Adani Group stocks: A look at how they fared in past one year

financialexpress.com:

The Adani Group stocks have had a rollercoaster ride since the start of the year. As the year comes to a close. Here is a look at how the stocks have performed thus far in 2023. In a late January report, US-based short seller Hindenburg Research accused the Adani Group of accounting fraud, stock price manipulation, and improper use of tax havens. This led to a significant stock market downturn for the Adani group shares, wiping out close to $150 billion in market value at its lowest point.

The impact was widespread across all Adani Group company stocks, following responses from PIL petitioners involved in the Adani-Hindenburg row to the capital markets regulator Sebi’s status report on the Adani probe. In an affidavit, the petitioners leveled charges of inaction, conflict of interest, and dilution of regulations against Sebi. This has witnessed a downfall of almost 50% in the last one year.

Adani Power stands out among Adani Group stocks, marking an 18.90% surge in the past year. This growth is attributed to strategic acquisitions, including Ardour Investment Holding’s purchase of a 1.93% stake and Emerging Market Investment DMCC acquiring 0.13% of Adani Power shares. Despite a recent one-month growth of 22.51%, the stock exhibits robust long-term returns, with a remarkable 5-year return of 599.10%, showcasing its potential in the power generation sector.

Adani Enterprises faced challenges with negative returns of 6.41% one month and a notable drop of 46.44% over the past year. However, its exceptional long-term performance, with a 3-year return of 683.83% and a 5-year return of 1209.30%, underscores growth potential within its sector.

Adani Ports & SEZ, in recent one-month returns, the company has given positive returns