Sharp selling in shares of all 11 listed companies of Adani Group

Shares of group companies fell on Thursday after bribery allegations were leveled on Adani Group, but in the next two days Mishra joined a total of 11 listed companies of the group. However, major credit rating agencies Moody’s and Fitch subsequently downgraded the ratings of some of the group companies from stable to negative.

After allegations of bribery against Adani Group in America, Moody’s today downgraded the ratings of seven companies of Adani Group. Moody’s said it has downgraded the ratings of seven Adani Group companies, including Adani Green Energy and Adani Ports, from stable to negative. These companies include Adani Green Energy, Adani Electricity Mumbai Limited, Adani Transmission, Adani Ports and Adani International Container Terminal. On the other hand, American credit rating agency Fitch also downgraded the outlook of four companies of Adani Group today. According to Fitch, the ratings of Adani Group companies Adani International Container Terminal Private Limited, Adani Green Energy Limited, Adani Ports, Adani Energy Solutions Limited have been reduced from stable to negative.