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Adani Group Latest News: Know after which report came out, the shares of Adani Group fell heavily

Adani Group Shares: Fitch Ratings’ financial services firm CreditSights has expressed concern over Gautam Adani’s expansion on the Adani Group’s debt. Creditsites has prepared a report regarding Adani Group. After this report came to the fore, on Tuesday, there has been a big fall in the shares of companies listed on the stock exchange of Adani Group. The shares of Adani Power and Adani Wilmar got lower circuit after a fall of 5 percent.

Creditsites released a report on the business of Gautam Adani’s Adani Group, saying that this group is Deeply Overleveraged. The report said that the Adani Group is expanding aggressively, which is increasing the pressure on the company’s financials. The Adani Group is entering a business that requires a lot of capital. The report said that very little capital has been invested by the promoters in the group companies. The report also said that the risk of making bad decisions is also increasing in the fierce competition between the Adani Group and Mukesh Ambani’s Reliance Industries to dominate the market.

The credit research firm said in the report that the Adani group has huge debt outstanding and taking advantage of its situation could have a negative impact on the group. Also, it was said in the report that the company may get caught in the debt trap. In the report, investors have been cautioned about the lack of monitoring in the companies of the Adani group.

Due to this report, out of the seven companies listed in the Adani Group’s stock market, six companies have seen a big decline. Adani Green Energy fell by 3.62 percent, Adavi Power 5 percent, Adani Wilmar 3.87 percent, Adani Transmission 0.62 percent, Adani Ports 0.90 percent, Adani Enterprises 0.87 percent.

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