Adani Group English news | Adani Group, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Shares of Adani Group firms fell on Wednesday. However, the key market indices opened with gains as investors' sentiments were boosted over Union Budget expectations.On Wednesday morning, shares of Adani Enterprises, the flagship firm of the group, fell 3.02 per cent to Rs 2,880.20 apiece on the BSE. In a span of five days, the shares were down 15 per cent. Adani Green declined 3.82 per cent to Rs 1,177.15 apiece and the shares had fallen about 38 per cent in a span of five days.Adani Ports was down 1.33 per cent in the morning session to Rs 604.50 apiece. The shares were down about 18 per cent in a span of five days. Adani Wilmar's shares also dropped 2.25 per cent to Rs 455.95 apiece during Wednesday morning.Meanwhile, the follow-on public offer (FPO) issued by Adani Enterprises has been fully subscribed on the last day on Friday. Data showed the demand for the FPO was led by non-institutional investors, and they subscribed to the shares 3.26 times. The portion for institutional investors was also oversubscribed.Adani Enterprises had filed a red herring prospectus with the markets regulator Securities and Exchange Board of India (SEBI) for the Rs 20,000 crore follow-on public offer (FPO), the largest ever in India.A follow-on public offering (FPO) is the issuance of shares to investors by a company listed on a stock exchange after its initial public offerings. There were concerns that the FPO may not receive a strong response from investors amid a report by a US-based Hindenburg Research that surfaced on January 24, which claimed the Adani Group of having weak business fundamentals among others.The US-based firm, in its report, raised concerns about shares of Adani group companies having a possibility of declining from their current levels, owing to high valuations. In response, Adani Group on Sunday said the recent report by Hindenburg Research was not an attack on any specific company but a "calculated attack" on India, its growth story, and ambitions. It added the report was "nothing but a lie".( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Adani GroupFOLLOW

Adani group, Latest News

Citigroup Inc’s wealth arm has stopped accepting Adani Group securities as collateral for margin loans. This comes as banks ... ...

Adani Enterprises said it has decided not to go ahead with its Rs 20,000-crore Follow-on Public Offer (FPO) and ... ...

New Delhi, Feb 1 Hours after its shares crashed at the bourses, the Adani Group on Wednesday evening ... ...

Adani Group chairman Gautam Adani, who stood at the 10th spot on the Forbes Real-time billionaire list for 2023 ... ...

Shares of Adani Enterprises nosedived sharply on Wednesday, a day after its follow-on public offer closed for the subscription. ... ...

Adani Group's large debt-financed capex programme remains a challenge, and some of them are discretionary in nature. Credit rating ... ...

Reliance Industries Chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the ... ...

Shares of Adani Group firms fell on Wednesday. However, the key market indices opened with gains as investors' sentiments ... ...