisation (market-cap) of 10 Adani group companies has eroded by nearly Rs 10 trillion or 52 per cent to Rs 9.27 trillion in Friday's intra-day trades
Some of the biggest Adani group backers from the Gulf are likely to be among the largest buyers of the Adani Enterprises' FPO, which is expected to be launched later this month.
CLOSING BELL: Broader markets, meanwhile, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.4 per cent
Adani Ports and Special Economic Zone (APSEZ) on Monday announced the setting up of a joint venture company with Gadot Chemical Terminals Ltd in Israel. "The company has incorporated a joint venture company with Gadot Chemical Terminals (1985) Ltd in Israel namely 'Mediterranean International Ports A.D.G.D Ltd' on November 13, 2022," APSEZ said in a BSE filing. It said Mediterranean has been incorporated as a joint venture company with Gadot Chemical Terminals (1985) Ltd for the acquisition of Haifa Port Company which currently operates Haifa Port in Israel. Adani Ports and Special Economic Zones, the flagship transportation arm of the diversified Adani group, is India's largest private ports and logistics company.
Adani Enterprises and Adani Total Gas were the major losers among the group stocks, as they hit the 10 per cent lower circuit in intraday deals.
Singhvi said that urgency in the matter has kind of slipped away as between yesterday and today, the bid has been opened.