A round-up of the biggest articles from newspapers
A round-up of the biggest articles from newspapers
Adani Group stocks snap losing streak after eight trading sessions, some end in green
Adani Group stocks rallied in early trade on Tuesday but gave up most of the day’s gains as investors used the rebound to slash bets. Flagship Adani Enterprises shares gained as much as 25 per cent intraday before closing 14.63 per cent higher. Adani Ports gained 10 per cent intraday and closed 1.33 per cent higher. Ambuja Cements rose 1.12 percent. However, Adani Green Energy, Adani Power and Adani Total Gas failed to sustain the positive momentum and declined to hit the 5 per cent lower circuit barrier.
Why it’s important: The relief rally in Adani stocks took place after the promoters repaid $ 1.1 billion worth of debt backed by shares in three companies. It remains to be seen whether the bounce sustains.
Government to privatize state-owned finance firms only after 2024 general elections
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