Adani Ent zooms 31% in 2 days, group adds Rs 74k cr to mcap

Adani Ent zooms 31% in 2 days, group adds Rs 74k cr to mcap

Shares of Adani Enterprises jumped 14.7% on Wednesday to Rs 1,564.55 apiece, with group stocks adding Rs 44,145 crore to market capitalisation.

This takes the total addition in group mcap to Rs 74,188 crore, with Adani Enterprises jumping over 31% in two sessions. The company has added Rs 42,220 crore to its mcap over the previous two sessions.

Adani Group has told creditors that it has secured a $3-billion loan from a sovereign wealth fund, said a Reuters report on Wednesday, amid efforts by the conglomerate to allay investor worries regarding its credit profile. The credit line from the sovereign wealth fund could be upsized to $5 billion, added the report. Reports on Tuesday said the group is planning to pre-pay or repay share-backed loans worth $690 million to $790 million by the end of March 2023 to boost its credit profile, with Adani Green Energy also planning to refinance its 2024 bonds via a $800-million three-year credit line.