Adani Green seeks $400 million in offshore loan: Report – EQ
In Short – According to reports, Adani Green is pursuing a $400 million offshore loan. This move suggests the company’s intent to secure funds for its renewable energy ventures. Adani Green’s pursuit of international financing reflects its commitment to expanding its green energy portfolio and underscores the global significance of renewable energy investment in today’s economy.
In Details – Adani Green is looking to raise $400 million in offshore loans for an upcoming renewable project. Adani Green Energy Limited is planning to raise $400 million through an offshore loan, reported Bloombe The energy arm of Gautam Adani is looking for funds for its upcoming renewable project, according to people familiar with the matter mentioned in the report. However, Indiatoday couldn’t confirm this news independently. Shares of Adani Green were recently seen trading 0.03% lower at Rs 1,919.75. Both BSE and NSE stock exchanges have put Adani Green’s securities under a long-term ASM (Additional Surveillance Measure) framework. This is done to warn investors about big changes in share prices.
The market value of Adani Green stands at Rs 3,03,326.38 crore.Looking at the technical side, the share price was above different moving averages like 5-day, 10-day, etc. The 14-day RSI (Relative Strength Index) was at 55.98. If the RSI goes below 30, it’s called oversold, and if it’s above 70, it’s considered overbought. The company’s stock has a negative P/E (Price-to-Earnings) ratio of 464.98 and earnings per share (EPS) is 0.61. India is aiming to almost triple its clean energy capacity by the end of the decade. This will mostly be done through solar and wind projects, with the goal of reducing the country’s reliance on fossil fuels. To achieve this goal, India plans to invest $30 billion in building transmission lines that will connect green power to the grid.
