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On March 28, BSE had asked Adani Enterprises for an explanation regarding the fall in Adani shares. The explanation was sought in connection with the news that Adani shares were facing losses.
Adani Group would like to assure you that all loans related to the promoter have been repaid. But here’s why you shouldn’t believe it, reports Ken.
On March 28, 2023, a report on the Ken news website during the premarket was the reason for the fall in Adani shares. Adani Enterprises shares fell as much as 7.35%. And Adani’s other listed companies also suffered losses, the Adani Group told the stock exchanges.
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Adani Group Says The Allegation Is Malicious; The report of non-repayment of loans was rejected
On March 28, Adani Group had said that KEN had published false news regarding loan repayment. The information given below is filed with BSE as an explanation.
After the company’s explanation, on March 28, the share price of Adani Enterprises reached its original level (opening position). Later that same day, Ken updated the published news. Adani Group has repaid loans taken against promoter shares. But the disclosure was updated as ‘not added’.
On March 29, NSE asked the Adani Group to intervene in the matter by contacting the editor of the concerned media outlet. The NSE said there were inconsistencies between the explanation given by the Adani Group regarding its positions and the report published by Ken.
In the filing, Adani Group said that it has provided the necessary disclosures as per SEBI’s 2015 Rules (Listing Obligations and Disclosure Requirements) and agreements related to stock exchanges and will continue to do so in the future.
Disclaimer : This is not an investment/trading advice of any kind
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