New Delhi: Shares of six Adani Group firms, out of 11 listed companies, declined in the mid-session deals on Wednesday, with Adani Green Energy falling more than 2 per cent. The scrip of Adani Green Energy slipped 2.46 per cent to Rs 1,147.30 apiece, Adani Ports and Special Economic Zone was down by 1.13 per cent, Adani Power (down 1.05 per cent), Adani Energy Solutions (down 1.11 per cent) and Adani Total Gas skid by 0.33 per cent on the BSE. The flagship firm Adani Enterprises dipped 0.38 per cent to Rs 2,456.65 per piece.
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On the other hand, shares of ACC rose 1.42 per cent to Rs 2,281.70 apiece, Ambuja Cements appreciated by 1.16 per cent, Sanghi Industries by 1.09 per cent, and Adani Wilmar edged up 0.20 per cent on the bourse. The 30-share BSE Sensex climbed 125.97 points or 0.15 per cent to 81,636.02 in the mid-session trade.
Adani Group to Self-Fund Sri Lankan Port Project, Withdraws US Loan Request
On Tuesday, Billionaire Gautam Adani-led conglomerate said it will use its resources to fund a Sri Lankan port project and not seek US funding.
In an exchange filing late on Tuesday, Adani Ports and SEZ Ltd said the project "is on track for commissioning by early next year" and added that the company will fund the ongoing project through "internal accruals", aligning with its capital management strategy. The company said it has also withdrawn its 2023 "request for financing from the US International Development Finance Corporation (DFC)".
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In November last year, the US International Development Finance Corp agreed to provide a USD 553 million loan to support the development, construction, and operation of a deep-water container terminal called the Colombo West International Terminal (CWIT) at the Port of Colombo in Sri Lanka. A consortium of Adani Ports, Sri Lankan conglomerate John Keells Holdings Plc, and the Sri Lanka Ports Authority (SLPA) is developing the CWIT. Shares of most Adani group firms ended lower on Tuesday, with Adani Green Energy dropping more than 3 per cent amid a subdued sentiment in the stock market. Of the eleven listed Adani company stocks, ten settled lower, while one closed in green.
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