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Gautam Adani Last night shocking all the investors withdrew the Adani Enterprises Follow on Public Offer (Adani Enterprises FPO). The decision to withdraw the Rs 20,000-crore FPO, despite being fully subscribed, took everyone by surprise. But its effect is not visible in the market at the moment. Except for one or two shares of Adani Group, almost all the shares are showing a strong decline even today.
The stock market includes Adani Group’s Adani Enterprises, Adani Green Energy, Adani Ports and SEZ, Adani Transmission, Adani Total Gas, Adani Power, Adani Wilmar. Talking about today’s trade, Adani Enterprises share is trading at Rs 2035.20 with a decline of -4.39% after the FPO withdrawal.
condition of adani group shares
- ADANI ENTERPRISES LTD – 2020.00 -108.70 (-5.11%)
- ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. -469.55 -22.60%
- ADANI POWER LTD. -202.15 -10.60 (-4.98%)
- Adani Transmission Ltd -1557.25 -173.00
- Adani Green Energy LtD -1038.05 -115.30 (-10.00%)
- Adani Total Gas Ltd – 1711.50 -190.15 (-10.00%)
- Adani Wilmar Ltd – 421.45 -22.15 (-4.99%)
Adani’s foundation shaken by Hindenburg’s allegations
The Hindenburg report on adani has created a stir by accusing the $218 billion Adani Group of stock manipulation and accounting fraud. Within three days after the report came out, shares of the Adani group crashed badly on the Bombay Stock Exchange and the National Stock Exchange. About 5.5 lakh crore rupees were lost in Adani’s market cap. Shares fell by up to 30 percent. The share of the flagship company Adani Enterprises (Adani Enterprises Share) was at Rs 3400 on January 25 and it came down to around Rs 2000 on February 1.
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