The slide in the stocks resumed after a report by The Ken claimed that the Adani group has not completely repaid its loans taken against the promoters' shares
The combined market-capitalisation (market-cap) of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public
Adani Group said it has completed full prepayment of margin linked share backed financing aggregating to $2.15 billion, well before committed timeline of 31 March 2023
So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.
The promoters plan to use the proceeds to retire debt and for other purposes.
Since January 24, the market value of 5 Adani group companies - Adani Total Gas, Adani Green Energy, Adani Transmission, Adani Power and Adani Enterprises - has declined between 52% and 83%
Adani Power (Rs 162.60), Adani Transmission (Rs 788.75), Adani Total Gas (Rs 834.95), Adani Green Energy (Rs 539.30) and Adani Wilmar (Rs 390.35) were locked at 5 per cent lower circuit today
The Central government has agreed to form an expert committee to strengthen the regulatory regime in order to ensure that market investors are protected.
Adani Ports and Special Economic Zone, Adani Wilmar, ACC, Ambuja Cements and New Delhi Television (NDTV) are down in the range of 1 per cent to 5 per cent.
The company reported total sales volume of 186 mmscmd (million metric standard cubic meter) for the quarter, which was lower by 3 per cent from 192 mmscmd recorded for the same period last year
Adani Enterprises locked 10 per cent lower circuit, while Adani Ports, Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and Ambuja Cements were down up to 6 per cent
Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), ACC, Ambuja Cements, and Adani Green Energy, too, rallied in the range of 2 per cent to 7 per cent
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
Stocks to watch today: The National Stock Exchange (NSE) on Thursday shifted Adani Enterprises, Adani Ports, and Ambuja Cements to a category of stocks that require up to 100 per cent trading margins
Given the unprecedented situation and the current market volatility, Adani Enterprises has cancelled its Rs 20,000 crore follow-on-offer (FPO)
A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans
Shares of Adani Total Gas were locked in the lower circuit for the fourth straight day, down 10 per cent at Rs 1,901.65 on Wednesday.
Stocks to Watch today: Stock exchanges BSE and NSE on Monday revised the circuit limits for three Adani group companies - Adani Total Gas, Adani Transmission, and Adani Green Energy - from 20% to 10%
Adani Ports and Special Economic Zone (Rs 658.45) and Ambuja Cements (Rs 419.25), too, were locked in their respective 10 per cent upper circuits
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.