Adani Enterprises stock: After the report of American short seller firm Hindenburg in the year 2023, the shares of Adani Group were badly battered. The group’s shares had fallen by more than 80 percent. However, now after about 16 months, the shares of Adani’s leading company Adani Enterprises Limited have left behind all the decline. Let us tell you that after the Hindenburg report, there was a loss of more than 30 billion dollars in this stock.
Share reached ₹3456
Shares of Adani Enterprises hit an intraday high of ₹3456 on Friday. This is also the 52-week high of the stock. On November 20, 2023, the share price had fallen to Rs 2,142.30. This is the stock’s 52-week low. At present the market cap is at the level of Rs 3.90 lakh crore. Let us tell you that after the Hindenburg report the share had touched a low of ₹ 900. Adani Enterprises had to cancel its ₹20000 crore follow-on public offer due to the Hindenburg Research report. After this, in March 2023, GQG Partners acquired stake in four companies of Adani Group. GQG currently holds about 3.5% stake in Adani Enterprises.
company meeting
Adani Enterprises has informed the Bombay Stock Exchange that it has scheduled a meeting of the Board of Directors to consider and approve the proposal to raise funds. This meeting is scheduled for 28 May 2024.
brokerage estimate
US-based brokerage Cantor Fitzgerald has started covering Adani Enterprises shares. Cantor Fitzgerald initiated coverage on Adani Enterprises in January this year with an “overweight” rating and a target price of ₹4368.
Meanwhile, there is news that entry of Adani Enterprises on BSE Sensex index is possible. This will be the first time for any company owned by the Gautam Adani-led group to be included in the 30-share BSE Sensex index. This share of Adani can replace IT company Wipro.
