Stocks of Adani Group decline; Adani Green Energy falls over 2%
text_fields
Photo: Reuters
New Delhi: Out of eleven listed companies, the shares of six Adani Group companies fell during Wednesday's mid-session trading, with Adani Green Energy seeing a decrease of almost 2%.
The scrip of Adani Green Energy slipped 2.46 per cent to Rs 1,147.30 apiece, Adani Ports and Special Economic Zone was down by 1.13 per cent, Adani Power (down 1.05 per cent), Adani Energy Solutions (down 1.11 per cent) and Adani Total Gas skid by 0.33 per cent on the BSE.
The flagship firm Adani Enterprises dipped 0.38 per cent to Rs 2,456.65 per piece.
On the other hand, shares of ACC rose 1.42 per cent to Rs 2,281.70 apiece, Ambuja Cements appreciated by 1.16 per cent, Sanghi Industries by 1.09 per cent, NDTV by 0.69 per cent and Adani Wilmar edged up 0.20 per cent on the bourse.
The 30-share BSE Sensex climbed 125.97 points or 0.15 per cent to 81,636.02 in the mid-session trade.
Billionaire Gautam Adani-led conglomerate on Tuesday said it will use its own resources to fund a Sri Lankan port project and not seek US funding.
In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy.
The company said it has withdrawn its 2023 "request for financing from the US International Development Finance Corporation (DFC)".
The US International Development Finance Corp, in November last year, agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container terminal called the Colombo West International Terminal (CWIT) at the Port of Colombo in Sri Lanka.
The CWIT is being developed by a consortium of Adani Ports, Sri Lankan conglomerate John Keells Holdings Plc, and the Sri Lanka Ports Authority (SLPA).
Shares of most Adani group firms ended lower on Tuesday with Adani Green Energy dropping more than 3 per cent amid a subdued sentiment in the stock market.
Of the 11 listed Adani companies, 10 stocks settled lower while one closed in green.
With PTI inputs
