Market Buzz: How Are Adani Group Shares Reacting To The Resurfacing Hindenburg Issue?

Market Buzz: How Are Adani Group Shares Reacting To The Resurfacing Hindenburg Issue?

While some stocks, like Adani Total Gas Limited and ACC Limited, are trading in green but others, such as Adani Enterprises Limited and Ambuja Cements Limited, experiencing a decline.

G R MukeshUpdated: Tuesday, July 02, 2024, 02:31 PM IST
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Market Buzz: How Are Adani Group Shares Reacting To The Resurfacing Hindenburg Issue? | Image: Wikipedia (Representative)

The shares of Adani Group companies on Tuesday (July 2) are trading on a mix note after the Hindenburg Issue resurfaced. Earlier today, Hindenburg Research, a US short seller that previously accused the Adani Group of stock market manipulation and accounting fraud, announced that it received a show-cause notice from India's capital market regulator SEBI.

While some stocks, like Adani Total Gas Limited and ACC Limited, are trading in green but others, such as Adani Enterprises Limited and Ambuja Cements Limited, experiencing a decline.

Shares performance of various Adani Group companies

On the Bombay Stock Exchange (BSE), the shares performance of various Adani Group companies' shares varied.

At 2:12 pm IST, Adani Enterprises Limited was trading at Rs 3,153.35, down by 30.35 points or 0.95 per cent.

The shares of Adani Green Energy Limited also saw a slight decline to Rs 1,775.75, down by 1.10 points or 0.062 per cent at the same time. Adani Ports and Special Economic Zone Limited (APSEZ) traded at Rs 1,472.60, down by 1.90 points or 0.13 per cent. Adani Power Limited also saw a decline, trading at Rs 714.35, down by 3.10 points or 0.43 per cent.

However, on the other hand, some stocks of the Adani group saw gains. Adani Total Gas Limited was trading at Rs 914.40, up by 26.35 points or 2.97 per cent at 2:13 pm IST. Adani Wilmar Limited stocks also saw an increase, trading at Rs 336.90, up by 4.30 points or 1.29 per cent at 2:14 pm IST.

Furthermore, Ambuja Cements Limited saw a decline, trading at Rs 686.40, down by 8.60 points or 1.24 per cent at 2:14 pm IST, while ACC Limited saw an increase, trading at Rs 2,781.80, up by 32.20 points or 1.17 per cent at the same time.

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