Adani Group‘s flagship company Adani Enterprises has had a difficult run at the bourses since the start of the year. The stock along with the other nine Group stocks has been reeling after the Hindenburg report came out earlier this year. However, the company has generated tremendous returns for its investors over the years.
The Investment: If you had invested ₹10,000 in Adani Enterprises on May 26, 2014, — the day Prime Minister Narendra Modi was sworn into office — you would have bought approximately 20 shares. With the current market price at around ₹2,404, that investment would now be worth approximately ₹48,080. That’s a substantial return of over 380% in about nine years.
Background: The Group troubles may have moderated over the last couple of months but the Gautam Adani-led conglomerate is still facing difficulties. The Group has been under scrutiny following the Hindenburg report, which accused the conglomerate of financial impropriety.
The group last week responded to reports of a probe by U.S. regulators, stating that it isn’t aware of any subpoenas to its U.S. investors from the U.S. Securities and Exchange Commission. The company also saw significant investment from US-based investment firm GQG Partners, which pumped another $1 billion (8,200 crore) in Adani Group stocks.
Price Action: Adani Enterprises’ share price was up 0.74% to trade at ₹2,403.05 in the afternoon hours of trading on Tuesday.
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