Adani Enterprises share price

 

Adani Enterprises shares hit upper circuit after 413-page rebuttal of Hindenburg Research report

Stock market today 

Following the strong rebuttal of the 413-page Hindenburg Research report by Adani Group on Sunday, the share price of Adani Enterprises witnessed heavy buying in morning deals today and hit the upper circuit within minutes of the market opening. Shares of Adani Enterprises opened higher in the morning session and hit an intraday high of ₹3,037.55, hitting the upper circuit of 10 percent. On the BSE too, shares of Adani Enterprises saw a jump of 1.79 times in trading volume and hit the upper circuit after climbing as high as ₹3,038.35.

Among other Adani Group stocks, shares of Adani Ports also hit the upper circuit on BSE and NSE within minutes of the market opening today. Like shares of Adani Enterprises, the share price of Adani Ports opened on the upside today and hit the upper circuit after climbing more than 10 percent from Friday's close of ₹596.95 per share. Shares of ACC Ltd and Ambuja Cements also saw buying in the morning session in Monday's deals.

While other Adani group stocks remained flat on the day and continued their decline for the third straight day on Monday, Adani Power shares opened lower today and fell in the lower circuit of 5% for 3 days. Adani All Total Gas is closed. Share price saw heavy selling pressure in the morning zone and hit a lower circuit for 2 consecutive days Shares of Adani Green Energy also saw selling pressure in the opening bell today and hit a 52-week low of ₹1,216.05 on NSE.

Adani group's rebuttal of Hindenburg research report

Hindenburg Research report in fresh and strong rebuttal against company's Sarad position Adani group eats up Hindenburg report well designed to profit us at the cost of shareholders and public investors its report is neither correct nor objective it is a manipulation doing documents which are fraught with conflict of interest only with the intention of making a false market in securities by registering false profits which rightfully constitute securities under Indian law

88 in the Hindenburg scope question 88 It is correct to remember that 68 refers to those matters which are disclosed by the Adani group companies in their respective annual reports while offering the Memorandum Past Statement & Disclosure of the Stock Exchange at the time Sixteen of the 20 questions pertain to public shareholders and their sources of wealth while the remaining four are deterrent allegations. It goes without saying that Hindenburg posed these questions to divert the attention of his target audience while benefiting the smaller ones. Adani Group counter alleges costing investors while managing for

Alleging the Hindenburg Research report on Adani Group's debt position as an attempt to harm their most ambitious Adani Enterprises FPO, Adani Group said, "We take serious objection to Hindenburg, which at a time when investors, watchdogs and The Adani Group chose to mislead policymakers when Hindenburg Research used selective and distorted extracts of already disclosed information to raise questions in the minds of Indian and global investors to mislead them about the Indian growth story. has drawn up a document covering it. The faith of the Adani Group stakeholders undermines its commitment to 'Growth with Good'."