Stock Market Update Today, 28 July 2023: Most Adani Group stocks advanced in trade after Adani Enterprises Ltd.’s subsidiary, Adani New Industries Ltd. raised funds for a trade finance facility of $394 million, or Rs 3,231 crore, from Barclays PLC and Deutsche Bank AG. This is to secure working capital for its integrated solar module manufacturing facility.
Adani Enterprises Ltd. rose as much as 1.76% as of 10:57 a.m., whereas Adani Transmission Ltd., Adani Power Ltd., and Adani Ports & SEZ Ltd. also rose more than 1% in trade. Only NDTV Ltd. declined as its June quarter loss widened.
The group’s market cap increase by Rs 11,508.29 crore to Rs 10.66 lakh crore on Friday, intraday.
Rupee Weakens Against The U.S. Dollar
- The local currency weakened 41 paise to trade at Rs 82.35 intraday against the U.S dollar. It closed at 81.94 on Thursday.
- The depreciation led the currency to weaken the most since July 11 levels when it was at 82.44.
- In terms of a single-day move, Rupee weakened the most since Feb. 6, when it fell by 91 paise.
Source: Bloomberg