As the flagship firm in the conglomerate hit by Hindenburg's report, Adani Enterprises lost the most in market cap, and also launched the Rs 20,000 that it was supposed to raise from a cancelled follow-on offer. It was also one of three Adani stocks which had been put under additional surveillance by NSE after the freefall, hurting its credibility further. After a month and an infusion of Rs 15,000 crore into the group by a US-based fund, the stock market index has removed Adani Enterprise from the watchlist.
Last to exit surveillance
The surveillance measure deployed by stock markets is meant to protect investors from risky bets when shares are hit by volatility. Adani Enterprises had been moved to the list along with Ambuja Cement and the group's ports division. The other two had been removed from additional monitoring in last month itself.
Turnaround for Adani
Adani Group has been paring its losses for five straight sessions, as Gautam Adani has entered the top 30 on the rich list once again. The rebound has come after an investment by GQG partners, which has picked up the highest stake in Adani Ports.
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