Adani Power’s share price went up over 4% on Tuesday to hit a new 52-week of ₹246.40. The Adani Group company has recovered strongly from the rout that ensued after the Hindenburg report.
The Investment: If you invest ₹10,000 in Adani Power today, you would be able to purchase around 41 shares of the company. Now, if the stock returns to its 52-week high of ₹432.50 it hit in August 2022, the value of those 41 shares would surge up to ₹17,732.50. An over 70% return on your initial investment.
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The Risk: The shares of the company have been extremely volatile since the Hindenburg report came out. The stock slumped over 50% in the aftermath of the report to hit a new 52-week low of ₹132.40. While it has recovered quite a bit since there is no certainty that the stock will go on to hit its all-time high again.
Price Action: Adani Power’s share price was up 1.22% to trade at ₹240.90 in the late hours of trading on Tuesday.
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