Most Adani group companies shares rise, Adani Enterprises jumps 14 percent
By Lokmat English Desk | Published: February 7, 2023 01:38 PM2023-02-07T13:38:34+5:302023-02-07T13:38:34+5:30
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Shares of the Adani Group plummeted after a report by US-based Hindenburg Research leveled allegations of fraud in the Adani group. Shares of Adani Group tumbled 66 percent following the report. The Adani case is being discussed all over the world including India.
Hindenburg had published a report against the Adani Group on January 24 and its shares started falling from the same day.
On Monday, one after another encouraging news for the Adani Group, almost all shares of the Adani Group rose on Tuesday. Two of these stocks were fitted with upper circuits. Adani Group shares are in the green and investors are relieved.
NSE on Monday revised the circuit limit of Adani Green Energy and Adani Transmission to 5 percent. Besides, Adani Group announced early redemption of pledged shares. The company is ready to pay Rs 9185 crore for this.
Reports of Adani Transmission came in. The company's performance was excellent. The company's profit has increased by as much as 73 percent. Shares of Adani Transmission traded 5 percent higher on Tuesday following the report. After that, 5 percent in Adani Wilmar also on Tuesday morning.
The fall in Adani Green has stopped. Adani Port and Ambuja Cement are bullish. Apart from this, Adani Enterprises shares rose by more than 4 percent at 9:30 am.
Adani Power currently has only 5 percent lower circuit installed. All other stocks are also seeing a boom. So investors have got some relief.
After the Hindenburg report, Gautam Adani's wealth has drastically reduced. Gautam Adani, who was ranked fourth in the Bloomberg Billionaires Index last month, has now slipped to 21st.
In the real time rating of Forbes, Adani is ranked 17th in the list of the richest people in the world. His total wealth has come to 60.5 billion dollars.
