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Shares of Adani Enterprises Ltd., the flagship company of the Adani Group and Adani Ports Ltd. will be in focus on Monday owing to multiple factors.
Firstly, promoters of Adani Enterprises have further increased their stake in the company by 2.06 percent between August 21 and September 7. Promoters now own 71.93 percent stake in the company.
Similarly, promoters of Adani Ports have also increased their stake by 2.17 percent in the company between August 14 and September 8, taking their total holding to 65.23 percent.
Additionally, an Adani Group unit, Adani Global has signed a Joint Venture agreement with Kowa Holdings, Singapore for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by the Adani Group. Both parties will hold a 50-50 percent stake in the Joint Venture.
Adani Group stocks have been in focus since the start of the year after a report from Hindenburg Research alleged stock price manipulation from the conglomerate. Stocks saw a major correction post that but are slowly rebounding from those lows. The Superme Court is yet to hear the case post the SEBI investigation and submission of its report.
While shares of Adani Ports are already above the pre-Hindenburg levels, those of other group companies are still recovering.
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