It's Time For Africa: Adani Shares Bleed Further On Scrapping Of Kenya Project

Adani Group shares continued to plummet even on Friday, this time after Kenya canceled the airport project with the group. After opening gap down, Adani Enterprises shares were down 3.51 per cent at the time of this report at about 10.40 am. Adani Ports was down by 3.38 per cent, while Adani Green Energy Limited stocks dropped by 8.06 per cent shortly after the market opened.

The decline comes at a time when  Nifty and Sensex rose. While NIfty opened at 23,411.80, 30-share BSE Sensex opened at 77,349.74 points. Ajay Bagga, a Banking and Market Expert said, "The Indian stock markets are expected to show cautious movement today due to mixed global and domestic cues."

Adani Group US Court order saga

The Adani Group issued a statement on Thursday saying that the US Department of Justice's allegations are ‘baseless and denied’. In a detailed statement, Adani Group said that the company will seek legal recourse. Earlier, a US court indicted billionaire Gautam Adani and others for ‘bribery and fraud’.

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