Bengaluru: Shares of India’s Adani Green Energy rose over 2% on Wednesday, bucking the weakness in broader markets and leading gains among the listed Adani Group stocks after rating agency Moody’s upgraded four group companies to “stable”
Moody’s upgraded two unlisted units of Adani Energy Solutions as well as Adani Green and Adani Green Energy Restricted Group, an unlisted ring-fenced group of solar assets to “stable” from “negative” on Tuesday.
The upgrades come a year after Moody’s downgraded the companies following US short-seller Hindenburg Research’s accusations of stock manipulation and improper use of offshore tax havens by the billionaire Gautam Adani-led conglomerate, which has denied the allegations.
