Most of the Adani group stocks ended lower on Tuesday following a report that the conglomerate is “deeply overleveraged” with the group predominantly using debt to invest aggressively across existing as well as new businesses.
Shares of Adani Power fell 4.99 per cent, Adani Wilmar went lower by 4.73 per cent and Adani Green Energy declined 4.15 per cent on the BSE.
Adani Power and Adani Wilmar hit their lower circuit limits during the day.
Also, Adani Enterprises fell 0.93 per cent and Adani Ports and Special Economic Zone dipped 0.32 per cent.
However, Adani Transmission jumped 3.23 per cent and Adani Total Gas climbed 1.73 per cent.
In the broader market, the 30-share BSE benchmark climbed 257.43 points or 0.44 per cent to settle at 59,031.30.
Richest Indian Gautam Adani’s ports-to-power-to-cement conglomerate is “deeply overleveraged” with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said
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