Market Reaction: Adani Group Faces Sharp Stock Decline Post-Hindenburg Report

Market Reaction: Adani Group Faces Sharp Stock Decline Post-Hindenburg Report

The Hindenburg's Latest revelation has particularly impacted all the major Adani company shares. On August 12, the shares opened and closed with a noticeable drop.

G R MukeshUpdated: Monday, August 12, 2024, 04:55 PM IST
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Adani Group Shares Plummet After Hindenburg's Latest Report Sparks Market Reaction | Image: Wikipedia (Representative)

Amid the recent Hindenburg revelations, that alleged the Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and her husband, Dhaval Buch investments in offshore funds concerning the Adani-SEBI saga, the Indian headline indices Sensex and Nifty reacted in a hot and cold mixed-way during the intraday on Monday (August 12) following the report which was released on Saturday (August 11).

This has particularly impacted all the major Adani company shares. On August 12, the shares opened and closed with a noticeable drop.

Adani Enterprises shares

Adani Enterprises shares performance

Adani Enterprises shares performance |

The company's flagship Adani enterprises shares closed at Rs 3,140.90, down by 46.65 points or 1.46 per cent.

APSEZ shares

APSEZ shares performance

APSEZ shares performance |

The Adani Ports and Special Economic Zone (APSEZ) shares lost 2.33 per cent or 35.80 points , slumping to Rs 1,498.00 apiece .

Adani Power Ltd shares

Adani Power Ltd shares performance

Adani Power Ltd shares performance |

The share prices of Adani power dipped to Rs 687.00, declining by 8.40 points or 1.21 per cent.

Adani Total Gas Ltd shares

Adani Total Gas Ltd shares performance

Adani Total Gas Ltd shares performance |

The shares of the company dropped by 3.95 per cent or 34.35 points, decreasing to Rs 835.50 per share.

Adani Wilmar Ltd shares

Adani Wilmar share performance

Adani Wilmar share performance |

Similarly, the shares of Adani Wilmar on Monday closed at Rs 369.35, down by 4.10 per cent or 15.80 points, ending the day at Rs 369.35 apiece.

In addition, ACC a subsidiary of Ambuja Cements and a part of the Adani Group also ended on a red note at Rs 2,329.00, drop by over 0.96 per cent.

However, the shares of Adani Green Energy Ltd and Ambuja Cements Ltd ended the day on a slight positive note,. Adani green energy ended the day at Rs 1,785.00 (+0.23 per cent) and Ambuja Cement at Rs 636.15 (+0.66).

Market Closing - Monday

On Monday, August 12, the BSE Sensex decreased by 25.46 points or 0.03 per cent, ending the day at 79,680.45. Similarly, the NSE Nifty dropped by 20.50 points or 0.08 per cent to close at 24,347.00.

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