Shares of Adani Power Ltd fell after five sessions on Friday amid weakness in the benchmark indices. The Adani Group stock fell up to 3.73% to Rs 618.15 against the previous close of Rs 642.15.
Shares of Adani Power were settled at Rs 279.30, falling more than 2 per cent on Wednesday, commanding a total market capitalization of more than 1.07 lakh crore.
Share price of Adani Power fell for the second straight session today as investors booked profit from record high. Adani Power stock hit lower circuit of 5 per cent to Rs 390.65 against the previous close of Rs 411.20 on BSE. In the previous session, shares of Adani Power closed 5 per cent lower at Rs 411.20. On Monday (August 22), the stock hit all-time high of Rs 432.80 after the Adani Group firm said it would buy DB Power Limited for an enterprise value of Rs 7,017 crore.
Shares of Adani Power fell 10 per cent in two trading sessions as investors booked profit ahead of their inclusion in the Morgan Stanley Capital International (MSCI) index. The global index provider had announced changes to the index in mid-May. Adani Power along with other stocks was among the additions to the index. However, the announcement did not include changes to the weightings of individual stocks in its indexes.