Adani Share Price: The continuous decline in Adani Group Stocks for a week finally came to an end on Tuesday. With the help of positive news, today all the shares of Adani closed the business with profit. Many stocks of the group witnessed significant gains and three stocks hit upper circuit.
Upper circuit on all three
After the end of the day’s trading, the prices of almost all the 10 shares of Adani Group gained momentum. The price of one share remained at the old level. In the trading on the second day of the week, the shares of Adani Green, Adani Transmission and Adani Total Gas hit upper circuit. Their prices increased by 5-5 percent.
Prices increased by more than 2-2 percent
Some other stocks of Adani Group also performed well today. Adani Enterprises, the flagship stock of the group, closed at a gain of about 2.50 per cent. Similarly, the prices of Adani Power and NDTV registered a rise of more than 2-2 per cent.
These stocks also benefited
Adani Wilmar gained about 1 percent. Apart from these, the prices of Adani Ports and Ambuja Cement also registered a rise. On the other hand, ACC Cement closed almost at the old level with a slight decline.
Performance of all stocks:
|Today’s closing price (on BSE, in Rs)
|Change (in %)
|Adani Total Gas
last week was like this
The shares of Adani Group were in the grip of decline since last week. Last week was the worst for the Adani group in almost 2 months. The trend of decline continued on the first day of this week as well. However, the news of speedy repayment of loans to Adani Group’s shares helped Tuesday’s trade. Due to this, not only did almost all the shares return to the green zone, but three were also put on upper circuit.
These loans were repaid ahead of time
Let us tell you that Adani Group has made a big change in the strategy of doing business and now it is repaying the loan fast to remove the concerns of its investors and borrowers. The group repaid bond dues of $3 billion during the March quarter. The group used $1.88 billion in equity funding from GQG Partners and an additional $1 billion from promoter groups to pay off the bonds.
Such is the plan of Adani group
Adani group is going to use surplus cash and internal accounts amount to buy bonds even further. It will start with the purchase of $ 650 million bonds of Adani Ports & Special Economic Zone. Adani group is also evaluating the bonds of its other companies and after that they can also be bought.
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