Adani Enterprises’ share price jumps 4% ahead of results today; first earnings report after Hindenburg bomb
时间:2024-06-16 18:53:18 阅读(143)
The share price of Adani Group’s flagship firm Adani Enterprises gained up to 4% today to touch Rs 1,912.7 per equity share ahead of the earnings results announcement for the quarter ended March. Adani Enterprises’ shares have seen heightened volatility over the past few months as a result of the controversial Hindenburg Research report. The report – alleging that the Group and leader, Gautam Adani willingly manipulated stock prices, misled investors and misused shell corporations – was disseminated on 24 January.
On the day, the share price of Adani Enterprises settled at Rs 3,442 per equity share. However, as a result of the ensuing fallout, the share price touched a low of Rs 1,017.45, wiping off 70.4% of investors’ wealth in just six trading sessions. Having recovered some from the lows, Adani Enterprises shares are still about 45.3% lower than that prior to the impact of the report, and down about 55% from the 52 week high of Rs 4,190 per equity share.
Adani Enterprises performance in previous quarter Q3FY23Adani Enterprises’ Q3FY23 earnings saw a 42% increase in total income to Rs 26,951 crore. The company’s EBITDA also increased by 101% to Rs 1,968 crore. Additionally, the attributable PAT has risen to Rs 820 crore, as compared to a loss of Rs 12 crore in the same period of the previous year.
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