Adani Enterprises, led by Gautam Adani, experienced a decline of 1.85% in share price, reaching Rs 2,463. On Friday, the company signed a share purchase agreement to acquire Trainman, an IRCTC-authorized train ticket booking agent, through its wholly-owned subsidiary, Adani Digital Labs. Adani Enterprises’ stock has witnessed a 26% increase in the past month but has fallen approximately 40% over the past six months.
While all Adani Group stocks traded in the red today, Adani Transmission stood out with a 1% surge. Reports suggested that the company is on track to achieve financial closure of Rs 1,700 crore for its Mumbai transmission line project by the end of July. A consortium of nine global banks is providing the financing through an international construction facility.
Adani Power shares fell 0.4% to Rs 265.35, Adani Wilmar shares declined 0.3% to Rs 418.05, Adani Green Energy shares dropped 0.92% to Rs 967.6, Adani Total Gas shares fell 0.94% to Rs 664.85, Ambuja Cements shares were down 0.85% at Rs 457.10, NDTV shares saw a 0.98% decline to Rs 236.75, and ACC shares were down 0.61% at Rs 1843.50. In contrast, benchmark indices NSE Nifty 50 and BSE Sensex fell by 167.39 points or 0.26% to 63,217.19 and NSE Nifty 50 dropped by 46.80 points or 0.25% to 18,779.20. The banking index, Bank Nifty, witnessed a decline of 274.70 points or 0.63% to 43,663.45.
Despite today’s downturn, Adani Group stocks have shown some stability in recent weeks following the sharp swings triggered by the Hindenburg Research report against the group in January. The US-based short seller had accused Gautam Adani and his brothers of fraud and stock manipulation.
