A year after Hindenburg report, how Adani Group firm stocks are performing?
How the Adani Group firm shares are performing on the first anniversary of the Hindenburg report controversy
Exactly a year ago, United States forensic financial research firm Hindenburg in its report had dropped a big bombshell, accusing Gautam Adani-led business conglomerate Adani Group. The firm had accused Adani Group of improper use of tax havens and flagged concerns about debt levels. Adani group in its response had termed the report baseless and called the allegations "unsubstantiated speculations".
On February 9 last year, the Supreme Court agreed to hear a plea seeking Centre to set up a panel monitored by a retired top court judge to probe the allegations levelled against Adani in the report.
However, on January 3 this year, the Supreme Court refused to form the SIT to probe Adani group and said that market regulator Sebi will continue to investigate.
When the Hindenburg report had exploded in 2023, Adani had lost $34 billion in just three days of the release of the report. Following the relief by apex court, the Adani Group firms shares rallied by 18 per cent despite the stock market falling flat.
Here's how the Adani Group firm shares are performing on the first anniversary of the Hindenburg report controversy.
Adani Enterprises: On Wednesday, the shares of Adani Enterprises were trading at ₹2887, 82 per cent down from the 2023 price on the same day. The shares had hit an all-time low of ₹1,017 on February 1 last year.
Adani Ports and SEZ: The shares of this Adani Group firm are trading in red at ₹1121 on Wednesday at 2 pm. The shares had hit an all-time low of ₹394.95 in wake of the report claims.
Adani Power: Adani Power shares were also trading in red at ₹518.00, down by 0.04 per cent since the opening. The company's shares had hit an all time low of ₹132 on February 28 last year.
Adani Green Energy: The shares of Adani Green Energy are 1.65 per cent down at ₹1653.55. The share price of the company stood at ₹1,963 on January last year, before crashing to ₹439 a month later.
Adani Total Gas: This is the only company whose shares have shown a positive gain. As of 2 pm, the shares are rallying at ₹1001.25. The firm's shares were trading at a whopping ₹3,944 when the report was released last year. The shares tanked to as low as ₹521.95 over the next 10 months.
Adani Wilmar: The FMCG company of the Adani Group witnessed its shares trade in red at ₹349.50 on Wednesday. The company which offers essential kitchen commodities including edible oil, wheat flour, rice and sugar, had witnessed its shares hit an all-time high of ₹573 on the day Hindenburg report was unveiled.
NDTV: Adani took control of nearly 65 per cent of television network NDTV in December 2022 after the founders transferred most of the shares to the business conglomerate. The shares of NDTV were down at ₹262.65 on Wednesday.
