The high stock price of Gautam Adani's company helped make him the second richest person in the world. The bond market is not enthusiastic. The share of companies in his Indian business empire - which range from ports to gas distribution and coal mining - has increased in part due to rising energy costs. Adani Ports and Special Economic Zone Ltd. climbed 29% in 2022 and hit new highs this week, with shares of some of its companies jumping more than 1,000% in the past two years.

But in debt markets, dollar-denominated bonds Adani Ports have fallen more than their Indian peers on worries about the group's debt, and its notes due August 2027 fell to all-time lows this week. , as compiled by Bloomberg. The agreement of group companies includes Adani Green Energy Ltd. and Adani Transmission Step-One Ltd. Also mainly mainly of the largest Indian market.

The awesome concentration that is highly exposed to the damage of the Alani that loves the value of the salt of the edge, try to follow only Elon Musk. The conglomerate's rapid expansion into areas such as renewable energy and media has left it in a position described by Fitch CreditSights as high and "a cause for concern".

"Equity investors are increasingly bullish, giving big money to high-growth targets," said Mumbai-based private equity analyst Hemindra Hazari. "Debtors are worried about leverage."

Adani Group declined to comment when asked about the dollar's performance relative to its Indian peers in the region. In the past, the company has been concerned about high debt, saying that its credit rating has improved in recent years and that it has received injections of equity from global investors.

Adani Ports' $7 billion bond has lost about 14% on average so far this year, while Adani Transmission Step-One notes due 2036 and Adani Electricity Mumbai's 2030 securities have fallen more than 17% each. This was on top of a 10% drop in Indian dollar debt overall and a 13% drop in US dollar bills in Asia ex-Japan, as rising US loans denominated in dollars from the region.
Source: NDTV
#AdaniBonds