Adani Group shares end in the red on Tuesday; here is the full list
Adani Group shares, led by billionaire Gautam Adani, were all in the red on Tuesday with an intraday drop of up to 8% in the case of Adani Green and Adani Transmission amid a highly volatile trading session. .
Indian stocks ended lower for a third straight session on Tuesday, hit by steep losses in metals and energy stocks, as investors remained on guard over rising rates and related concerns to the economic slowdown.
The NSE Nifty 50 index closed down 0.38% at 16,240.05, while the S&P BSE Sensex fell 0.19% at 54,364.85. Nifty’s metals and energy sub-indices were among the main drags, plunging 5.2% and 4% respectively.
Additionally, the Indian Rupee was hovering near record lows at 77.37 against the US Dollar at the close.
In the case of Adani Group shares, Adani Power Ltd closed down 4.99% at Rs 267.60 each on BSE, Adani Total Gas Ltd -0.47% at Rs 2,351.35, Adani Green Energy Ltd -8.17% to Rs 2,486.80, Adani Transmission Ltd – 8.14% to Rs 2,475.10, Adani Ports and SEZ -2.65% to Rs 771.30 and Adani Enterprises Ltd fell by 3.98% to Rs 2,110.45.
Recently listed shares of the company, Adani Wilmar Ltd, hit a 5% lower home run for the fifth consecutive session to end at 583.25 rupees each on BSE as investors continued to take profits from a record level at the end of April.
Last month, the Adani Group became the third Indian conglomerate to cross $200 billion in market capitalization. Analysts had said share prices of Adani Group companies surged after they expanded and diversified into several businesses, which would have provided earnings visibility going forward.
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