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Adani Group

Shares in Adani flagship rally following early payment of debt

Indian conglomerate has been engulfed in crisis since short-seller attack

Ratings agency Moody's Investors Service says "adverse developments" could reduce the Adani Group's ability to raise money in the next one to two years.   © EPA/Jiji

TOKYO -- Shares in the Adani Group's flagship company rallied on Tuesday after the Indian conglomerate said it would prepay $1.1 billion in loans as it fights to rebuild investor confidence following a brutal short-seller attack.

Stock in the flagship Adani Enterprises closed trading on the BSE (formerly the Bombay Stock Exchange) up 15.3% after losing ground earlier in the day, while consumer goods retailer Adani Wilmar rose 5%. Shares in Adani Ports and Special Economic Zone climbed 1.9%. However, Adani Power, Adani Total Gas and Adani Green Energy all fell about 5%, while Adani Transmission was down 0.9%.

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