Shares of Adani Group have had a tumultuous year so far after US-based Hindenburg Research accused the ports-to-energy conglomerate of serious financial wrongdoing.
However, things have changed since then, and the group’s stocks have made somewhat of a comeback in the stock market after a Supreme Court-appointed expert committee told the apex court last week that it had founded no regulatory lapses on the part of the Securities and Exchange Board of India (SEBI).
That said, all seven Adani Group stocks are still trading lower than they were six months ago.
Which Adani Stocks Have Recovered The Most?
Of the seven Adani Group stocks, Adani Power, Adani Wilmar, Adani Ports and Adani Enterprises have seen the strongest recoveries. While Adani Power has been the strongest performer, followed closely by Adani Wilmar, Adani Ports has clawed back most of the losses it suffered after the Hindenburg report.
Adani Green and Adani Transmission have seen small improvements in their share prices since the impact of the Hindenburg report. However, Adani Total Gas is still trading near historic lows since the wipeout.
Notably, the Hindenburg report had pointed out that Adani Green, Adani Transmission and Adani Total Gas had been trading at extremely high price-to-earnings multiples and had among the worst current ratios, which is a measure of a company’s ability to repay short-term obligations.
How Are Adani Group’s Recent Acquisitions Doing?
The conglomerate made three noteworthy acquisitions in 2022: cement makers ACC and Ambuja Cements as well as media company NDTV. While shares of the infrastructure firms have stabilised following the Hindenburg report, the news network’s shares are at their lowest in 10 months.
What’s Next For Adani Group Stocks?
While the Supreme Court-appointed panel’s findings gave the conglomerate somewhat of a breather, the company is still being probed by SEBI, which has been given time until August 14 to wrap up its investigations.
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Meanwhile, the Gautam Adani-led group has been keen on paying off its debts and raising additional capital. Adani Enterprises is set to raise ₹12,500 crore while Adani Transmission plans to raise ₹8,500 crore through a qualified institutional placement.
It has also been reported that the group is looking to monetise some of its “non-core” real estate assets to fund newer projects.
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