All stocks belonging to the Adani group — including Adani Enterprises (ADANIENT), Adani Ports (ADANIPORTS), Adani Power (ADANIPOWER), Adani Transmission (ADANITRANS) and Ambuja Cements (AMBUJACEM) — suffered steep losses on Wednesday, in more pain for investors amid a crisis at the embattled conglomerate.
In order to restore confidence among investors, Adani Group is taking several measures. One such measure was repaying the loans. Adani group firm Adani Ports & SEZ paid Rs 1,500 crore loan and promised to repay more as the group makes a comeback strategy after a sellout triggered by a damning report by US-based Hindenburg Research.
Reportedly, in another measure to stop the further stock price fall, Gautam Adani has requested the market regulator, SEBI (Security Exchange Board of India) to reduce the trading time.
In his letter to SEBI, Gautam Adani requested SEBI to keep the trade timing for 15 mins only, 9:15 to 9:30. Citing a report by Hindenburg, Gautam Adani said trading is consuming a lot of time of youth which can be utilized in a better way.
“It’s a zero sum game, someone’s loss is someone’s gain, giving so much time to it is not worth. 15 mins is enough for that” said Gautam Adani.