Recovery of shares of Gautam Adani, Adani Group; Other stocks of the group upper circuit while the flagship company’s share rose 14% – share market update this adani group stock has bounced back over 100% in three days
LIC’s investment safe, but what about the banks that lent to Adani? Know what will happen to your deposits…
Also, all shares of the group, except Adani Total Gas, are trading with green ticks. After 9 days of continuous decline, the market capitalization of group companies had halved. Subsequently, the promoters of the Adani Group decided to prematurely repay over $110 million to redeem the pledged shares to regain investor confidence.
Gautam Adani: Adani Shows ‘Power’ In Just Three Hours; Wealth increased by 3,55,37,02,75,000
How much bullish in which stock?
- Shares of Adani Enterprises rose 14 percent to Rs 2,050 today. On Tuesday, the stock had closed at Rs 1,803. Although the stock has fallen more than 45 percent in 1 month, the 1-year high for the stock is Rs 4190.
- Shares of Adani Power Ltd jumped nearly five percent to Rs 182 today. The stock closed at Rs 176 on Tuesday. The shares hit a one-year high of Rs 432.
- Adani Green Energy has increased by 3 percent today and the share has reached Rs 870. On Tuesday, the stock closed at Rs 845. 3050 is the stock’s one-year high.
- Shares of Adani Ports and Special Economic Zones rose 7 percent to 592 today, touching a one-year high of Rs 988.
- Shares of Adani Wilmar Ltd hit a 5 percent upper circuit today and rose to Rs 419. The stock’s one-year high is 878.
- NDTV shares closed an upper circuit of 5 percent today. It rose to Rs.228. The stock’s one-year high is 573.
- Meanwhile, shares of Adani Total Gas fell 5 percent to Rs 1,391 today. In the past one month, the stock has fallen by around 62 percent and its one-year high is Rs 4,000.
With a price volume breakout this turned out to be Wednesday’s notable stock
No impact on credit quality of banks – Moody’s
Rating agency Moody’s says the Adani group companies’ bank loans are not high enough to affect their credit quality. Moody’s Investors Service has said that PSU banks are ahead of private banks in lending to the Adani group. But the Adani Group’s share of total disbursements of most banks is less than one per cent. If the Adani Group becomes more reliant on loans from banks, the banks’ risk may only increase. Moody’s also said that Adani Group’s financing from international markets may decrease
