Adani Ent zooms 7% as Group CFO refutes report of incomplete debt repayment
Shares of Adani Enterprises surged 7 per cent to Rs 1,708.65 on the BSE in Wednesday’s intra-day trade, erasing its entire previous day’s losses, on the back of heavy volumes after the company clarified that all share-backed facilities availed by the promoters have been paid off.
On Tuesday, the stock of Adani Group flagship company slipped 7 per cent after The Ken, a digital publication, said that that the Group has not completed repayment of $2.15 billion in share-backed debt. From the recent closing high level of Rs 2,040 on March 8, 2023, the stock had corrected 21 per cent till yesterday.
