Markets open weak, Adani Enterprises, Adani Port shares rise


Mumbai : Indian markets open weak on Tuesday with Nifty below 17800 points.

The 30-share based BSE Sensex is down 3.64 points or 0.01 percent at 60,503.26. The broad-based Nifty is down 1.60 points or 0.01 percent at 17,763. About 1313 shares have advanced, 775 shares declined, and 127 shares are unchanged.

Among the top gainers are Adani Enterprises, Adani Ports, Dr Reddy, Ultratech cement, while the top losers are Tata Steel, Hindalco, ITC and Heromotocorp.\

The shares of Adani Enterprises, the flagship company of the Adani Group rose by 4.38% to Rs. 1641.55 on the NSE. Similary, Adani Ports and SEZ rose by 3.35% to Rs.563.70 on the NSE. However, other group stocks have continued to witness decline.

Two Adani group firms, Adani Ports and SEZ and Adani Green Energy will announce Q3 results on Tuesday. Better results by these two firms are expected to boost investor sentiment.

Yesterday, Adani group said, it has prepaid $1.11 billion in loans ahead of maturity to release pledged shares in Adani Transmission Ltd, Adani Ports and SEZ Ltd and Adani Green Energy Ltd, in a move aimed at restoring investor confidence and easing the selling pressure in group stocks.

Leave A Reply

Your email address will not be published.