The past trading week witnessed a mixed performance from the Adani Group stocks, with the key players being Adani Enterprises Limited, Adani Green Energy Limited, Adani Ports and Special Economic Zone Limited and Ambuja Cements Limited.
Early in the week, the Adani Group was making significant progress in securing a syndicated loan of $3.5 billion (₹29,140 crore) to refinance debt incurred during the acquisition of Ambuja Cements. As reported earlier several banks were said to be in talks to contribute around $250 million (₹2,100 crore) each to the loan.
|Adani Enterprises Limited||₹2,440.00||₹2,454.55||₹14.55||0.60%|
|Ambuja Cements Limited||₹430.10||₹439.90||₹9.80||2.28%|
|Adani Total Gas Limited||₹600.00||₹601.65||₹1.65||0.28%|
|Adani Energy Solutions Limited||₹806.00||₹785.20||-₹20.80||-2.58%|
|Adani Green Energy Limited||₹955.00||₹948.90||-₹6.10||-0.64%|
|Adani Ports and Special Economic Zone Limited||₹815.00||₹813.75||-₹1.25||-0.15%|
|Adani Power Limited||₹352.30||₹341.90||-₹10.40||-2.95%|
|Adani Wilmar Limited||₹342.10||₹344.40||₹2.30||0.67%|
|New Delhi Television Limited||₹214.25||₹213.10||-₹1.15||-0.54%|
Adani Enterprises Limited saw a positive momentum this week, with a weekly increase of ₹14.55, marking a percentage change of 0.60%. The stock opened at ₹2,440.00 on Monday and closed at ₹2,454.55 on Friday.
Another notable performer was Ambuja Cements Limited which experienced a surge of 2.28%, with the stock price moving from ₹430.10 at the beginning of the week to ₹439.90 by the end.
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Meanwhile, Adani Ports and Special Economic Zone Limited showed a minor setback, recording a 0.15% decrease in the stock price over the week. The company’s stocks had been under the spotlight due to the ongoing Israel-Palestine conflict and its potential impact on the Haifa port, which the company had acquired earlier this year for $1.2 billion (around ₹9,800 crore). As discussed earlier, the company was actively monitoring the situation.
On the other hand, Adani Green Energy Limited faced a dip this week, with the stock price falling by 0.64%. The stock opened at ₹955.00 on Monday and closed at ₹948.90 by the week’s end.
Despite the overall mixed trend, the impressive performance of Adani Enterprises and Ambuja Cements reflects buoyancy in the market. The Adani Group also made headlines as it rebutted an upcoming article by the Financial Times, citing it as an attempt to tarnish the firm’s name and standing. Amidst these events, the strength of the group’s stocks continues to demonstrate their resilience. The Supreme Court also deferred the hearing in the Adani-Hindenburg case on Friday to Oct. 20.
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