Adani Group shares jumped as much as 6% on block deal news

28 Jun 2023 , 02:02 PM

Adani Enterprises shares rose more than 3% on the NSE in early trade on Wednesday, owing to block deals on the counter. According to reports, 1.6% of Adani Enterprises’ equity, or 1.8 crore shares, changed hands. Meanwhile, Adani Green Energy shares fell more than 6% as 2.2% equity shares traded in a block.

Following the block deal, buying activity in Adani Enterprises increased significantly. Around 9:30 a.m., the NSE’s share volume was over 1.91 crores.

The stock has rebounded 132% from its 52-week low of Rs 1,017 per piece in February, following the publication of the Hindenburg Research Report. It is currently trading at a discount of 77% from its 52-week high of Rs 4,190.

Adani Enterprises was also the most actively traded stock on the Nifty50 index, outperforming many of its peers such as the HDFC twins, Reliance Industries, and ICICI Bank.

At around 1.54 PM, Adani Enterprises was trading 4.07% higher at Rs 2,389 apiece. Adani Green Energy stock was trading 2.63% lower at Rs 943, against the previous close of Rs 968.45 on NSE. 

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