This week, Adani Group stocks experienced a rollercoaster ride. Despite the volatility, Adani Enterprises Limited managed to limit the damage, while Adani Green Energy Limited and Adani Ports and Special Economic Zone Limited bore the brunt of the market’s onslaught.
The Adani Group was recently embroiled in a series of controversies. A few days ago, the Ministry of Corporate Affairs began probing the financial records of two of Adani Enterprises’ airports, Mumbai International Airport Ltd (MIAL) and Navi Mumbai International Airport Ltd (NMIAL).
|Stock||Open||Close||Weekly Movement||Weekly % Change|
|Adani Enterprises Limited||₹2,454.55||₹2,393.75||-₹60.80||-2.48%|
|Ambuja Cements Limited||₹439.00||₹430.85||-₹8.15||-1.86%|
|Adani Total Gas Limited||₹602.00||₹590.80||-₹11.20||-1.86%|
|Adani Energy Solutions Limited||₹786.00||₹764.35||-₹21.65||-2.75%|
|Adani Green Energy Limited||₹950.00||₹920.15||-₹29.85||-3.14%|
|Adani Ports and Special Economic Zone Limited||₹818.50||₹793.65||-₹24.85||-3.04%|
|Adani Power Limited||₹341.10||₹338.30||-₹2.80||-0.82%|
|Adani Wilmar Limited||₹344.40||₹335.85||-₹8.55||-2.48%|
|New Delhi Television Limited||₹213.20||₹208.65||-₹4.55||-2.13%|
Adani Enterprises started the week at ₹2,454.55 and closed on Friday at ₹2,393.75, a moderate drop of ₹60.80. The weekly percentage change was -2.48%, a relatively minor setback compared to its siblings in the group.
This setback was followed by a report that the Securities and Exchange Board of India (SEBI) faced difficulties gathering documents for an ongoing investigation into allegations against Adani Group by Hindenburg Research.
Adani Green Energy, a renewable energy firm, had a rather difficult week. Opening at ₹950.00, the stock closed at ₹920.15, shedding ₹29.85 over the week. This translates to a weekly percentage change of -3.14%, making it one of the hardest-hit stocks in the group this week.
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Adani Ports and Special Economic Zone didn’t fare much better either. The stock opened at ₹818.50 and closed at ₹793.65, marking a weekly drop of ₹24.85 or a percentage change of -3.04%.
Amid these controversies, there were also rumours of a potential deal between the Adani Group and Jaypee Group. The National Stock Exchange sought clarification from Jaypee Group after the latter’s stock surged 12% on rumours of a deal with Adani.
Despite not being the highlight, major Adani stock Ambuja Cements Limited also deserves mention. Opening at ₹439.00, it closed the week at ₹430.85, indicating a weekly movement of -₹8.15, or a weekly percentage change of -1.86%.
Other Adani Group stocks also faced a challenging week, with Adani Total Gas Limited, Adani Energy Solutions Limited, Adani Power Limited, and Adani Wilmar Limited all experiencing negative weekly movements.
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