The bearish onslaught on several Adani group stocks continued for the third day, with trading in some halted as they hit circuit breakers, even as bulls managed to recoup some losses in Adani Enterprises, the group flagship running India's largest follow-on public offering.
Investors in Adani group stocks have now lost approximately 15.7 trillion ($70 billion) following the release of the Hindenburg report alleging accounting fraud and manipulation last week.
However, the rise in Adani Enterprises, an index constituent, contributed partly to the benchmark Nifty and Sensex indices closing in the green after a turbulent session.
The Nifty gyrated 304 points between the day's high and low before ending trading at 17,648.95, a 0.25% gain, while the Sensex swung 945 points before closing 0.29% higher at 59,500.41 amid the turbulence in the Adani stocks.
Investors in Adani Group stocks suffered a combined loss of *1.39 trillion in wealth on Monday, with trading in Adani Total Gas, Adani Green, Adani Power, Adani Wilmar, and NDTV halted after they hit their respective lower circuits, which range from 5-20%. Though Adani Enterprises closed up almost 5% at 12,892.85 apiece, it still traded at a 7% discount to the FPO floor price of 3,112.
Given the heightened volatility, the exchanges have halved the price band in Adani Transmission, Adani Green and Adani Total Gas to 10%.
Bu hikaye Mint Mumbai dergisinin January 31, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin January 31, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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