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 Enterprise, Adani Power and Adani Wilmar may rise up 35 per cent upon conquering key hurdles
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 Parwanoo South Zone Enforcement wing of Himachal Excise and Taxation Department inspected stocks of Adani Wilmar Ltd at Parwanoo late Wednesday evening. It was a routine inspection of stock, officials of the excise and tax department told the PTI on Thursday. The company, engaged in warehousing of Kirana (grocery items), also provides goods to the civil supplies department and police department in the state. It has recorded a business of Rs 135 crore last year. The company's entire GST input was adjusted through tax credit but no payment was made in cash, the excise department has said. Seven companies of the Adani Group are doing business in the state.
Adani Wilmar has issued a statement saying that it was a routine inspection by relevant authorities and not a raid
Adani Wilmar had failed to deposit GST collection for "several years" and this reportedly led to the inspection
The stock of Adani Wilmar has recovered 9 per cent from its intra-day low of Rs 405.10, lifted by heavy volume. In the past three days, it has bounced back 16 per cent
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 Wilmar, which receives over 80 per cent of its revenue from edible oils, saw a 4 per cent jump in it to take the tally to Rs 12,581.21 cr
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
Given the unprecedented situation and the current market volatility, Adani Enterprises has cancelled its Rs 20,000 crore follow-on-offer (FPO)
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.