All but one Adani Group stocks decline, two hit the lower circuit
Shares of almost all companies of the Adani group declined on Monday after boards of two firms approved proposals to raise as much as $2.6 billion, with market watchers flagging concerns about potential equity dilution.
Adani Enterprises slid 2.5 per cent on the day after the firm got a nod to raise as much as ~12,500 crore via a qualified institutional placement or other modes, according to an exchange filing on Saturday.
Adani Transmission, meanwhile, can seek up to ~8,500 crore via similar methods, the utility said separately. The stock, which slumped last week amid global index provider MSCI’s move to exclude it from an India gauge, lost over 5 per cent to hit the lower circuit.
