Adani Group stocks are falling; 4 of them hits lower circuit. Why?

The stock fell for seven sessions in a row, falling 10% or Rs 345.55 to record an intraday low of Rs 3,110.20 on the BSE index. At Rs 3,157.15, it Ultimately Finished 8.51 percent down.

On October 7th, Adani Enterprises’ stock fell as much as 10%, following the downward trend of  Indian equity Benchmark

The stock fell for seven sessions in a row, falling 10%, or Rs 345.55, to record an intraday low of Rs 3,110.20 on the BSE index. At Rs 3,157.15, it Ultimately Finished 8.51 percent down.

During the trading session of the day, four of Adani’s equities, including the company’s flagship, Adani Enterprises, along with Adani Power, Adani Total Gas, and Adani Wilmar, hit their lower circuit before correcting.

Notably, because of their growth prospects and Big deals, Stocks of Adani have outperformed for the Majority of this year. Hence, profit-booking by investors may be the cause of the most recent decline in Adani stock.

Adani Enterprises, Adani Total Gas, Adani Power, Adani Green Energy, Adani Wilmar, Adani Port, and Adani Transmission are listed on Stock Exchanges.


Listed below is Adani’s shares performance

Adani Enterprises’ share price:

On Monday, Adani Enterprises struck a 10% lower circuit. For the seventh day in a row, the stock fell. The stock has fallen more than 15% overall in the last seven days. Shares of Adani Enterprises have fallen by more than 23% from their 52-week high of 3,883.70 per share, which Was Recorded on September 20.

Adani Enterprises ended at 3,157.15 on the Bombay Stock Exchange (BSE), down by 293.85 or 8.51%. The market value of the company is approximately 3,59,915.45 crore.

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The access-controlled six-lane (expandable to eight lane) Greenfield Ganga Expressway Project (Group-II, III, and IV) in Uttar Pradesh was completed financially by the firm’s wholly-owned subsidiaries last week, according to an Announcement made by the company last week.

Additionally, the company raised Rs. 100 crore by issuing market-linked debentures.

Adani Transmission share price

On the BSE, Adani’s power transmission company’s shares ultimately closed at Rs. 3,120.65 each, down 170.05 or 5.17%. The company’s market capitalization is about Rs. 3,48,106.22 crore.

The decline on Dalal Street for Adani Transmission would be its sixth in a row. The last time the stock traded above the Rs. 4,000 mark was on September 22.

On September 16, the price of this Adani stock reached a 52-week high of Rs. 4,238.55. The shares have fallen more than 26% since then.

Adani Power share price:

Adani Power Finished at a 5% lower price on the BSE at 355.15 per share. From the Friday closing last week, the shares were down by 18.65. Currently, the market value of the company is estimated to be Rs. 1,36,979.19 crore.

From its 52-week high of Rs. 432.80 per unit on August 22, Adani Power is down about 18 percent.

Adani Green Energy share price

Adani Green closed at 2,076.65 per share on the BSE, down by 182.90, or 8.09%. The market value of the company is roughly Rs 3,28,948.10 crore.

On October 3, the Company Disclosed the incorporation of three new companies by its wholly owned subsidiary, Adani Renewable Energy Holdings.

The main motive of the new subsidiaries is to Generate, Transform, Develop, Distribute, Sell, Transmit, and supply Any kind of power or Electrical energy using Wind energy, Solar energy, or Renewable energy.

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Since last Month, the stock has been under pressure. Between September 21 and 29, Adani Green shares fell for seven days in a row before recovering slightly to 2,259.55 per share on September 30. However, the beginning of October has been bearish. Nonetheless, the stock has dropped by at least 13.5% in the last 11 days.

The stock has dropped nearly 32% from its peak. On April 19, the stock reached a 52-week high of $3,048 apiece.

Adani Wilmar share price

Adani’s FMCG players fell to a 5% Lower circuit, Settling at Rs. 717.55 apiece. The company’s market capitalization is approximately Rs. 93,258.44 crore.

Adani Wilmar shares have now fallen by more than 18% from their peak. On April 28, the stock reached a 52-week high of Rs. 878.35.

Adani Total Gas share price

The providers of natural gas Finished at 3,104.65 apiece, down by 232.35 or 6.96%. The stock did approach a 10% lower low earlier in the day before correcting. The market value of the company is roughly Rs 3,41,452.54 crore.

Adani Total’s stock would be down for the third time in a row. The company’s shares have decreased by around 19% As Of This Point in relation to its 52-week high of 3,816.30 per share, which was seen on August 30.

Ventura Securities stated in its report on Adani Total Gas last week that They Anticipate That gas volumes will increase at a CAGR of 54.3% to 2,382 mmscm by FY25. And over the same time period, revenue/EBITDA/net profit are expected to grow at a CAGR of 38.7%/55.2%/65.2% to 8,105 cr/2,888 cr/2,296 cr, respectively. EBITDA and net profit per square metre are expected to Increase Marginally from 11.9/scm and 7.9/scm in FY22 to 12.1/scm and 9.6/scm in FY25, respectively. Despite aggressive capital expenditures, the balance sheet is expected To Remain Healthy due to Strong Cash Flow generation. As a result, return ratios (RoE and RoIC) are expected to improve by 1627bps to 37.4% and 1202bps to 32.5% by FY25, respectively.

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In terms of valuation, the Analysts Added that since they Began Covering Adani Total Gas Ltd (ATGL), the stock has risen from 1,685, 105% to 3,456 and as they move forward and Factor in FY25 estimates, they believe the stock has outpaced the fundamentals and recommended a HOLD on the stock with a target price of 3,475 representing a 0.5% upside.

Adani Ports share price.

Adani Ports’ shares closed at 785.45 on the BSE, down 35.60 percent or 4.34%. The company’s market capitalization is approximately Rs. 1,65,916.36 crore.

Adani Port’s shares have dropped by 161.5 percent in seven days from Monday. Adani Ports shares have fallen by approximately 20.5% since their 52-week high of Rs. 987.90 per share on September 20.

The company announced its operating performance for September 2022 on October 3. In September, the company increased cargo volumes by 13% year on year to 26.1 MMT. It said that the volume increase was despite an extended monsoon that negatively impacted coal demand and imports and the ban and higher duties on rice exports imposed at the beginning of the Month.

As of October 3, Adani Group was the most valuable conglomerate, with a total market valuation of over Rs. 17.74 lakh crore across its seven listed companies. Meanwhile, Mukesh Ambani’s Reliance Industries has a market capitalization of more than 16.06 lakh crore, followed by Tata Group‘s TCS, which has a valuation of more than 10.92 lakh crore.

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