Adani Enterprises Ltd. and its green arm recorded massive block trades, fueling speculation on transactions worth approximately $900 million.
head of indian billionaire Gautam Adani A single block traded 18 million shares on Wednesday, or about 1.6% of its outstanding stock, according to data compiled by Bloomberg. Adani Green Energy Limited had a total of 35.2 million share changes.
Adani tries to restore investor confidence after US short-seller alleges fraud Hindenburg Research More than $150 billion was wiped out in the value of his companies, which ranged from ports to electricity businesses. The conglomerate has made acquisitions and written off prepaid debt, measures that have helped the shares make a partial recovery.
The block trade for Adani Enterprises was done at Rs 2,300 ($28), higher than its close of Rs 2,284.45. For Adani Green, trades ranged from Rs 920 to Rs 924.75, a discount to Tuesday’s close, and constituted about 2.2% of its outstanding stock.
Based on average prices, the trades are worth about $900 million, according to Bloomberg’s calculations.
Adani Enterprises jumped 5.9% to Rs 2,419, while Adani Green fell 1.5% to Rs 945.45.
One investor who has backed Adani is veteran emerging markets fund manager Rajeev Jain. In March, his GQG Partners LLC acquired shares worth about $2 billion in four Adani companies and in May Jain said that GQG had increased its stake in the Adani Group to about 10% and would not be involved in any future funds by the group. Can participate in gathering.
head of indian billionaire Gautam Adani A single block traded 18 million shares on Wednesday, or about 1.6% of its outstanding stock, according to data compiled by Bloomberg. Adani Green Energy Limited had a total of 35.2 million share changes.
Adani tries to restore investor confidence after US short-seller alleges fraud Hindenburg Research More than $150 billion was wiped out in the value of his companies, which ranged from ports to electricity businesses. The conglomerate has made acquisitions and written off prepaid debt, measures that have helped the shares make a partial recovery.
The block trade for Adani Enterprises was done at Rs 2,300 ($28), higher than its close of Rs 2,284.45. For Adani Green, trades ranged from Rs 920 to Rs 924.75, a discount to Tuesday’s close, and constituted about 2.2% of its outstanding stock.
Based on average prices, the trades are worth about $900 million, according to Bloomberg’s calculations.
Adani Enterprises jumped 5.9% to Rs 2,419, while Adani Green fell 1.5% to Rs 945.45.
One investor who has backed Adani is veteran emerging markets fund manager Rajeev Jain. In March, his GQG Partners LLC acquired shares worth about $2 billion in four Adani companies and in May Jain said that GQG had increased its stake in the Adani Group to about 10% and would not be involved in any future funds by the group. Can participate in gathering.