Adani Group shares decline 16-52% from their 52-week highs

Adani Group shares decline 16-52% from their 52-week highs

Adani group shares have fallen as much as 52 per cent from their 52 week-highs in lower than three months. Among the many Adani group firms, Adani Energy has witnessed the sharpest decline — a 52 per cent fall from its 52-week excessive hit on June 9, 2021.

Amongst others, Adani Whole Fuel has declined 42.5 per cent, Adani Transmission 38.2 per cent, Adani Inexperienced Vitality 32.9 per cent, Adani Ports and SEZ 23.1 per cent, and Adani Enterprises by 16.1 per cent.

All of the group shares hit their 52-week highs in Could-June 2021. The sharp decline started after heavy promoting strain following a report that was later denied by the group.

The group, then again, stated it’s anticipating double-digit development in FY22 throughout its verticals, together with electrical energy era, ports, and renewable power.

Adani Group shares have had a stellar run over the previous few years.

Earlier this 12 months, the group grew to become the fourth enterprise conglomerate to cross $100 billion in market cap — after Tata Group, HDFC Group, and Mukesh Ambani-led Reliance Group.

At one level a 12 months in the past, Adani Group’s market cap was lower than Rs 2 trillion. Analysts say the current decline might be attributed to profit-taking by traders after the stellar run on the bourses.

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