Shares of Adani Enterprises fell over 3 per cent in early trade on Bombay Stock Exchange (BSE) Global investment bank Citi said that it downgraded Adani Enterprises to 'neutral' from 'buy'.
It said that a 'majority' of value unlocking on demerger has already been priced in.
The shares of company fell 3.50 per cent to trade at Rs 663.75 a piece on the BSE.
In a similar fashion, shares of the company fell 3.29 per cent to Rs 662.70 a piece on National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 28,996.75, up 3.39 points or 0.01 per cent at 11.15 hours.