Shares of Adani group companies witnessed mixed trends in early trade on Monday, with flagship Adani Enterprises surging 10 per cent even as most of the group firms fell, a day after it released a 413-page response to allegations of wrongdoing brought by a United States-based short seller, Hindenburg Research.
Four of the Adani Group companies were in positive territory, while at least five others were in the red amid a positive trend in the broader market.
Adani Total Gas, Adani Transmission, and Adani Green Energy all fell up to 17% in morning bourse trade.
Adani Enterprises rose 10% to Rs 3,038.35 per share on the BSE, while Adani Ports and Special Economic Zone rose 10% to Rs 658.45.
However, five other Adani Group firms were trading in negative territory.
Adani Power fell 5% to Rs 235.65, Adani Transmission fell 13% to Rs 1,746.70, and Adani Green Energy dropped 11% to Rs 1,320.
Adani Total Gas fell 17% to Rs 2,425 and Adani Wilmar dropped nearly 5% to Rs 491.45.
ACC Ltd. shares increased by 9% to Rs 2,055.10, while Ambuja Cements shares increased by 10% to Rs 419.25.
After Hindenburg Research made damaging allegations, the Adani group’s stocks fell up to 20% on Friday, losing more than Rs 4.17 lakh crore from the combined market valuation of listed firms.
Meanwhile, equity benchmarks Sensex and Nifty rose in early trade on Monday, reversing a two-day sharp fall in the market.
The 30-share BSE index rose 98.89 points to 59,429.79.
The broader NSE Nifty gained 46.35 points to 17,650.70.
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