HomeMarketsMarket InsightAdani Ports shares jump 3% on debt securities buyback plan; Adani Group...

Adani Ports shares jump 3% on debt securities buyback plan; Adani Group stocks trade mixed

Adani Ports and Special Economic Zone shares rose 3% to Rs 678.40 today after the company’s board announced that it will contemplate a first and partial repurchase of certain debt instruments at its April 22 board meeting. Adani Ports said in an exchange filing that it would contemplate buying back the securities, which will be denominated in either Indian rupees or US dollars, in the current fiscal year, subject to market circumstances. Adani Ports, Adani Transmission, Adani Green Energy, and Adani Electricity Mumbai’s dollar bonds were trading slightly higher today.

Today’s trade in Adani Group equities was mixed, while the benchmark indexes Nifty 50 and BSE Sensex remained flat. Adani Enterprises shares fell 0.57% to Rs 1842.75, Adani Power shares rose 0.16% to Rs 187.75, Adani Wilmar shares were up 0.15% to Rs 409, Adani Transmission shares fell 0.61% to Rs 1011.3, Adani Green Energy shares fell 0.48% to Rs 931.25, Adani Total Gas shares were down 0.45% at Rs 926.35, Ambuja Cements shares were down 0.08% at Rs 379.5, and NDTV shares were down 0.

Nevertheless, according to sources, Adani Group paid back at least $3 billion in the March quarter, cutting promoter-group commitments and settling debts with three domestic mutual funds. This month, Gautam Adani’s business redeemed Rs 7,374 crore in share-backed loans due to mature in April 2025. Adani Group has taken many initiatives to rebuild investor confidence after its market value plunged more than 50% early this year following the publication of a report by the US-based short seller Hindenburg Research LLC on January 24 accusing the Adani family of fraud and stock manipulation.

News Desk
News Deskhttps://businessheadline.in
Business Headline aims at providing you with all the insights around the business world along with creative write-ups and reviews by renowned global personalities. Additionally the Business Blog will help startups and enterprises to develop their business.
- Advertisment -

Most Popular