Indian shares edge up ahead of budget; Adani stocks rise
1 year, 10 months ago

Indian shares edge up ahead of budget; Adani stocks rise

India Today  

Indian shares closed higher on Tuesday after struggling for direction, as investors awaited the Union budget, while most Adani Group stocks rebounded from their recent slide. The move in the benchmarks mirrored the intraday trajectory of the heavyweight financials index, which closed marginally higher, after its drop in the wake of the US-based Hindenburg Research's scathing report on the Adani Group. Besides the government's fiscal consolidation path and borrowing calendar for fiscal 2024, traders will Foreign institutional investors offloaded 151.65 billion rupees worth of shares since the Hindenburg report on Adani Group. Most of the Adani Group stocks rose on Tuesday, with the flagship Adani Enterprises climbing 2.8 per cent on the last day of its crucial $2.5 billion follow-on share offering.

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