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Adani Group stocks rallied after the company clarified that its chairman, Gautam Adani, and other executives are not facing bribery charges as per the US Department of Justice. Moody's, however, revised its outlook on seven Adani companies to negative, citing governance concerns and potential operational disruptions amid ongoing legal proceedings.
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Apex Ecotech's SME IPO opens today, seeking to raise Rs 25.54 crore by offering 34.99 lakh shares at Rs 71-73 apiece. The water and wastewater management company plans to list on NSE SME. The IPO closes November 29, with allotment expected December 2 and listing December 4. Proceeds will fund working capital and general corporate purposes.
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Indian benchmark indices closed lower on Tuesday, mirroring global trends. However, Angel One, Zomato, and Hitachi Energy saw gains. Analysts suggest Angel One could reach Rs 3225, Hitachi Energy Rs 13,900, and Zomato could rally above Rs 300. Investors are advised to maintain stop losses.
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