A year on from Hindenburg report, 7 Adani Group stocks still reeling from fallout

Adani Group Stocks: Exactly one year ago today, on January 24, 2023, American short-seller Hindenburg Research released a report accusing the Adani Group of manipulating share prices. And from January 25, 2023, all 10 Adani Group stocks listed on the stock market began to fall. Adani Group’s stock plunged as much as 85 percent due to the report. The group’s market cap has declined by Rs 12 lakh crore. The Adani Group then dismissed the allegations as false. After the Hindenburg report came out, the group had to withdraw the Rs 20,000 crore FPO of its flagship company Adani Enterprises.

Today marks one year since the release of the Hindenburg Report. Many stocks of Adani group companies have come out of this bearish phase. There are many stocks that have fallen from the lows they hit after the release of the Hindenburg report and are now trading much higher than pre-report prices.

After the Hindenburg report came out, the stock of Adani Ports and SEZ fell to Rs 395 on February 3, 2023. While the stock was trading at Rs 769 before the disclosure of the report. But Adani Ports share is now trading at Rs 1120. This means the stock is up 183% from the low. Adani Power’s stock has risen to Rs 132. which is now trading at Rs.520. The stock has gained 285% from the low, so the stock is trading above the Rs 274 level on January 24, 2023. After the Hindenburg report, the stock of Ambuja Cement had fallen to Rs 315. which is now trading at Rs.527. The stock is trading above the Rs 499 level on January 24, 2023.

But there are many Adani Group shares that have yet to recover from the shock. Before the Hindenburg report came out on January 24, Adani Total Gas had closed at Rs 3,891, before falling to Rs 522. Now the stock is trading at Rs 1002. This means the stock is still trading 75% below its January 24, 2023 level. The stock of Adani Energy, formerly known as Adani Transmission, closed at Rs 2762 on January 24, 2023, falling to Rs 631. The share is currently trading at Rs 1036. This means the stock is currently trading 62.50% below the level prior to the report.

Prior to the report, Adani Wilmar’s stock had fallen to Rs 286 from Rs 572. The stock is currently trading at Rs 350. That means the stock is trading 39 percent below pre-report levels. The group’s flagship company Adani Enterprises was trading at Rs 3,508 before the report, which fell to Rs 1,017 on February 3, 2023. Now the stock is trading at Rs 2903. This means that the stock is still trading 17.33% below the level prior to the arrival of the Hindenburg report.

The Adani Green Energy stock, which was trading at Rs 1,916 before the report, fell to Rs 439. Now the stock is trading at Rs 1641. Adani Green Energy is still trading 14.35% below its pre-report level. Stocks of ACC and NDTV are also trading below the levels following the release of the Hindenburg report.

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