The effect of American research firm Hindenburg is still visible on Adani Group. Be it the fall in shares or the net worth of Gautam Adani, everything is decreasing. Meanwhile, now two good news has come for Adani Group. While the two-month-old dispute in Himachal Pradesh has been resolved, the Adani Ports and Special Economic Zone (APSEZ) has repaid a loan of Rs 1,500 crore.
On Monday, Adani Group has also promised to pay 1500 crore loan of SBI Mutual Fund in the coming days. According to media reports, in March 2023, the company will pay another Rs 1,000 crore as per the loan repayment plan. The SBI loan has been repaid by Adani Ports from the proceeds from business operations.
In fact, Adani Group is constantly trying to restore the confidence among its investors. Recently, I was shaken due to Hindenburg’s report. In September 2022, the total debt on the Adani group was Rs 2.26 lakh crore, while it had only Rs 31,646 crore in cash.
After the publication of the Hindenburg Report, a mountain of problems broke on the Adani Group. The report released on January 24, 2023 had such an adverse impact on investors’ sentiment that there was a tsunami in the shares of all the companies of the group and the market cap of Adani Group was reduced by half within 20 days. Not only this, due to the decline in Gautam Adani’s net worth due to the tsunami in shares, he has slipped from the fourth position to the 25th position in the list of billionaires.
At the same time, after 68 days, the ongoing dispute between the Adani Group and the cement truck operator in Himachal Pradesh has now been resolved. On the previous day, a meeting was held between the two sides under the chairmanship of the state’s CM Sukhwinder Singh Sukhu and new freight rates have been fixed in it.
The Ambuja and ACC cement plants here were shut down from December 16, 2022, due to disagreement over freight charges. Now an agreement has been reached between both the parties.
As part of the strategy to maintain the confidence of its investors, Adani Group is taking all measures to save cash. Under this, the expansion plans of the group are also being stopped. First, Adani Power’s Rs 7000 crore deal with DB Power was put on hold. So on Monday, taking another big decision, Gautam Adani took a big decision to disassociate himself from bidding for stake in PTC India Limited.
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https://english.n27news.in/2023/02/good-news-for-gautam-adani-after-68-days-deal-completed/https://english.n27news.in /wp-content/uploads/2023/02/image-97.pnghttps://english.n27news.in /wp-content/uploads/2023/02/image-97-150x150.pngN27 NewsEconomydeal completed,Good news for Gautam Adani after 68 days,n27news.inThe effect of American research firm Hindenburg is still visible on Adani Group. Be it the fall in shares or the net worth of Gautam Adani, everything is decreasing. Meanwhile, now two good news has come for Adani Group. While the two-month-old dispute in Himachal Pradesh has been resolved,...N27 NewsN27Adminenglish@n27news.inEditorN27 News
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