Adani Shares Trade Higher As Group Likely To Raise $4 Billion To Fund Green Hydrogen Plan

The share price of Adani group stocks including Adani Enterprises, Adani Green Energy, and Adani Adani Power remained in focus on Friday after a media report highlighted that the Gautam Adani-led group is looking to raise as much as $4 billion to fund its green hydrogen plans.

Today, the share price of Adani Enterprises was spotted trading 2.21% higher at Rs 2251.65 per share. The share price of Adani Green Energy and Adani Ports was up 3.60% and 1.04% at Rs 879.75 per share and Rs 778.45 per share.

The share price of Adani Total Gas was up 3.13% at Rs 550.40 per share, while Adani Power shares were up 3.88% at Rs 341.05 per share in intraday trading.

According to a Reuters report, Adani Enterprises' unit Adani New Industries, which is in early-stage discussions with several lenders, will raise the money from domestic and international banks, the report said, citing people familiar with the matter.

In September, French oil giant TotalEnergies announced its decision to invest $300 million to form a joint venture (JV) with Adani Green Energy to build renewable capacity in India.

In an exchange filing on October 25, Adani Enterprises said that that the Meeting of the Board of Directors of the Company will be held on November 2, 2023 inter-alia to consider and approve the Unaudited Financial Results of the Company for the quarter and half year ended 30th September 2023.