The Adani group flagship s net profit crashed 51 percent to Rs 227.8 crore and revenue came in at Rs 22, 517 crore, falling 41 percent from the year-ago quarter
Shares of Adani Enterprises gained over 3% ahead of the announcement of the financial results for Q2FY24. The stock reached an intraday high of ₹2,297.95.
Hot stocks today: Indian equity benchmarks were trading lower today. The 30-share BSE Sensex fell 413 points to 65,994 and Nifty lost 117 pts to 19,676. Here s a look at stocks buzzing in action today.
Six months after a Hindenburg report led to a meltdown in Adani Group stocks, the conglomerate is trying to strike a balance between growth, capex and deleveraging its debt. Though the challenges still linger, sparked by the Hindenburg report alleging accounting fraud, stock manipulation, and routing of funds through foreign shell companies, all of which the firm has refuted, there is some breathing space. BT Magazine s The Making of Adani 2.0 decodes the recovery.