Adani Shares : Just after the Hindenburg report came out, there was a sharp decline in the shares of Adani Group’s companies. All the shares of Adani group suffered a major decline For 9 days in a row. However, after a tremendous downfall in Stocks of Adani’s group, This week shares of several Adani group’s companies have been on rise.
After the Hindenburg report pertaining to Adani Group, Shares of Adani Enterprises, the flagship company of the Adani Group, crashed by nearly 60 percent, during this decline period, investor who have invested in Adani enterprises, thinking it as an opportunity, got a return of almost 110 percent in just four days.
110 percent return in just 4 days
Shares of Adani Enterprises became a multibagger in just four trading days. Investors earned more than double after the latest fall in Adani Enterprises. Stocks of Adani Enterprises had hit a 52-week low of Rs 1,017.10 on February 3. On February 8, this share closed at 2220. In just 4 days it jumped 110 percent. The market cap of Adani Enterprises has come down to Rs 2,40,973.44 crore.
Adani Enterprises is down by 51 percent
Despite this huge jump in share prices in just 4 days, the shares of Adani enterprises is still trading about 51 percent down from its 52- week high which is Rs 4,189.55. Due to this uncertain condition the fully subscribed FPO of Adani Enterprises had to be cancelled.
Also Read – Big blow to common man as RBI hikes repo rate by .25%
