Adani Group stocks recover day after falling sharply. Here's why
1 year, 8 months ago

Adani Group stocks recover day after falling sharply. Here's why

India Today  

Shares of all 10 listed companies of the Adani Group advanced on Tuesday, registering a strong recovery after yesterday’s steep fall. Recovery after clarification on debt repayments The recovery comes after Adani Group CFO Jugeshinder Singh refuted a news report which questioned its recent debt repayments. Hours after he rejected the claim, the company also issued a statement, where it said, “Adani has completed full prepayment of margin linked share backed financing aggregating to USD 2.15 billion and all corresponding shares pledged for those facilities have been released.” Singh also added that the data will be updated on the exchanges after the end of the currency quarter. Jugeshinder Singh’s statement was in response to a report by The Ken, which raised questions about whether the Adani Group had actually repaid debts against pledged shares totalling to $2.15 billion. The report also claimed that Adani Group only reduced the loan amount through a partial repayment to avoid pledging more shares and further action by lenders.

History of this topic

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