Adani Enterprises stock falls nearly 2%; All Gautam Adani group stocks plunge except Adani Transmission

Adani Enterprises stock falls nearly 2%; All Gautam Adani group stocks plunge except Adani Transmission

Gautam Adani-led Adani Enterprises share price tanked 1.85% to Rs 2,463 today. On Friday, Adani Enterprises signed a share purchase agreement to acquire a 100% stake in Stark Enterprises-owned Trainman – an IRCTC-authorised train ticket booking agent. AEL will acquire Trainman through its wholly-owned subsidiary Adani Digital Labs. Adani Enterprises stock has risen 26% in the last one month and has fallen nearly 40% in the last six months.

All the Adani group stocks were trading in red today except Adani Transmission, which jumped 1% after reports suggested that the company may achieve financial closure of Rs 1,700 crore, raised for its Mumbai transmission line project by July-end. The financing is being provided by a consortium of nine global banks through an international construction facility.

Despite today’s fall, Adani Group stocks have seen some stability in the last few weeks after sharp swings triggered by the Hindenburg Research report against the group in late January this year. The US-based-short seller had accused Gautam Adani and his brothers of fraud and stock manipulation.