NEW DELHI: In what could be a setback for Adani Group stocks, which witnessed a big recovery this week, ratings agency ICRA has revised the outlook for Adani Total Gas (ATGL) and Adani Ports & Special Economic Zone (APSEZ) from ‘Stable’ to ‘Negative’ on account of deterioration in Adani Group’s financial flexibility, following a sharp decline in share prices and an increase in yield of international bonds raised by the Group entities.
