Adani Enterprises, Adani Power, Adani Green: Adani Shares Trading Lower Today

The share price of Adani group stocks including Adani Enterprises, Adani Power, and Adani Green Energy remained on investors' radar on Monday. This week a host of companies will be announcing their second quarter results keeping the Dalal Street busy.

The share price of Adani group firm Adani Ports and Special Economic Zone Limited remained in focus after the company informed that it had completed the early settlement of Notes tendered pursuant to the Tender Offer to purchase for cash up to US$195,000,000 in aggregate principal amount of the outstanding 3.375% Senior Notes due 2024 (the "Notes") on October 12, 2023. The Company has arranged for the tendered Notes to be canceled on or around October 13, 2023.

In an exchange filing on Saturday, the company said, "The Company paid a total of US$191,534,834.53, comprised of (i) the Early Tender Offer Consideration in the amount of US$975 per US$1,000 principal amount, and (ii) accrued interest, of US$7.4063 per US$1,000, of US$194,965,000 in aggregate principal amount of the Notes validly tendered on or prior to 5:00 P.M., New York City time, on October 11, 2023 (the "Early Tender Date") and accepted for purchase by the Company on October 12, 2023 (the "Tendered Notes").

The Company has arranged for the Tendered Notes to be canceled on or around October 13, 2023. The aggregate principal amount of Notes that remain outstanding following the cancellation is US$325,035,000 (the "Outstanding Notes")."

Adani Ports shares were spotted trading 0.26% lower at Rs 811.40 per share at 11:08 am IST. The stock has a 52 Wk High and 52 Wk Low of Rs 916.00 and Rs 394.95.

Adani Enterprises:

The share price of Adani Enterprises was spotted trading 0.18% lower at Rs 2450.15 per share on Monday. Last week the Adani Group's flagship firm stated that the step-down subsidiaries of Adani Enterprises Limited - Mumbai International Airport Limited ('MIAL') and Navi Mumbai International Airport Limited ('NMIAL'), have received communications from the Office of the Regional Director, Southeast Region, Hyderabad, Ministry of Corporate Affairs, concerning the initiation of investigation of books of accounts and other books and papers in terms of section 210(1) of the Companies Act, 2013.

Adani Green Energy:

The share price of Adani Green Energy traded 0.37% lower at Rs 945.10 per share at 11:19 am IST today. Last week, the company shared its provisional operational update for the H1 of the FY 2023-24.

Operational Capacity increases by 24% YoY to 8,316 MW with the addition of 1,150 MW solar-wind Hybrid, 212 MW solar, and 230 MW wind power plants. In Q2 FY23, Sales of Energy were up by 157% compared to Q2 FY23 on the back of the capacity addition of 230 MW in Gujarat - 1430 bps improvement in CUF.

In the domestic equity market, the two benchmark indices traded on a flat note. At the time of writing this article, Sensex was down 0.07% at 66,236.35 points, while Nifty 50 was down 0.03% at 19,745.70 points.