Home Business Adani shares: Adani Enterprises shares rose 10% amid Hindenburg’s allegations

Adani shares: Adani Enterprises shares rose 10% amid Hindenburg’s allegations

by Trend News
2 minutes read
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Last week, after the allegations of the American financial research company Hindenburg, the shares of Adani Group saw a decline of 20-25%, but on the first day of the week, on January 30, the shares of Adani Group saw a rise. is getting. Mixed trend is being seen in 7 stocks of Adani Group.

The stock of Adani Enterprises has climbed nearly 10% to Rs 3,037, closing at Rs 2761.45 on Friday last week. This morning it opened at Rs 2,850.

Apart from this, there is also a rise in the stock of ACC, Adani Port, Ambuja Cement. However, the shares of Adani Total Gas registered a decline of 20 percent at around 11 am. Apart from this, there is a big decline in Green Energy, Power, Transmission and Wilmar.

Adani Green Energy saw a decline of 17 percent in the day at 11 am. At the same time, Adani Transmission is also down 20 percent.

Let us inform that the Indian stock market, which closed with a decline last week, opened on Monday in Lala Nishan.

Adani Group suffered losses due to Hindenburg’s allegations

After the release of the report of Hindenburg Research, there is a huge decline in the shares of Adani Group. On 24 January 2023, Hindenburg Research made new allegations of stock market manipulation and money laundering against Gautam Adani’s billion dollar group in a report. In the report, Adani Group was accused of market manipulation, accounting fraud and money laundering. Due to this report of Hindenburg Research, there was a loss of $ 48 billion in Adani’s stock till January 27, 2023.

At the same time, Adani Group has responded to the allegations of Hindenburg Research. In a 413-page reply from the Adani Group, Hindenburg’s allegations have been described as a “planned attack” against not only the company but India.

Adani Enterprises issues 20,000 crore FPO

Adani Enterprises, the flagship company of Adani Group, has brought its FPO i.e. Follow-on Public Offer of Rs 20,000 crore on Friday last week. But due to the Hindenburg report, this issue has been subscribed 1% so far. The issue price band is Rs 3,112 to Rs 3,276 per share.

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