Shares of Adani Group companies Wednesday plunged by up to eight per cent, wiping out over Rs 9,000 crore in market value after BJP MP Subramanian Swamy called Gautam Adani the \u201cbiggest NPA trapeze artiste in PSUs.\u201d Shares of Adani Transmission fell 7.72 per cent to close at Rs 179.85 on the BSE. Besides, Adani Enterprises plunged 7.24 per cent to settle at Rs 172.40.<\/p>\n
In addition, scrip of Adani Ports & SEZ tanked by 6.53 per cent to settle the day at Rs 377.45, while Adani Power declined 6.6 per cent to close at Rs 27.60. Following the decline at the counters, the market capitalisation of the companies eroded by more than Rs 9,300 crore collectively. In a tweet yesterday, Swamy said: \u201cThe biggest NPA trapeze artiste in PSUs is Gautam Adani. It is time he is made accountable or a PIL (public interest litigation) is inevitable\u201d.<\/p>\n
\u201cThere are a number of things he is getting away with and nobody is questioning him. It may become an embarrassment for the government as he portrays himself as close to it,\u201d he claimed.<\/p>\n
Reacting to Swamy\u2019s comments, the Adani Group had issued a statement saying it has a history of implementing world-scale infrastructure projects within a short time and the lowest cost quartile.<\/p>\n
\u201cCapital intensive projects necessarily require debt capital,\u201d it said.<\/p>\n
\u201cGiven our rating track record, different sources of debt are available to the Group, ranging from international bonds, ECB loans, domestic bonds, loans from the private sector as well as public sector banks in India.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Adani Group companies Wednesday plunged by up to eight per cent, wiping out over Rs 9,000 crore in market value after BJP MP Subramanian Swamy called Gautam Adani the \u201cbiggest NPA trapeze artiste in PSUs.\u201d Shares of Adani Transmission fell 7.72 per cent to close at Rs 179.85 on the BSE. Besides, Adani […]<\/p>\n","protected":false},"author":1,"featured_media":24142,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-24141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/24141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=24141"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/24141\/revisions"}],"predecessor-version":[{"id":24143,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/24141\/revisions\/24143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/24142"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=24141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=24141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=24141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}