Adani Ent share price gains 146%, other Adani stocks gain 6-130% each since Jan low
Also Read: Adani Power to Adani Enterprises: Adani Group shares zoom after Gautam Adani's speech at AGM 2023 Since hitting their lows in February and March after the Hindenburg report was released, shares of Adani group companies have seen decent recovery, but are still way below the pre-Hindenburg saga levels. Adani Enterprises shares have recovered around 146%, while Adani Ports & SEZ shares have rallied 90% from their respective 52-week lows.
Adani Green Energy has surged 132%, Adani Power gained 92%, Adani Transmission rose 28%, while Adani Wilmar gained 26% from their lows seen after the Hindenburg report. Meanwhile, Adani Total Gas shares have only risen by 6.4% from lows and are trading around ₹650 level as compared to its 52-week high of ₹3,998.35 hit on January 23, 2023.
The rise in Adani group stocks comes particularly on the back of the investment it received from GQG Partners, and an interim report from the Supreme Court-appointed committee that said it found no evidence of stock-price manipulation. Also Read: Adani Group AGM 2023: Gautam Adani takes a dig at Hindenburg research report. Read full text here Before the US short seller report was released, Gautam Adani was listed by Forbes as Asia's richest man.
However, with the massive beating in the group stocks in the wake of the report, his ranking tumbled down, with his fortune at one point dropping by more than $100 billion. Hitting back at the short-seller, Adani on Tuesday said the report was a deliberate and malicious attempt aimed at damaging the group’s reputation and generating profits through a short-term drive-down of our stock prices.
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