Two Adani group companies — Adani Green Energy and NDTV — will release their financial results for the fourth quarter that ended on March 31, 2023, on Monday. This will be the first quarterly earnings by the Adani Group companies after a scathing report by US-based short-seller Hindenburg Research on January 24 triggered a sell off in the shares of the ports-to-power conglomerate.

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Shares of Adani Green Energy Ltd settled 3.81 percent higher at Rs 952 apiece in Friday's trade. The stock was up nearly 6 percent in the last one week and nearly 14 percent in the last one month, while it fell 50 percent on a year-to-date basis.

Adani Green will host an Earnings Call with equity investors and analysts, which will be organised by Investec. The Adani Group company will also have an Earnings Call with debt investors, organised by Standard Chartered Bank.

"We would like to inform you that the meeting of the Board of Directors of the company will be held on Monday, May 01, 2023 to consider and approve the Audited Financial Results for the quarter and year ended March 31, 2023," the firm said in a regulatory filing.

Shares of Adani Green have an average broker target of Rs 3,581, suggesting a further upside of 276.55 percent, according to data from Trendlyne.

NDTV will also release its fourth quarter earnings today. The stock closed 4 percent higher at Rs 189 apiece on Friday. NDTV shares are up 3 percent in the last one week, while on a year-to-date basis it is down 44 percent.

The Hindenburg report led to weak sentiment around the Adani Group stocks. In response, the Group dismissed Hindenburg's allegations, calling it maliciously, mischievous and unresearched.

First Published:May 1, 2023 12:07 PM IST