Adani Group Shares: On Friday, August 4, there was a mixed trend in Adani Group’s shares. Out of the 10 companies listed in the market, the shares of 5 companies closed in the green, while the shares of the other 5 companies closed in the red, indicating a decline.
The highest decline was seen in Adani Green Energy’s shares, which closed down 2.28% at INR 1,012.50 on the BSE. Following closely was Adani Total Gas, whose shares closed 1.69% lower at INR 644.50.
Among the other group companies, Ambuja Cements’ shares saw a decline of 0.77% and closed at INR 470.55. Adani Energy Solutions’ shares closed at INR 794.95, down 0.16%, and NDTV’s shares closed at INR 226.40, down 0.13%.
On the other hand, 5 of Adani Group’s shares closed with gains on Friday. The highest gain was seen in Adani Power’s shares, which closed up 0.82% at INR 277.15 on the BSE. ACC’s shares also saw an increase of 0.72% and closed at INR 2,041.55.
The main company of the group, Adani Enterprises, saw its shares rise 0.10% and closed at INR 2,534.40. Adani Wilmer’s shares closed with a modest gain of 0.08% at INR 397.50, while Adani Ports’ shares closed up 0.02% at INR 774.00.
Hindenburg’s Allegations Against Adani Group
On January 24 this year, the American financial firm Hindenburg Research released a report accusing Adani Group’s companies of stock manipulation and accounting fraud. The group denied these allegations, but the share prices couldn’t recover from the impact of the report. Following the allegations, the share prices of the group’s companies plummeted by up to 83%. As of now, none of Adani Group’s company shares have fully recovered from the decline.
