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[ad_1] MUMBAI: Shares of Indian billionaire Gautam Adani ’s group declined on Monday after boards of two firms approved proposals to raise as much as $2.6 billion, with market watchers flagging concerns about potential equity dilution. Adani Enterprises Ltd , the incubator for new group businesses, slid 4.4% — the most intraday since May 3. The firm got a nod to raise as much as 125 billion rupees ($1.5 billion) via a Qualified Institutional Placement or other modes, according to an exchange filing Saturday. Adani Transmission Ltd can seek up to 85 billion rupees via similar methods, the utility said separately. The stock, which slumped last week amid global index provider MSCI Inc.’s move to exclude it from an India gauge, lost 4.6% in early Mumbai trading. “The approved fundraising is causing dilution concerns,” said Deepak Jasani, head of retail research at HDFC Securities Ltd in Mumbai, adding that the MSCI decision has also hurt sentiment for group stocks in general. The fu...

[ad_1] Last Updated: March 13, 2023, 14:48 IST Why are Ambuja Cement Shares Falling today? However, Shares of Adani Enterprises surged nearly 3 per cent to Rs 1,985 apiece on the BSE in Monday's opening deals; Know Why Ambuja Cements shares were trading in the red in a weak market on March 13 despite the Adani Group pre-paying a $500-million loan for the Ambuja deal. However, Shares of Adani Enterprises surged nearly 3 per cent to Rs 1,985 apiece on the BSE in Monday’s opening deals after the Group said it has fully prepaid share-backed financing worth $2,15 billion. Adani Power, Adani Green Energy, Adani Total Gas and Adani Transmission continued to surge to hit the upper circuit level of 5 per cent. The group said it has completed the entire prepayment of margin-linked share-backed financing, amounting to $2.15 billion, ahead of the committed timeline of March 31, 2023. Since the Hindenburg Research report came out on January 24, the Adani group has been focused on cutting d...