On Wednesday, six of the 11 listed Adani Group companies experienced declines in their stock prices during mid-session trading on the Bombay Stock Exchange (BSE). Adani Green Energy saw the steepest drop, falling 2.46% to Rs.1,147.30 per share. The losses extended to other key Adani Group firms, including:
– Adani Ports and Special Economic Zone: Declined by 1.13%.
– Adani Power: Fell by 1.05%.
– Adani Energy Solutions: Dropped by 1.11%.
– Adani Total Gas: Skidded 0.33%.
– Adani Enterprises (the group’s flagship company): Dipped by 0.38% to Rs.2,456.65.
This decline follows subdued sentiment in the broader market and recent updates from the group regarding its international projects. The conglomerate clarified that it would self-fund its ongoing Colombo West International Terminal project in Sri Lanka, instead of relying on external loans. The company reaffirmed its commitment to completing the project by early 2025, in line with its capital management strategy.
Despite the losses, some Adani Group companies posted gains. For instance, ACC rose by 1.42%, Ambuja Cements appreciated by 1.16%, and NDTV edged up by 0.69%. These mixed performances occurred against the backdrop of the benchmark 30-share BSE Sensex gaining 125.97 points (0.15%) to reach 81,636.02 during the session.
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