4 Adani group stocks that are still in a free fall since Hindenburg report release
时间:2024-06-26 16:29:29 阅读(143)
Adani Group stocks have faced significant turbulence and heightened volatility since the release of the Hindenburg report on 24 January, which alleged that the Adani Group knowingly engaged in corporate fraud, stock market manipulation and improper usage of offshore funds. While a few of the conglomerate shares have seen a mild recovery on the bourses after a deep plunge, others could still be considered to be in a free-fall. Adani Total Gas, Adani Power, Adani Green Energy and Adani Transmission scrips haven’t had any respite and continue to take a beating. However, Adani Enterprises, Adani Ports and SEZ and Adani Wilmar have seen marginal gains over the past few weeks.Adani Green Energy
From the 24 January closing price of Rs 1,916.8, the scrip has fallen 67.8% to close at Rs 616.30 on Thursday. However, Adani Green Energy shares increased by 4% on Friday, halting a 12-day losing streak. Reuters reported that Adani Green has a refinancing plan, which will be revealed after this fiscal year ends. As a result, Adani Green Energy’s shares rose 3.63% to reach Rs 629.15, having previously fallen to a low of Rs 591 on February 16.
Adani PowerSince 24 January, Adani Power has fallen 46.1% to close at Rs 147.8. Last year, in August, Adani Power agreed to take control of DB Power at an enterprise value of $850 million. However, the company called off its plan to acquire the coal plant, as billionaire Gautam Adani looks to rein in spending and rebuild investor confidence. These reports have given the scrip upwards momentum as it hit its upper circuit of 5% for the second session in a row.
Market capitalisation24 Jan: Rs 1,05,989 crore17 Feb: Rs 59,840 croreFall: 43.5%
Adani Total GasAdani Total Gas shares plunged on Thursday, continuing their decline for 18 straight sessions. The stock dropped by 5%, hitting its lower circuit, on Friday as well. The stock has wiped off 73.7% of its value from 24 January’s closing price of Rs 3,892.
Market capitalisation24 Jan: Rs 4,27,326 crore17 Feb: Rs 1,06,846 croreFall: 75%
Adani TransmissionThe power transmission company slipped 65% to close at Rs 968.55 on Thursday. Despite MSCI postponing the reduction of weightages of Adani Transmission to its next index review in May, the company tumbled to hit its lower circuit of 5% on Friday.
Market capitalisation24 Jan: Rs 3,07,447 crore17 Feb: Rs 1,02,642Fall: 66.6%
上一篇:India-focused portfolio outperforms benchmarks- GREED & fear
下一篇:Year ahead generative AI - Focus will now shift to inference
猜你喜欢
- Nifty above 17500 would aim for 17800, Bank Nifty charts suggest negative bias; Reliance, Infosys top bets
- Mutual funds steal a march over FPIs in anchor investment
- Nifty could rally till 17900-17925 if it holds above 17725; Axis Bank, HCL Tech, SAIL among top stocks to buy
- US Stocks- Wall Street falls as growth stocks, glum China data weigh
- US Stocks- Futures muted ahead of key inflation data
- US economic data soothes investor nerves
- India-Tanzania Military Collaboration- Strengthening Defence Capabilities through Mechanized Infantry Partnership
- India and China – A 2023 tale of two markets
- Unicommerce files draft papers with Sebi to raise funds via IPO