2 Min Read
Adani Group stocks are witnessing sharp fluctuations in Friday's trading session after initially extending losses from Thursday's fall.
Shares of Adani Ports, which fell as much as 6% at the start of trade have now turned positive. Adani Enterprises, which fell 7% in early trading, have also recovered all of their losses.
However, it must be noted that Adani Enterprises is in the F&O ban, which means no new positions can be created in the stock, however, existing positions can be dealt with.
A stock is placed in the F&O ban where the total open interest of contracts in the futures and options segment goes beyond 95% of the exchange-defined Market Wide Position Limit.
Besides Adani Ports, shares of cement players ACC, Ambuja, and Adani Total Gas have also turned positive. Ten of the 11 Adani Group companies have recovered from the lows to turn positive.
Adani Group stocks lost ₹2.3 lakh crore in market capitalisation on Thursday, November 21.
After the market closing, the Kenyan government cancelled $2.6 billion worth of potential contracts, which involved the management of the Nairobi Airport and also building high-voltage power transmission lines.
Earlier this morning, ratings agency S&P also cut its outlook on Adani Ports, Adani Electricity and a unit of Adani Green Energy post the US indictment of Gautam Adani and other executives of the group.
S&P wrote in its note that the negative outlook and the recent turn of events may restrict funding access for the group companies.
For the latest updates on this story click here.
Shares of Adani Ports, which fell as much as 6% at the start of trade have now turned positive. Adani Enterprises, which fell 7% in early trading, have also recovered all of their losses.
However, it must be noted that Adani Enterprises is in the F&O ban, which means no new positions can be created in the stock, however, existing positions can be dealt with.
A stock is placed in the F&O ban where the total open interest of contracts in the futures and options segment goes beyond 95% of the exchange-defined Market Wide Position Limit.
Besides Adani Ports, shares of cement players ACC, Ambuja, and Adani Total Gas have also turned positive. Ten of the 11 Adani Group companies have recovered from the lows to turn positive.
| Adani Group Stocks | Falls As Much As | Recovery From Lows |
| Adani Enterprises | -7% | 6% |
| Adani Ports | -6% | 4% |
| Adani Green Energy | -11% | 5% |
| Adani Energy Solutions | -9% | 3 |
| Adani Power | -7% | 5% |
Adani Group stocks lost ₹2.3 lakh crore in market capitalisation on Thursday, November 21.
After the market closing, the Kenyan government cancelled $2.6 billion worth of potential contracts, which involved the management of the Nairobi Airport and also building high-voltage power transmission lines.
Earlier this morning, ratings agency S&P also cut its outlook on Adani Ports, Adani Electricity and a unit of Adani Green Energy post the US indictment of Gautam Adani and other executives of the group.
S&P wrote in its note that the negative outlook and the recent turn of events may restrict funding access for the group companies.
For the latest updates on this story click here.
First Published: Nov 22, 2024 9:35 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Live TV
Loading...