November 23, 2024 03:28 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Adani Enterprises shares jump 25 pc after loan prepayment announcement
Adani Stocks

Adani Enterprises shares jump 25 pc after loan prepayment announcement

| @indiablooms | 07 Feb 2023, 11:37 pm

Mumbai/IBNS: Share prices of Adani Enterprises jumped as much as 25 percent on Tuesday after the firm announced to prepay more than $1 billion in loans, media reports said.

After a report by US short-seller Hindenburg Research accused the Adani Group of Gautam Adani-led ports-to-power conglomerate of accounting fraud and stock manipulation, the stocks of the listed lost around $120 billion.

Today’s rise in share prices helped the conglomerate to make up some of its losses, Bloomberg reported.

The rout in Adani shares has raised concerns over its ability to pay back loans. But Adani said Monday it was repaying early loans worth $1.1 billion, in a move meant to reassure investors.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.