The week was a sour one for the Adani Group stocks, as the ghost of the Hindenburg report came back to haunt the stocks’ recovery. Eight out of the 10 listed stocks of the Adani Group companies ended the week in the red.
| Company | Open | Close | Weekly Movement | Weekly % Change |
|---|---|---|---|---|
| Adani Ent | ₹3,209.00 | ₹3,108.80 | -₹100.20 | -3.12% |
| ACC | ₹2,375.60 | ₹2,337.90 | -₹37.70 | -1.59% |
| Ambuja Cement | ₹645.00 | ₹640.50 | -₹4.50 | -0.70% |
| Adani Total Gas | ₹885.00 | ₹848.15 | -₹36.85 | -4.16% |
| Adani Energy Solutions | ₹1,110.00 | ₹1,085.30 | -₹24.70 | -2.23% |
| Adani Green | ₹1,800.00 | ₹1,831.00 | ₹31.00 | 1.72% |
| Adani Ports | ₹1,541.50 | ₹1,493.45 | -₹48.05 | -3.12% |
| Adani Power | ₹697.05 | ₹697.40 | ₹0.35 | 0.05% |
| Adani Wilmar | ₹393.40 | ₹363.30 | -₹30.10 | -7.65% |
| NDTV | ₹211.89 | ₹202.33 | -₹9.56 | -4.51% |
Shares of Adani Group companies have been under pressure as U.S. short-seller Hindenburg Research released a report against the conglomerate on Sunday. The research firm alleged that Madhabi Buch, chairperson of the Securities and Exchange Board of India (SEBI), held stakes in offshore entities involved in the Adani money-siphoning scandal.
The most noteworthy performer was Adani Green, which saw a positive weekly movement of ₹31.00, marking a 1.72% increase from its last Friday’s opening price of ₹1,800.00. This green energy subsidiary of the Adani Group stood out amidst the other stocks which mostly witnessed a downward trend.
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On the other hand, Adani Enterprises and Adani Ports — the two Adani Group stocks in the Nifty 50 — both experienced a decline of around 3.12% over the week. The former, Adani Enterprises, saw its stock price fall from ₹3,209.00 to ₹3,108.80, while Adani Ports and Special Economic Zone experienced a drop from ₹1,541.50 to ₹1,493.45.
Adani Total Gas and Adani Energy Solutions also witnessed a slump in their share prices. Adani Total Gas saw a decrease of 4.16%, with its stock price falling from ₹885.00 to ₹848.15. The biggest drop was witnessed by Adani Wilmar shares which went down by around 7.65% during the week.
Despite the overall downward trend, Adani Power managed to stay almost stable with a marginal increase of 0.05%, moving from ₹697.05 to ₹697.40.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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