Dollar bonds of India's Adani Group extend gains

<html xmlns=""><head><title>Dollar bonds of India's Adani Group extend gains</title></head><body>

MUMBAI, Feb 3 (Reuters) -The U.S. dollar-denominated bonds issued by entities of India's Adani Group extended gains on Friday.

The dollar bonds of Adani Ports and Special Economic Zone APSE.NS, Adani Transmission ADAI.NS, Adani Green Energy ADNA.NS and Adani Electricity Mumbai were all trading in the green.

Bonds of Adani Green Energy maturing in September 2024 XS2383328932=TE was among the top gainers after hitting a record low in the previous session. It was trading 7.32 cents higher, at 67.59 cents.

Earlier in the day, credit ratings agency Moody's warned that the recent sell-off in Adani group's shares after a short-seller's report could reduce the conglomerate's ability to raise capital. It, however, it did not change its ratings on the group's companies.

Meanwhile, its peer Fitch saw no immediate impact on its ratings and said that it did not expect material changes to Adani Group's cash flow forecast.

In a scathing report last week, Hindenburg Research questioned the conglomerate's debt levels and use of tax havens. Billionaire chairman, Gautam Adani, called the report baseless and affirmed its financials are strong.

Reporting by Dharamraj Dhutia
Editing by Eileen Soreng


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.