All Adani Group stocks were in the red at the beginning of yet another week as markets opened on Monday.

What Happened? The Adani Group has halved its revenue growth target and plans to hold out on fresh capital expenditure in an effort to raise investor confidence in the wake of a massive stock plunge, per a Bloomberg report.

The group has reduced its revenue growth target to 15-20% for the next financial year, from what was earlier targeted at 40%. Sources close to the company have also claimed that the group plans to scale down capital expenditure plans as bolstering financial health takes priority over aggressive expansion.

Over the weekend, three Adani Group companies, namely, Adani Ports and Special Economic Zone (APSEZ), Adani Transmission Ltd, and Adani Green Energy, have also pledged additional shares for State Bank of India (SBI), as per stock exchange filings.

The additional pledges are part of a USD 300 million letter of credit provided by SBI for Adani Group’s Carmichael coal mining project in Australia. A ‘letter of credit’ is issued by a bank to another bank as a guarantee for payments made.

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Another bit of news that may impact investor sentiment for the week is Moody's Investor Services on Friday downgrading the rating outlook of four Adani Group companies from ‘stable' to ‘negative'.

These firms are – Adani Green Energy; Adani Green Energy Restricted Group, which includes some other entities of the group; Adani Transmission Step-One; and Adani Electricity Mumbai.

Meanwhile, India’s market regulator, the Securities and Exchange Board of India (SEBI), also appears to be investigating the Adani group’s links to some of the investors in the conglomerate’s aborted share sale, per a Reuters report.

Price Action: This is how the Adani Group stocks traded shortly after the market opened on Monday.

Adani Enterprises shares traded 4.67% lower at ₹1,761.10

Adani Green Energy was down 4.99% to trade at ₹687.75.

Adani Ports & SEZ was down 1.76% to trade at ₹573.55.

Adani Power shares hit lower circuit at ₹156.10 after dropping 5%.

Adani Total Gas shares traded 5% lower at ₹1,195.35.

Adani Wilmar was down 5% at ₹417.50.

Adani Transmission shares were down 5% to ₹1,126.85.

Ambuja Cement shares traded 4.33% lower at ₹345.40. ACC shares traded 2.41% lower at ₹1,835.60.

NDTV was down 4.98% to trade at ₹198.25.