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Adani Green: Adani Green gains after 12 days of decline, this stock jumps so much – Adani Green Energy shares gain 4 percent on refinancing plan snap 12 day losing run Full details tutd

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Finally, after 12 days of decline, the shares of Adani Green Stock were seen in the green mark. Shares of Adani Green registered a gain of four per cent on Friday. The rise in Adani Green’s shares was seen after the reports of Reuters, which said that Adani Group is working on the company’s refinancing plan and it will be revealed after the end of the current financial year. An executive of the group has informed the bondholders of Adani Green in this regard on a call on Thursday.

stock surge

After this news, shares of Adani Green Energy rose by 3.63 per cent to Rs 638.85 on BSE. On February 16, the stock had come down to a low of Rs 591. After the Hindenburg report, there has been a sharp decline in the shares of Adani Group. Adani Green is also one of them.

Sharp decline after Hindenburg’s report

Adani Green shares opened at Rs.628 on BSE today and made an intraday high of Rs.639 on BSE. Today’s low level of Adani Green is Rs.620.00. Adani Green’s shares have broken sharply since Hindenburg’s report. Due to this, the market capitalization of Adani Green has declined by more than 50 percent.

From January 24 to February 15, the market cap of Adani Green has decreased by 68 percent. In the last one month, shares of Adani Green have lost more than 70 percent. Adani Green’s 52-week high has been Rs 3,050.

Moody’s gave negative rating

After getting caught in the storm of decline, the company has made a plan for refinancing. The company has hired banks to arrange calls with bond investors. Adani Green Energy Restricted Group and Adani Green Energy are among the four companies for which Moody’s had given ‘negative’ rating.

Adani Group trying for recovery

Adani Group is trying to win back the trust of investors after the fall in its shares due to the report of American firm Hindenburg. The Adani group has appointed accountancy firm Grant Thornton to independently audit some of its companies to disprove Hindenburg Research’s claims. After the Hindenburg report that came on 24 January, the Adani Group has made its first major effort to defend itself. Due to the Hindenburg report, the shares of Adani Group have crashed to such an extent that the market capitalization of the companies has decreased by more than 50 percent.

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