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How Adani Group Stocks Reacted After SC Panel Says ‘No Artifical Trading’ Found?

How Adani Group Stocks Reacted After SC Panel Says ‘No Artifical Trading’ Found?

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Business

oi-Renu Baliyan

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An expert committee appointed by the Supreme Court to investigate allegations around Adani Group said it was not possible to conclude if there has been regulatory failure on stock price manipulation allegations, according to a PTI report.

The panel made the same observation in relation to disclosures of related party transactions. The Supreme Court had appointed the committee after US short-seller Hindenburg Research in a report alleged fraud, stock market manipulation and improper use of offshore entities by Adani Group, added the PTI report.

How Adani Group Stocks Reacted After SC Panel Says ‘No Artifical Trading’ Found?

Soon after the report came, Adani group stocks witnessed a sharp jump of up to 5% intraday Some of the stocks find them locked in upper circuit. Check details below:

1. Adani Enterprises Ltd: Shares of Adani Enterprises soared 3.54% to close at 1954.90 apiece. The company has a market capitalisation of Rs 2,22,858.82 crore.

2. Adani Ports And Special Economic Zone Ltd: The shares of Adani Ports surged 3.93% and closed at Rs 690.00 apiece on Friday. The company has a market capitalisation of Rs 1,49,049.59 crore.

3. Adani Transmission Ltd: The shares of Adani Transmission locked in upper circuit on Friday with the rally of 5.00%. Last trading price of Adani Transmission is Rs 788.90 apiece. The company’s market capitalisation is Rs 88,001.22 crore.

4. Adani Green Energy Ltd: The shares of Adani Green touched upper circuit on Friday after the report of SC panel found no artificial trading in Adani stocks. The stock rallied 5.00% to end at Rs 904.55 apiece. The company’s market capitalisation is Rs 1,43,283.66 crore.

5. Adani Total Gas Ltd: Shares of Adani Total Gas rallied 3.05% intraday to close at 687.00 apiece. The shares of Adani Total Gas touched both lower and upper circuit on Friday. The company’s market capitalisation is Rs 75,556.95 crore.

6. Adani Wilmar Ltd: The shares of Adani Wilmar surged 6.87% intraday and witnessed a spurt in volume by more than 6.90 times. The company’s market capitalisation is Rs 52,507.02 crore.

7. Adani Power Ltd: Shares of Adani Power jumped 5% intraday to end at 236.35 apiece. The stock touched upper circuit intraday on BSE. The company has a market capitalisation of Rs 91,158.75 crore.

Story first published: Friday, May 19, 2023, 15:52 [IST]

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