Adani share price: Barring Adani Ports, all group stocks continue to bleed; a look at latest in Adani vs Hindenburg
Adani group stock price BSE, NSE today: Barring Adani Ports (ADANIPORTS), which secured mild gains, all Adani group stocks faced sustained selling pressure on Monday in more pain for investors amid a crisis at the embattled conglomerate. Here's a lowdown on latest news about Adani group companies.
Adani group stock price BSE, NSE today: Adani Enterprises (ADANIENT) plunged more than five per cent on Monday while three of the Adani group stocks, Adani Transmission (ADANITRANS), Adani Green Energy (ADANIGREEN) and Adani Total Gas (ATGL) were locked in their respective lower circuits. Among other stocks in the Adani basket on bourses, Adani Power (ADANIPOWER), Adani Wilmar (AWL) and NDTV, fell amost five per cent, in more pain for investors amid a crisis at the embattled conglomerate. The Adani group — which has interests in a slew of sectors including mining, power generation and transmission, natural gas, infrastructure and renewable energy — was sent into a crisis last month after US-based Hindenburg Research accused the Indian conglomerate of stock manipulation and improper use of offshore tax havens. The Adani group has denied any wrongdoing, dismissing the Hindenburg report as baseless. ALSO READ: Adani Group hits back at Hindenburg, calls allegations attack on India
Adani share price today (February 27)
A majority of stocks in the Adani group — including ADANIENT, ADANITRANS, ADANIGREEN, ATGL and ADANI POWER — fell almost five per cent in lare morning deals. Here's what the entire Adani pack looked like:
|Stock||Change (%)||CMP (rupees)|
|Adani Enterprises (ADANIENT)||-5.1||1247.7|
|Adani Transmission (ADANITRANS)||-5||676.4|
|Adani Green Energy (ADANIGREEN)||-5||462.5|
|Adani Total Gas (ATGL)||-5||716|
|Adani Power (ADANIPOWER)||-4.8||139.7|
|Adani Wilmar (AWL)||-4.6||345.7|
|Ambuja Cements (AMBUJACEM)||-2.8||335.7|
|Adani Ports (ADANIPORTS)||0.5||561.8|
Adani Enterprises (ADANIENT) shares weakened by as much as Rs 92.6 — or seven per cent — to Rs 1,222.2 apiece on BSE, falling for the seventh back-to-back session in a row.
Adani group latest news
Market regulator Sebi has asked credit rating agencies to share details of all ratings of local loans and securities of Adani Group firms.
On February 9, index provider MSCI cut the free-float status of four Adani stocks — Adani Enterprises, Adani Transmission, Adani Total Gas and ACC, a move set to reduce their combined weighting down from 0.4 per cent of the MSCI Emerging Markets index.
MSCI said "the characteristics of certain investors have sufficient uncertainty”, and that any resulting changes will be implemented at the end of market hours on February 28.
Earlier, S&P Dow Jones Indices removed Adani Enterprises from its Sustainability indices.
(With inputs from agencies)
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.