Adani Enterprises, Adani Enterprises shares, Adani Enterprises share price, AEL share price, Adani Power share price, Adani Green share price, Gautam Adani, Adani group, Adani group shares, Adani group stocks Gautam Adani, founder and Chairman of Adani group, has seen $17.70 billion jump in his fortunes since February 27, taking him closer to the list of top 20 billionaires globally. At present, Adani, 66, is valued at $55.40 billion and ranked 21st in the Bloomberg Billionaire list.
Thanks to a sharp recovery in Adani group shares namely Adani Enterprises, Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas, Adani's fortunes have seen a sharp rebound from a low of $37.7 billion on February 27. To be sure, shares of Adani group companies have rallied up to 31 per cent in the last five sessions, as the group took several steps to allay investor concerns.
Shares of Adani Enterprises have rallied 30.77 per cent in the last five sessions. Adani Total Gas has jumped 28.36 per cent in the last five trading sessions. Adani Green Energy is up 21.54 per cent, while Adani Power has gained 19.32 per cent during the same period. Adani Transmission has gained 21.84 per cent, in the last five sessions. Adani Wilmer is up 21 per cent, while Adani Ports & SEZ has advanced 17 per cent, during the same period. NDTV, ACC and Abuja Cements have also gained up to 22 per cent in the last five sessions.
The Adani shares have recovered recently after the group said it has repaid share-based financing of Rs 7,374 crore and would prepay all such remaining loans by the end of the month. In addition, SB Adani Family Trust recently sold Rs 15,446 crore worth of stakes in four Adani group firms to US-based GQG Partners. Besides, the conglomerate has lined up more road shows to shore up investor confidence after Hindenburg Research's scathing report on January 24, which sent the group market capitalization falling as much as $150 billion recently.
Adani alone was worth $150 billion in September last year. But since then, the group shares were showing a downward trend. A report by Hindenburg Research on January 24, however, triggered a selloff in Adani group scrips, as it alleged accounting frauds and stock manipulation at the group companies.
Recently, the Supreme Court ordered the market regulator Se bi to conduct an investigation to ascertain if the conglomerate violated market norms. The Adani group, which has been denying the allegations of accounting fraud and stock manipulation made by the US-based short seller Hindenburg Research, welcomed the move.
High debt, low value, core areas of economy, very high valuation, high volatility, rapid rise in stock price 15-20x in three years, crisis, Jain commitment etc. provides an opportunity of 16-20 pc rise in stock price.
Gautambhai will see Ache din again !
Adani Enterprises shares have rallied 30.77 per cent in the last five sessions. Adani Total Gas has jumped 28.36 per cent during the same period. Adani Green Energy is up 21.54 per cent.
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