It is said that the shares of Adani companies are likely to rise again due to the action taken by Adani while the shares of the Indian industrialist Adani companies fell badly due to the report of the American research company Hindenberg.
A few days ago, American research firm Hindenburg made various allegations against Adani companies. It is known that due to this, the shares of Adani companies fell and Adani, which was the third richest in the world, was pushed down to the twentieth position.
In this situation, Adani has decided to prepay Rs 9,250 crore of debt to prevent a fall in the shares of the companies and to gain confidence among investors. The Adani Group has now taken another action as the shares of Adani Group rose slightly due to this decision but started to fall again yesterday.
9,250 crore and plans to prepay another $500 million loan. Due to this, it is said that the shares of Adani companies have stopped falling and there is a possibility of further increase gradually.
Last year, Adani borrowed $4.5 billion to buy Holcim Ltd’s cement assets. The loan was provided by Barclays, Standard Chartered and Deutsche Bank. Adani Group is currently repaying only a portion of this loan.
A spokesperson of the Adani Group said that they are in talks with banks to refinance part of the loan and after the talks have decided to prepay the loan.
Adani Enterprises fell 9%, Adani Transmission, Adani Total Gas and Adani Power 5%, Adani Ports 3.5%, Adani Green Energy 4% but Adani Wilmar rose 4% due to the move. Decline in Adani group companies eased yesterday. Stock market experts have opined that there is a possibility of a gradual rise again.