In past seven trading days, the total market capitalisation (market-cap) of 10 Adani group companies has eroded by nearly Rs 10 trillion or 52 per cent to Rs 9.27 trillion in Friday's intra-day trades
Stocks to watch today: The National Stock Exchange (NSE) on Thursday shifted Adani Enterprises, Adani Ports, and Ambuja Cements to a category of stocks that require up to 100 per cent trading margins
Given the unprecedented situation and the current market volatility, Adani Enterprises has cancelled its Rs 20,000 crore follow-on-offer (FPO)
Shares of Adani Total Gas were locked in the lower circuit for the fourth straight day, down 10 per cent at Rs 1,901.65 on Wednesday.
Adani Ports and Special Economic Zone (Rs 658.45) and Ambuja Cements (Rs 419.25), too, were locked in their respective 10 per cent upper circuits
Stocks to watch today: Bank of India, Delta Corp, ICICI Prudential Life Insurance Company, Metro Brands, and Network18 Media are some of the companies slated to report their Q3FY23 results on Tuesday
Some of the biggest Adani group backers from the Gulf are likely to be among the largest buyers of the Adani Enterprises' FPO, which is expected to be launched later this month.
Adani Enterprises, the flagship company of Adani Group, was up 3% to Rs 4,057.35 on the BSE in intra-day deal,. It was trading close to its record high level of Rs 4,098.10 touched on November 16
Consolidated revenue in Q2 rose 36 per cent year-on-year (YoY) to Rs 7,044 crore due to improved tariff realisation and higher one-time income of Rs 771 crore
The expected timeline for completion of sale/disposal is end of January, 2023