Adani group stocks rise up to 3% on $2.65 billion loan repayment

Adani Group’s prepaid loans of $2.65bn helped boost its share prices by up to 3% in Tuesday’s trading. The group paid off its margin-linked share-backed financing of $2.15bn and $500m debt from its acquisition of Ambuja Cement, along with a $203m interest in March, before respective deadlines. The Adani Group’s ratio of net debt to EBITDA was at 3.27, while the net debt to run-rate EBITDA ratio was at 2.81. The group’s listed companies have a credit summary showing cash balance at INR40,351 crore and gross assets of INR4.23 lakh crore.