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USA rejects Hindenburg report, huge jump in shares of Adani Group
Adani Green Energy Limited (AGEL) also announced the funding plan on Tuesday. The company has announced a follow-on funding plan of $1.36 billion to increase the financing framework to $3 billion. It is supported by a consortium of top international banks.
A US government agency has rejected the allegations made by Hindenburg Research against Adani Group. After this, a huge jump was recorded in the shares of Adani Group (Adani Group Share Price).
The US government agency has found the allegations of short seller Hindenburg Research against Adani Group to be insignificant. After this, a huge jump of up to 20 percent was seen in the shares of Adani Group. At the same time, a rise of up to 17 percent was seen in the shares of Adani Green Energy.
Adani Green Energy Limited (AGEL) also announced the funding plan on Tuesday. The company has announced a follow-on funding plan of $1.36 billion to increase the financing framework to $3 billion. It is supported by a consortium of top international banks.
On November 24, the Supreme Court had also asked tough questions against the petitioners in the case related to the allegations of Hindenburg Research and a report of a group funded by George Soros. Adani Group was targeted in these reports.
International Development Finance Corp (DFC) had investigated the allegations against Adani Group at its own level before giving a loan of $ 553 million for a container terminal project in Sri Lanka. The investigation found that Hindenburg's allegations were irrelevant. DFC is a US government agency, which mostly invests in development projects in emerging economies.
On the other hand, shares of Adani Enterprises Limited (AEL) on Tuesday rose by more than 18 percent to Rs 2,995.80 and closed at Rs 2,960.10. The total market capitalization of AEL once again reached the figure of Rs 3.40 lakh crore. The company's stock increased by almost 200 percent from its 52-week low.
Adani Ports and Special Economic Zone Ltd. gained nearly 17 percent to Rs 1,023.90. This is a new 52-week high. Shares of Adani Ports and Special Economic Zone Limited closed at Rs 1,011.85 with a gain of 15 per cent. This stock has increased by 160 percent from its 52-week low. Adani Wilmar rose 10 per cent to Rs 380.90 on Tuesday, with a total market capitalization of Rs 50,000 crore.
Bhoomi Goyal
My self Bhoomi Goyal from Jaipur, Rajasthan. I have passed my Master's in Journalism and Mass Communication this year. I worked in Rajasthan Patrika for six months as an intern. I am working here from June 1st. I passed my graduation in BCA from Rajasthan University and master's in journalism and mass communication from Vivekananda Global University, Jaipur.
