Adani Group stocks are trading in the green on March 10 after a positive update from Fitch Ratings. The firm stated that risks related to the group’s liquidity and funding requirements have reduced. In a further boost, Fitch removed Adani Energy Solutions from its ‘Rating Watch Negative.’
The rating agency has affirmed Adani Energy Solutions’ Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB-‘. This means the company is still seen as capable of meeting its debts.
Fitch also confirmed the ‘BBB-‘ rating for the AESL-backed 4.0 percent USD 500 million senior secured notes due in 2026 and the 4.25 percent USD 500 million senior secured notes due in 2036. These notes were issued by AESL’s subsidiary, Adani Transmission Step-One Limited.
However, Fitch has also maintained a negative outlook, citing ongoing U.S. investigations that could expose groups’ governance concerns and impact financial stability. Despite this, positive sentiments pushed the stock prices up on Monday.
Adani Energy Solutions Ltd
With a market capitalization of Rs 91,177.35 crore, Adani Energy Solutions Ltd went up 6 percent to an intraday high of Rs 790.05 per share compared to its previous closing price of Rs 747.50 per share. The shares retraced and were trading at Rs 759, which is 2 percent up compared to the previous close.
Adani Energy Solutions Limited is a private utility company offering comprehensive energy solutions. It operates through three key segments: Transmission, GTD Business, and Trading.
Adani Power Ltd
With a market capitalization of Rs 1,96,318.19 crore, Adani Power Ltd went up 6 percent to an intraday high of Rs 535 per share compared to its previous closing price of Rs 506.15 per share. The shares retraced and were trading at Rs 508.50, which is a slight increase compared to the previous close.
Adani Power Ltd is a leading thermal power producer in India which focuses on power generation and coal trading. It has a total generation capacity of 442 GW, including 218 GW from coal thermal plants and 144 GW from renewable energy.
Adani Total Gas Ltd
With a market capitalization of Rs 66,747.47 crore, Adani Total Gas Ltd went up 3 percent to an intraday high of Rs 625.75 per share compared to its previous closing price of Rs 607.35 per share.
Adani Total Gas is involved in the sale and distribution of natural gas. It develops city gas networks to supply piped natural gas to industrial, commercial, and residential customers, along with compressed natural gas for the transport sector. Currently, it operates across 33 geographical areas.
Adani Ports and Special Economic Zone Ltd
With a market capitalization of Rs 2,47,292.71 crore, Adani Ports and Special Economic Zone Ltd went up 2 percent to an intraday high of Rs 1,168 per share compared to its previous closing price of Rs 1,144.45 per share.
Adani Ports and Special Economic Zone Limited is an integrated ports and logistics company in India. It operates in two main segments: Port and SEZ activities and Others (logistics, transportation, and utilities). The company develops, operates, and maintains ports, related infrastructure, and special economic zones. Additionally, it operates Haifa Port in Israel.
Adani Enterprises Ltd
With a market capitalization of Rs 2,57,613.14 crore, Adani Enterprises Ltd went up 1.8 percent to an intraday high of Rs 2,287.4 per share compared to its previous closing price of Rs 2,246.80 per share. The shares retraced and were trading at Rs 2232, which is a slight decrease compared to the previous close.
Adani Enterprises is a global infrastructure company based in India, operating across multiple sectors, including integrated resource management, mining, energy, airports, roads and data centers.
Written by Shwetha Sairam
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