Gautam Adani's project suffered a setback, Green Hydrogen hangs for 5 years!

A year ago, in the month of June itself, Gautam Adani, the country's second richest businessman, had announced an investment of $50 billion on the Green Hydrogen Project. Then he had said that he would provide the world's cheapest green hydrogen in the country.

Gautam Adani's dream project has come into view. Gautam Adani, who showed the country the dream of cheap green energy, has to stop his project. In fact, after the Hindenburg Research report, Adani Group has suffered a big loss. At the same time, according to which the funding should have happened, it has not happened. Apart from this, Adali Enterprises FPO was brought in to give permission to the project, that too has collapsed. In such a situation, the project of Adani Group has been postponed for 3 to 5 years. In this sector, Adani's direct competition was with Mukesh Ambani. Reliance Industries has also announced to invest heavily in this sector.

Dream project postponed for 5 years

A year ago, in the month of June itself, Gautam Adani, the country's second richest businessman, had announced an investment of $50 billion on the Green Hydrogen Project. Then he had said that he would provide the world's cheapest green hydrogen in the country. At that time Adani had put his vision in front of the whole world. Now this project has to be postponed for the next 5 years. At the same time, this is a blow to India as well because the future of the country's green hydrogen ecosystem was also linked to this project. According to Adani, quoting ET's report, the expansion of the green hydrogen project will be completed from 2026 to 2028. It seems impossible to get funding for this project in the next two years. Robbie Singh, CFO of Adani Enterprises has confirmed this.

AEL FPO has also had an impact

After the Hindenburg Research report, Gautam Adani had also brought FPO of his flagship company Adani Enterprises. Due to the continuous fall in the shares, Gautam Adani canceled it even after being fully subscribed and returned the entire money of the investors. A major part of the money coming from this FPO was to be spent in the Green Hydrogen project. In such a situation, the kind of planning that was done for the project got destroyed. In such a situation, Gautam Adani has to postpone this project for a few years.

Adani shares rise

1. The shares of Adani Enterprises have seen a gain of about two per cent and the company's stock is trading at Rs 2489.80.

2. The share of Adani Port is trading at Rs.742.10. At present, a growth of 0.77 percent is being seen.

3. Adani Power's share is trading at Rs 256.70 with a gain of Re 1.

4. The stock of Adani Transmission is seeing a gain of more than 4 percent and the company's stock is at Rs 828.50.

5. Adani Green Energy's stock is trading at Rs 986.95 with a gain of Rs 2.30.

6. The stock of Adani Total Gas is seeing an increase of about 2 percent and the share price is trading at Rs.687.60.

7. Adani Wilmar's stock is trading at Rs 436.10, down by Rs 1.30.

8. The share of ACC Limited is trading at Rs.1823.05 with a gain of Rs.7.65.

9. Ambuja Cement's share is trading at Rs 439.90 with a gain of Rs 2.15.

10. NDTV shares are trading flat at Rs 242.10.