Buying action in Adani Enterprises went up significantly post the block deal. The share volume on the NSE stood at over 1.91 crores around 9:30 am.
The stock has seen a remarkable recovery of 132% from its 52-week low of Rs 1,017 hit in February post the Hindenburg Research Report. It currently trades at a 77% discount from its 52-week high of Rs 4,190.
Adani Enterprises was also the most active stock on the Nifty50 index, overtaking many of its peers including the HDFC twins, Reliance Industries and ICICI Bank.
Gautam Adani on Tuesday made scathing remarks following the Hindenburg report, where the founder and Chairman of Adani Group blamed vested interests for the adverse consequences.
“The short-selling incident resulted in several adverse consequences that we had to confront. Even though we promptly issued a comprehensive rebuttal, various vested interests tried to opportunistically exploit the claims made by the short seller. These entities engaged and encouraged false narratives across various news and social media platforms,” Adani told shareholders in a letter.
While markets regulator Sebi is yet to finish the investigation into claims made by Hindenburg, a Supreme Court-appointed panel has found no evident pattern of manipulation in the steep stock price rise in Adani companies that can be attributed to “any single entity or group of connected entities”.All other Adani Group stocks, were trading in the green viz Adani Ports, Adani Wilmar, Adani Transmission, Adani Power, ACC, Ambuja Cements, and NDTV. Adani Ports and Special Economic Zone was also among the top gainer on the Nifty50.
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