Mumbai: Finance Minister Nirmala Sitharaman presented the budget today. After this the stock market opened with gains. After Sitharaman’s budget speech, the Sensex of the Mumbai Stock Exchange saw a gain of about 1000 points. It ended the day at 59,708, up only 158 points. But the shares of Gautam Adani Group’s companies continued to decline for the fifth consecutive day today. Though the follow-on public offer (FPO) of Adani Group flagship Adani Enterprises was paid-up 112%, the stock fell 6% today on the second day after the FPO closed. Despite the good growth on the day of the budget (Union Budget 2023), the prices of some shares of Adani Group are not increasing. Shares of Adani Enterprises fell 6% to Rs 2,800 today. The stock had closed at Rs 2,974 on Tuesday. The company’s FPO was closed on January 31 after 112%.
Adani Group reacted in this matter
While the reserve for shareholders was filled at 126% and the reserve for retail investors at 12%. The reserve for the staff was also filled by 53%. Today Adani Green Energy fell 6% to Rs 1,151. Adani Ports fell 3% to Rs 594 today. Adani Total Gas fell 10% to Rs 1,897. According to a report, the fall in Adani Group’s shares is the result of Hindenburg’s negative report. Adani Group has given a response in this matter.
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Stocks will remain under pressure for some time
Also, SBI and LIC have not raised concerns about the group companies. Adani group companies have no unsecured debt. Experts say that the pressure on the shares of Adani Group will remain for some time. So investors will have to wait for some time. What will be revealed further from the company, it will be a matter to be seen.