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Adani Enterprises Ltd Slips 15%, S&P BSE Industrials index Shed 3.69%


Adani Enterprises Ltd has added 11.57% over last one month compared to 7.52% gain in S&P BSE Industrials index and 6.69% rise in the SENSEX
Adani Enterprises Ltd fell 15% today to trade at Rs 1361.25. The S&P BSE Industrials index is down 3.69% to quote at 4620.19. The index is up 7.52 % over last one month. Among the other constituents of the index, Bharat Heavy Electricals Ltd decreased 14.96% and Adani Ports & Special Economic Zone Ltd lost 14.53% on the day. The S&P BSE Industrials index went up 105.56 % over last one year compared to the 53.91% surge in benchmark SENSEX.
Adani Enterprises Ltd has added 11.57% over last one month compared to 7.52% gain in S&P BSE Industrials index and 6.69% rise in the SENSEX. On the BSE, 1.07 lakh shares were traded in the counter so far compared with average daily volumes of 5.71 lakh shares in the past one month. The stock hit a record high of Rs 1718.45 on 07 Jun 2021. The stock hit a 52-week low of Rs 141.1 on 12 Jun 2020. ....

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A $43-bn jump in Gautam Adani's fortune is fraught with many risks


A rally in the stocks of companies controlled by Indian billionaire Gautam Adani has added almost $43 billion to his wealth this year, catapulting him to the spot of the second-richest person in Asia. Some analysts say the gains are fraught with risk.
Adani’s net worth of $76.7 billion got a boost from a 330% jump in Adani Total Gas Ltd., a 235% rise in his conglomerate’s flagship Adani Enterprises Ltd. and a 263% increase in Adani Transmission Ltd. this year. Adani group stocks, especially these three, “look extended,” Bloomberg Intelligence analysts Gaurav Patankar and Nitin Chanduka wrote in a June 10 note after analysing technical indicators. ....

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