Seven Adani Group companies saw a net loss of ₹53,882 crore in market cap this week, after gaining for four straight weeks. Adani Enterprises Ltd contributed ₹1,068 crore, while the rest lost between ₹239 crore and ₹23, 065 crore.
On Friday's session, Adani Enterprises, Adani Power Ltd, and Adani Wilmar Ltd ended in the green, while the rest, Adani Transmission Ltd, Adani Ports & Special Economic Zone Ltd, Adani Green Energy Ltd, Adani Total Gas Ltd ended in the red.
This week, in Monday's trading session, all the seven stocks ended in the red (each down over 4%) and lost market cap of over ₹30,000 crore in total. In Tuesday's session, the Adani Group erased nearly ₹50, 000 crore of market cap amid reports on debt payments not matching with pledged shares data.
| Scrip Name | Closing Price as on March 24 (Rs) | Closing Price as on March 31 (Rs) | % Change | Market cap this week ( ₹crore) |
| Adani Power | 192.6 | 191.6 | -0.5% | -385 |
| Adani Enterprises | 1,741 | 1,750 | 0.5% | 1,068 |
| Adani Total Gas | 1,007 | 868 | -13.8% | -15,227 |
| Adani Transmission | 1,124 | 993 | -11.7% | -14,397 |
| Adani Green Energy | 1,029 | 881 | -14.4% | -23,065 |
| Adani Ports & Special Economic Ltd | 638 | 632 | -0.9% | -1,638 |
| Adani Wilmar | 408 | 406 | -0.5% | -239 |
| Total | -53,882 |
The promoter group headed by billionaire Gautam Adani has paid off all of the USD 2.15 billion loans taken pledging its shares in the conglomerate, Adani Group said, trying to reassure investors of its capacity to repay debt.
Adani Group in a statement termed Ken's reports of the group not completing repayment of USD 2.15 billion share-backed debt 'baseless and deliberately mischievous'.
"Adani has completed full prepayment of margin-linked share-backed financing aggregating to USD 2.15 billion (as was announced on March 12), and all corresponding shares pledged for those facilities have been released," it said.
While "all share-backed facilities availed by the promoters have been paid off", residual pledges pertain to debt taken by operating companies, it said.
The statement followed reports citing exchange records that suggested the debt had not been completely repaid because banks had withheld a sizable portion of the promoters' shares held as collateral.
However, on Wednesday, out of the ten listed Adani Group stocks, seven ended in the positive territory, with Adani Enterprises rallying nearly 9%.
Also Read: Adani stocks gain m-cap for fourth consecutive week; Adani Green biggest contributor
Technical Views:
Kapil Shah, Technical Analyst, Emkay Global and Technical Trainer, Finlearn Academy, said that in the recent context, Adani Enterprises is trading below short to long term moving average and under the lower high lower low sequence. It is bearish characteristic of the stock. Upside bounces can be considered as relief rally rather than positive trend. The stock has immediate resistance around ₹1,900 level.
According to Shah, Adani Ports is in a better position as compared to other Adani stocks. With recent decline, the stock took support at ₹590 level and formed bullish engulfing pattern. The stock can trade in broader range of ₹600 to ₹725 level.
Further, he believes Adani Transmission seems to have tested downward sloping short term moving average followed by bearish engulfing formation. It is a potential sign of termination of relief rally. Moving below ₹965 level will indicate further weakness in the stock.
