Sudeep Shah from SBI Securities analyzes the smart rally in Nifty driven by banking, especially ICICI Bank and Axis Bank. The Bank Nifty is expected to rise to 48,700-48,900, supported by private sector banks. PSU banks may also join the rally soon. Shah also recommends two stocks Adani Enterprise and Axis Bank.
Shares of Adani Enterprises on Friday bounced back to levels last seen in January 2023, before a report by U.S. short-seller Hindenburg Research triggered a sell-off in billionaire Gautam Adani s.
The stock clawed back losses of more than $30 billion that came after US-based Hindenburg Research alleged wide-ranging corporate malfeasance and share-price manipulation at the ports-to-power conglomerate in January 2023. The group has repeatedly denied those allegations.
India Business News: Shares of Adani Enterprises Ltd, the flagship of the Adani group, have erased all the losses inflicted by a scathing short-seller report in early 2023.
Adani Enterprises recovers all stock mkt losses sparked by Hindenburg business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.