Adani Enterprises shares rise nearly 30-pc in 2 days, Here is why
Adani Enterprises shares rise nearly 30-pc in 2 days, Here is why

ADANI SOCK IN NEWS: After recent losses, all ten of the Adani Group's listed companies saw their shares rise for the second straight day on Wednesday. In today's trading, the conglomerate's total market value increased by Rs. 39,000 crore to above Rs. 7.50 lakh crore.

Adani Enterprises, the company that is the face of the Adani Group, saw a 15% increase in share price, trading at Rs. 1563 on the NSE. Among the biggest gainers in the Nifty 50 is Adani Enterprises.

The stock has increased by almost 30% during the past two days. The group share increased by 15% today to reach the day's high of Rs. 1563.00 after closing Tuesday's session higher by 14%.

Adani Ports shares increased by 2.64 percent to Rs. 608.25, Ambuja Cements shares increased by 2.27 percent to Rs. 349.80, and ACC shares increased by 1.33 percent to Rs. 1,755.25.

Adani Transmission, Adani Total Gas, Adani Wilmar, Adani Green Energy, NDTV, and Adani Power are six group equities that have 5 percent upper circuit limitations locked in.

In response to reports that the empire had received a definite agreement for a $800 million loan facility, which will be used to refinance the $750 million 4.375% bond due in September 2024 issued by Adani Green Energy, all shares of the Adani Group firms increased on Wednesday.

Jugeshinder Singh, the head of finance at Adani Group, has stated that the conglomerate is not looking to refinance debt or inject money. He made them during an investment roadshow intended to restore investor trust in the financially troubled Indian company.

According to the sources, the group delivered both proposals to bondholders in Hong Kong on Tuesday. 

Earlier, Stocks of the Adani Group have fallen significantly on the exchanges since late January, when US-based short seller Hindenburg Research published a report on the company and levelled a long list of accusations against it, including share-price manipulation.

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