Adani Shares In Limelight Today: Adani Total, Adani Enterprises, Adani Ports

Shares of Adani group companies remained on investors' radar on Wednesday after a Bloomberg report highlighted that with an 85% decline in the stock, Adani Total's valuation matched US Short Seller Hindenburg's forecast. According to the report, the conglomerate's shares of city-gas distributor slumped 2.6% to Rs 575.7 on Monday, extending their losses from their closing price of Rs 3,891.75 on January 24 to 85%.

Today, the share price of Adani Total Gas was down 0.78% at Rs 568.85 per share at 10:14 am IST. Shares of Adani Enterprises and Adani Ports were up 0.90% and 0.95% at Rs 2329.95 and Rs 778.30 at 10:15 am IST.

If we look at the past six months and Year-to-date (ytd) performance of three Adani group firms - Adani Total, Adani Enterprises, and Adani Ports, we see that shares of other Adani companies have rebounded since the release of the controversial report, but Adani Total Gas shares have witnessed highest losses.

Adani Enterprises - The stock has gained 26.26% in the last six months, while in this year so far it has declined 39.33%.

Adani Total Gas: In the last six months the stock has declined 39%, while its YTD performance is down 83.94%.

Adani Ports & Special Economic Zone: The share price of Adani Ports has gained 15.92% in the last six months, while in this year so far it is down 5.36%.

Adani Ports and Special Economic Zone Limited (APSEZL) incorporated a wholly owned subsidiary company "Udanvat Leasing IFSC Limited" on October 23, 2023. The entity will have Authorized and Paid-up Share Capital of Rs. 2,50,00,000 divided into 25,00,000 equity shares of Rs 10 each.

Last week, the Supreme Court deferred the hearing in the Adani-Hindenburg case by another 10 days. The Supreme Court is expected to take up the matter on October 30, 2023.