Adani Group Stocks: Even in the last trading session of the week, shares of Adani Group opened with a big fall. As soon as the market opened, shares of Adani Group fell by 8 percent. The biggest fall in today’s session was seen in the shares of Adani Green Energy which fell by 7.53 percent to Rs 1060. The group’s flagship company Adani Enterprises and Adani Ports also opened with a decline of about 5 percent.
Adani stocks fell again
Due to selling in Adani Group’s shares, Adani Green Energy’s stock fell by 7.53 percent to Rs 1060, Adani Enerdi Solutions’ stock fell by 6.82 percent to Rs. 650, Adani Enterprises fell by 4.24 percent to Rs. 2090, Adani Ports fell by 5.32 percent to Rs. 1055. Rupee, Adani Power fall by 5.27 percent At Rs 451, Adani Total Gas fell by 6.12 per cent to Rs 565, Adani Wilmar by 4.86 per cent at Rs 280, Ambuja Cement by 0.30 per cent at Rs 482 and ACC by 0.81 per cent at Rs 2009.
Raising funding will be expensive!
Rating agency S&P, while reviewing the outlook of Adani Group companies, has maintained the ratings of Adani Ports, Adani Green Energy RG2 (AGEL RG2), Adani Electricity Mumbai Limited at BBB-. But the rating agency said that after the allegations of bribery against Chairman Gautam Adani and other executives, the group’s fund raising efforts may face a setback and the funding cost may also increase.
what is the whole matter
Adani Group Chairman Gautam Adani and other executives of the company have been accused of bribery and fraud worth $265 million in a New York court in the US. After this news came out, there was a sharp fall in the stocks of Adani Group on 21 November 2024. Due to this, the market cap of Adani Group decreased by Rs 2.20 lakh crore and the net worth of Gautam Adani also decreased by $ 12 billion. However, the company issued a statement rejecting the allegations of bribery and fraud leveled by the US Justice Department and the US Securities and Exchange Commission against the directors of Gautam Adani and Adani Green. The company said that it will use all available legal options.
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