Moody's Investors Service Upgrades 4 Adani Companies From Negative To Stable

Adani Group Stocks: There is news of relief for Adani Group. Moody's Investors Service has decided to upgrade four companies of Adani Group. After the report of American shortseller Hindenburg Research came out, Moody's had downgraded the outlook of these four companies of Adani Group to negative. But now Moody's has upgraded it to stable.

Rating agency Moody's has upgraded the ratings of Adani Green Energy, Adani Green Energy Restricted Group (AGEL – RG-1), Adani Transmission Step One and Adani Electricity Mumbai from negative to stable. After the Hindenburg Research report came out in February 2023 last year, Moody's, while reviewing the outlook of these four companies, reduced it from stable to negative. Moody's had then expressed concern about access to capital and capital loss.

Moody's has given stable rating to the outlook of Adani Ports and SEZ, Adani International Container Terminal Private Limited, Adani Green Energy Restricted Group (AGEL RG-2) and Adani Energy Solutions Limited Restricted Group One (AESL RG1).

On January 24, 2023, Hindenburg Research released a report accusing the Adani Group of manipulating share prices to drive them up. After this report came out, all the 10 stocks of Adani Group listed in the stock market started falling. Due to the report, Adani Group's stocks fell by up to 85 percent. The market cap of the group decreased by Rs 12 lakh crore. One year has passed since the Hindenburg report. Many stocks of Adani group companies have come out of that declining phase. However, many stocks have still not been able to come out of that shock.

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