Adani Group Stocks / Adani Group Share Price Updates 23 Aug 2024: Ambuja Cements, Adani Power shares end flat on Friday. Adani Energy Solutions and Adani Wilmar shares end 1% lower.

Adani Group stocks closing figures update: Majority of stocks closed flat on Friday. Adani Energy Solutions and Adani Wilmar declined by 1%.

Adani Group stocks in focus: Ambuja Cements, Adani Power stock closing figures

Ambuja Cements stock closed at ₹635 on the NSE, up 0.51%. Adani Power stock inched up 0.19% to close at ₹675.

Adani Power shares traded at ₹678.40 on the NSE, up 0.70% as at 3.08 pm. Ambuja Cements stock traded at ₹632.70, up 0.14%.

Adani Power shares traded at ₹676.35 on the NSE, up 0.39% as at 2.11 pm.

Adani Group stocks in focus: Ambuja Cements, Adani Power and Adani Green Energy stocks trade in green territory

Adani Group stocks outlook as at 2 pm

Adani Power stock in focus: Stock trades flat

Adani Power stock traded flat on the NSE at ₹676 as at 1.20 pm.

Adani stocks live updates: Adani Group stocks trade flat

Adani Group stocks outlook as at 1 pm

Adani Group stocks in focus: Adani Power, Ambuja Cements marginally up

Adani Group stocks outlook as at 12.10 pm

Adani Group stocks in focus: Ambuja Cements stock rises 1.57% amid Adani Group’s stake sale plans

The Ambuja Cements stock rose 1.57 per cent on the BSE today as of 10 am, trading at ₹642.85. Other Adani Group stocks showed mixed performance: Ambuja Cements (1.57 per cent), Adani Green Energy (1.73 per cent), Adani Power (1.24 per cent), Adani Wilmar (1.22 per cent), Adani Total Gas (0.38 per cent), Adani Enterprises (0.01 per cent), Adani Ports and SEZ (0.19 per cent), NDTV (0.65 per cent), ACC (-0.53 per cent), and Adani Energy Solutions (-0.34 per cent).

The Adani Group plans to sell 2.84 per cent stake in Ambuja Cements today, worth approximately ₹4,200 crore. Holderind Investments, an Adani Group entity, is offering 69.96 million shares at a floor price of ₹600 per share, a 5.19 per cent discount from Thursday’s closing price.

Read more

Adani Group stocks in news: ​Ambuja Cements, Adani Green Energy shares were up 1%

Adani Group stocks outlook as at 11.20 am

Adani Power shares in focus

Adani Power shares were up 1.25% on the NSE, trading at ₹382.10 as at 10.49 am, following receipt of NCLT approval to acquire Lanco Amarkantak Power for ₹4,101 crore.

Ambuja Cements share price live updates: Stock trades 1.37% higher

Ambuja Cements stock rose 1.37% to trade at ₹640.45 as at 10.38 am.

Adani Group in focus: Adani promoter entities may cut stakes in some firms to pare debt

Adani group’s promoter entities are looking to sell stakes in some group entities to raise funds that can be used to retire high cost loans taken to fund its acquisition of Ambuja Cements and ACC as well as to invest in real estate in Mumbai, sources said.

The promoter entities are likely to sell around 3-5 per cent stake in some companies where they have comfortably high stakes such as Adani Power (72.7 per cent), Ambuja Cements (70.3 per cent) and Adani Enterprises (74.7 per cent), to raise up to ₹15,000 crore, the sources said.

Janaki Krishnan writes

Read more

Adani founders to raise $500 million from cement unit share sale: Bloomberg

Adani family plans to sell $500 million of Ambuja Cements Ltd.’s shares.

Holderind Investments Ltd. will sell 69.96 million shares, or 2.84% stake in the cement maker, for 41.98 billion rupees, according to terms of the deal seen by Bloomberg. 

The terms didn’t elaborate how the founders intend to use the proceeds from the stake sale. CNBC-Awaaz reported earlier Thursday, citing people it didn’t identify, that Adani founders may sell as much as 5% stake in Adani Power Ltd. and Ambuja Cements to repay the media-to-mining conglomerate’s debt.

Ambuja is one of the two firms the Adani Group bought in 2022 from Holcim Ltd. to emerge as India’s second-largest cement maker overnight. The conglomerate, which faced a withering short seller attack from Hindenburg Research LLC last year, is now back on its growth spree. It has been buying local cement firms in an escalating turf war with sector leader, UltraTech Cement Ltd. to dominate a raw material key to India’s infrastructure boom.

The transaction will help boost Adani companies’ public float. Robust appetite for the group’s share sale will also be a sign of investor confidence after Hindenburg’s allegations of a widespread corporate malfeasance in 2023 sparked a rout in the group’s shares. Adani Group has repeatedly denied these allegations.

Jefferies India is the advisor for the secondary market transaction, which will be executed Friday. 

Bloomberg

Adani Power share price update: Adani Power shares rise 1% 

Adani Power shares rose 1.19% on the NSE to trade at ₹681.70 as at 10.12 am. 

This follows NCLT Hyderabad bench approval of Adani Power’s its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of ₹4,101 crore. LAPL is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, a BSE filing said. 

Stock market live updates today: Indices open flat

Track bl’s stock market live updates here

Adani Group shares in focus: These Adani Group stocks featured among stocks that will see action today 

Adani group promoters may sell up to 3 per cent of their shares in Ambuja Cements as part of a regular adjustment of holdings they carry to keep stake across the ports-to-energy conglomerate at desired levels, a PTI report quoting sources said. Promoters will sell about 7 crore shares, or 2.84 per cent, in the cement maker for ₹4,198 crore, the report said adding that the offer price of ₹600 apiece is at a 5 per cent discount to Thursday’s closing price of ₹632.90 on BSE.

In addition, Adani Power has informed the exchanges that the NCLT Hyderabad bench has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 4,101 crore. 

KS Badri Narayanan writes

Click to read more

Adani Group stocks in focus: Ambuja Cements, Adani Green Energy and Adani Power shares rose over 1%

Adani Group stocks outlook as at 9.40 am

Ambuja Cements share price in focus: Shares were up 2%

Ambuja Cements stock rose 2.09% on the NSE, trading at ₹645 as at 9.45am. Adani group promoters may sell up to 3 per cent of their shares in Ambuja Cements as part of a regular adjustment of holdings they carry to keep stake across the ports-to-energy conglomerate at desired levels.