The Adani Group has requested that the stock exchanges "take necessary action against such agencies whose actions are not in favor of the investors at large." This was in answer to Adani Enterprises' request for clarification following a news story titled "Adani stocks lose up to 8%; all 10 counters in red" on Tuesday, March 28, 2023. The Adani Group claims that the 'The Ken' report with the headline "The Adani Group wants you to believe it has repaid all its loans against promoters'" is to blame for the fall in its stock on Tuesday, March 28, 2023.
The news article published by The Ken on its website during pre-market hours on March 28, 2023, can be blamed for the fall in Adani shares. In line with other listed Adani group firms, the stock price of Adani Enterprises dropped up to 7.35%, the company reported.
On March 28, The Adani Group provided clarification and "refuted the false story on repayment of loans against shares reported by The Ken," according to a statement. "As of March 28, 2023, the share price of Adani Enterprises Ltd has risen to its original level (opening position), based on the clarification so made by the Company. The original news report has been updated by The Ken to read, "The Adani Group redeemed its loans against promoters' shares," as of today at 3:30 p.m. But, the details don't match up, Adani Enterprises Ltd. claimed in their BSE report.
The NSE also said in the exchange filing that Adani Enterprises was recommended to "take the issue up with the editor of the relevant newspaper/newswire since the news stories published by The Ken were at conflict with the actual position clarified by the Company" on March 29, 2023. In accordance with our duties under the SEBI (Listing Obligations and Disclosure Requirements) Rules, 2015 and our agreements with the stock exchanges, we have made and will keep making disclosure, the statement said.
