AEL pips RIL to become top traded stock on NSE

Gautam Adani might have ceded his position as the richest Indian to Mukesh Ambani, but, in an unflattering comparison, his group flagship Adani Enterprises (AEL) has trumped Ambani's Reliance Industries Ltd to become the most actively traded scrip on NSE so far this month.

- Ram Sahgal

AEL has clocked a trading volume of ₹46,832.5 crore in the month through 27 February, accounting for a whopping 5% of the overall exchange turnover of ₹9.36 trillion over the same period. Against this, Reliance's turnover stands at ₹13,500.54 crore or just 1.44% of overall exchange turnover.

Day traders, who take intraday bets, flocked to the AEL counter in droves this month after US short-seller Hindenburg Research in late January alleged corporate malfeasance against the ports of a renewable energy conglomerate. Despite the strong denial by Adani Group, the AEL counter has been abuzz, becoming the third most actively traded stock by turnover at ₹25,543 crore in January, up from the eighth most traded (₹16,050 crore) in December.

Typically, Reliance is the most actively traded stock on India's largest stock bourse NSE, remaining No. 1 for eight out of 12 months through February 2023. It was the toptraded stock for four straight months through January 2023. RIL, which has a 10.4% weighting on the Nifty 50, is an index mover, making it an attractive play for investors and traders.