Adani-Hindenburg dispute: Shares top losers and signs to watch next week

Last week’s performance of Adani Group shares

ACC Ltd recorded a market value of Rs. 36,181 crore on Friday’s closing when the stock closed at Rs. 1,920, up 4.28% from the previous close but the stock has declined over 5% in the last week. On Friday, the stock recorded a distribution volume average of 38,615,013 shares as compared to last week’s distribution volume average of 70,814,831 shares.

Adani Enterprises shares closed on the NSE on Friday 1,531, down 2.19% from the previous close, though the stock has fallen nearly 50% in the last week. Adani Enterprises registered an average delivery volume of 505,519,232 shares as against the delivery volume average of 345,573,935 shares for the week.

Shares of Adani Green Energy closed at a 52-week low on the NSE on Friday 935.90, down 10.00% from the previous close. The stock has declined nearly 30 per cent in the last week. On Friday, the scrip registered a delivery volume of 41,440,911 shares against the average delivery volume of 172,186,439 shares for the week.

Shares of Adani Ports and Special Economic Zone Limited closed on Friday on the NSE 488.40, up 5.61% from its previous close. The stock has fallen nearly 25% in the past week. On Friday, the scrip registered an average delivery volume of 1,933,543,200 shares as against the average delivery volume of 1,362,144,381 shares for the week.

Adani Power shares closed at lower circuit limit on NSE at 191.95 on Friday, down 5% from its previous close. The stock has fallen nearly 20% in the past 1 week since the Hindenburg report. The stock recorded a delivery volume average of 112,530,701 shares as compared to a delivery volume average of 301,325,440 shares for the week.

Adani Total Gas shares closed at lower circuit limit on NSE 1,622.35 on each Friday, down 5% from the previous close. The stock has fallen nearly 35% in the past week. The dividend recorded a distribution volume of 7,258,852 shares as compared to the distribution volume average of 39,353,603 shares for the week.

Adani Transmission shares closed at lower circuit limit on NSE at 1,396.05 on Friday, down 10% from its previous close. The stock has fallen by about 25 per cent in the last one week. The scrip registered an average delivery volume of 11,921,100 shares as against the average delivery volume of 81,262,466 shares for the week.

Adani Wilmar shares closed at the lower circuit limit of NSE at 399.95 on Friday, down 5% from its previous close. However, since the Hindenburg report last week, the stock has fallen nearly 20%. The scrip registered an average delivery volume of 77,008,557 shares as against the previous week’s average delivery volume of 182,609,453 shares.

Ambuja Cements shares closed on NSE at 372.15 on Friday, up 5.56% from its previous close. However, the stock has fallen by more than 12% in the last 1 week. The stock posted a delivery volume average of 1,539,322,656 shares compared to a delivery volume average of 1,919,252,671 shares for the week.

Key Indicators to Watch Next Week

The Bangladesh Power Development Board (BPDB), the power sector development organization in Bangladesh, has requested an amendment to the power purchase agreement (PPA) entered into with Adani Power Limited to import energy from the company’s thermal power plant in Jharkhand, India.

Market regulator SEBI said about this on 4 February Adani scandal That it has observed abnormal fluctuations in the prices of the shares of a company. SEBI said, “During the last one week, abnormal volatility in the prices of shares of a trading group has been observed.” “As part of its mandate, SEBI seeks to maintain the orderly and efficient functioning of the market and has put in place a set of well-defined, publicly available surveillance measures to address excessive volatility in specific stocks.”

As per the WSJ report, an offshore company named Opal Investment Pvt Ltd is one of the major shareholders of Adani Power.

It was clarified by Axis Bank and BoB that they are still comfortable with their exposure to the Adani Group.

The shares of Adani Group have been placed under the Additional Security Mechanism (ASM) Monitoring List of NSE. Adani ENT, Ambuja Cement and Adani Ports are among the stocks.

As of February 4, according to the Bloomberg Billionaires Index, Gautam Adani leads the list of businesses that have lost the most money so far this year, followed by Mukesh Ambani and Radhakishan Damani.

Adani has slipped to the 21st position in the rankings after posting a loss of $61.6 billion so far this year on a YTD basis. Adani, who was earlier among the top three richest men in the world, now has a net worth of $59 billion.