Adani Power, Adani Green, Adani Wilmar, Adani Transmission shares in focus today after circuit revisions

Shares of four Adani group companies are in focus on Wednesday morning following upward revision in their circuit limits by stock exchanges. In the case of Adani Power, the circuit  limit has been revised to 20 per cent from 5 per cent earlier. For Adani Green Energy, Adani Wilmar and Adani Transmission, the circuit limit has been changed to 10 per cent from 5 per cent earlier. The move came a week after NSE and BSE removed the securities of Adani Enterprises from the short-term ASM framework. On May 24, both the bourses put Adani Enterprises under the short-term additional surveillance measure (ASM) framework.

The Gautam Adani-led group, which has interests ranging from ports to airports, from electricity generation to transmission and distribution, from edible oil to FMCG products, logistics, cement, and roads, recorded its highest ever Ebitda at group portfolio level of Rs 57,219 crore in FY23, up 36 per cent YoY.

Adani portfolio companies operate in utility and infrastructure businesses with more than 83 per cent Ebitda being generated from core infrastructure businesses.

Watch: Adani Power, Adani Transmission and 2 other group stocks rise as BSE, NSE raise circuit limits

Watch: Multibagger penny stock: Suzlon Energy shares price jumps 60% in 1 month; See what's driving the rally

Adani Group had on Monday said it has repaid loans aggregating $2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller.

In a note released on Monday, Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms and also another $700 million in loans taken for the acquisition of Ambuja Cements.

Adani stocks have rebounded recently, but are still trading lower than January 24 levels. The US-based short seller Hindenburg Research had on January 24 levelled allegations of fraud and stock manipulation against the Adani group. The conglomerate has denied all the allegations. However, a Supreme Court-appointed panel found no evidence of stock price manipulation in the Group companies.

Also watch: Buzzing stocks on June 7, 2023: Suzlon, EKI Energy, Reliance Power, others