Benchmark stock market indices traded flat after opening higher on Monday due to cautious sentiments among Dalal Street investors. The S&P BSE Sensex was up 51.82 points at 75,462.21 at 10:19 am, while the NSE Nifty50 fell 5.30 points to trade at 22,951.80. Most of the broader market indices were also trading in negative territory … Read more
After shares of Nifty stock Adani Ports fell 5% amid investor fears related to the impact on Israel’s Haifa Port due to the war, global brokerage firm CLSA said the dip presents an opportunity for investors. The Adani Group stock recovered on Tuesday and was trading 3% higher at Rs 814. “A 5% fall in … Read more
Shares of billionaire Gautam Adani-led Adani Ports and Special Economic Zone (APSEZ) fell nearly 4% to Rs 771 in Monday’s trade on BSE after the auditing firm Deloitte resigned as its auditor. Deloitte’s resignation comes after it asked Adani Ports to conduct an independent inquiry on related party transactions flagged by Hindenburg but the company … Read more
Mumbai: Deloitte Haskins & Sells LLP is set to resign as auditor for Adani Ports & SEZ in the next few days just a year after its reappointment amid differences with the company management over the auditor’s position on certain transactions, said multiple people aware of the development. According to one of the persons, a … Read more
Adani Ports and Special Economic Zone shares have a potential upside of 11-22%, according to estimates of top brokerages. The views come on the back of strong June quarter earnings posted by the Gujarat-based port operator. Estimating that double-digit growth would continue, Jefferies revised its stock price target upwards while recommending a buy. Domestic brokerages … Read more
The rout in Adani Group shares has room to run based on charts that show key stocks in Gautam Adani’s empire may still extend declines to the 85% downside flagged by Hindenburg Research.The combined market value of the 10 listed companies in the group has slumped by $146 billion, or about 60%, since the US-based … Read more
NEW DELHI: Adani bulls who were trying to catch the falling knife by buying dips have been left bleeding hard. In the last seven trading sessions since the release of the Hindenburg report, Adani stocks have cumulatively lost around Rs 9.10 lakh crore or nearly half of their market value. Most Adani stocks have been … Read more
Indian market closed in the red for the fourth day in a row on Friday tracking muted global cues. The S&P BSE Sensex fell nearly 1000 points while the Nifty50 managed to hold on to 17800 levels. Sectorally, selling was seen in utilities, power, oil & gas, and telecom stocks. Stocks that were in focus … Read more
Stating strong September quarter results, global brokerage Nomura maintained its buy rating on with a target price of Rs 1,025, implying an upside potential of 23% from the current market price of Rs 832. Adani Ports delivered strong topline sales growth at 33% year-on-year (YoY) at Rs 5,210 crore, which was 8%/13% higher than Nomura/consensus … Read more
Indian market closed in the green for the second consecutive day on Friday. The S&P BSE Sensex rose more than 100 points while the Nifty50 reclaimed 17800 levels. Sectorally, buying was seen in IT, banks, metal, auto, public sector, and healthcare stocks while some selling was visible in telecom, utilities, power, and realty space. Stocks … Read more