Adani Enterprises said the news item was factually incorrect and that the company was in no position to comment on the veracity of the said media report
Shares of Adani Enterprises were trading half-a-per cent lower in Thursday’s trade after the company denied reports that the Adani Group was looking to buy promoter stake in Orient Cement. This was the fourth day of fall for the Adani Group stock.
A similar clarification had come from Orient Cement in the previous session. This stock traded marginally higher in Thursday’s trade, taking its winning run to the third straight day.
In a response to BSE, Adani Enterprises said the news item was factually incorrect and that the company was in no position to comment on the veracity of the said media report.
“In the event, there is any development that requires disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we will disclose the same in accordance with the regulatory requirements,” Adani Enterprises said.
Shares of Adani Enterprises fell 0.37 per cent to Rs 3,813.25. This was the fourth day of fall for Adani Enterprises. Orient Cement gained 0.5 per cent to Rs 139 apiece. This stock gained 4.42 per cent on Wednesday and 8.03 per cent on Tuesday.
In a clarification earlier, Orient Cement said the company has promptly intimated the stock exchanges regarding all events and disclosed all information, that has a bearing on the operations or performance of the company.
This, it said, includes all price-sensitive information, as and when required.
“With regard to the news item, we wish to state that the company is not privy to any such discussion, and therefore cannot comment on the same. We further wish to clarify that at present there is no material information/ announcement, including impending announcement, which in the opinion of the company may have a bearing on the price/ volume behaviour of the scrip. You are requested to take the above information on record,” it said.
Earlier, ET had cited a report by Informist suggesting Adani Group was in talks with the promoter of CK Birla Group-owned Orient Cement to acquire a stake in the company, citing sources. The report suggested that the Orient Cement promoter was in talks with other investors as well, besides Adani.
Source: Business Today
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