Three Adani Group Stocks Move Out Of Additional Surveillance


Last week, Adani promoters repaid share backed debt worth $2.15 billion (or Rs 17,623 crore, as of March 12) in full ahead of month-end deadline. The prepayments are aimed at restoring confidence as the group stocks crashed after the Hindenburg report.

The promoters also chose to prepay $500 million (about Rs 4,098 crore) financing for the acquisition of Ambuja Cements, which would push up its equity stake in the cement company to $2.6 billion (Rs 21,721 crore).

The repayment and prepayment is in line with the promoters’ plans to prepay all share-backed debt before the March 31 deadline.

On Thursday, Adani Enterprises stock rose 0.21% higher at Rs 1,842, while Adani Power dipped 1.68% to Rs 198.75 apiece. Adani Wilmar stock broke 1.35% to close at Rs 420.95 apiece.