Four of Adani’s stocks fall today, including the parent company, Adani Enterprises, as well as its subsidiary businesses, Adani Total Gas, Adani Power, and Adani Wilmar, have struck its lower circuit.
- Four of Adani’s stocks, including the parent company, Adani Enterprises, as well as its subsidiary businesses, Adani Total Gas, Adani Power, and Adani Wilmar, have struck its lower circuit.
- Therefore, the most recent drop in Adani share price could be attributed to investors cashing in their profits.
On Monday, following a general trend of pessimistic market sentiment, shares of Adani Group fell by between 4 and 10%. During the course of the day’s trading session, four of Adani’s equities, including the company’s main company, Adani Enterprises, as well as its other affiliates, Adani Total Gas, Adani Power, and Adani Wilmar, hit their respective lower circuits before recovering. Because of their massive transactions and optimistic development projections, Adani stocks have been performing significantly better than average for the most of this year. Therefore, the most recent drop in Adani share price could be attributed to investors cashing in their profits.
There are seven subsidiaries of the Adani Group that are currently traded on stock markets. They are known as Adani Enterprises, Adani Power, Adani Total Gas, Adani Green Energy, Adani Port, and Adani Wilmar, respectively. Adani Transmission is also a part of the Adani group.
Adani Enterprises share price
On Monday, Adani Enterprises hit a circuit that was 10% below than expected. The stock continued its downward trend for the sixth day in a row today. The stock as a whole has lost more than 15% of its value in the past week. Adani Enterprises’ share price has dropped by more than 23 percent since reaching a 52-week high of 3,883.70 per share on September 20. This is a drop of over 23 percent.
Adani Enterprises ended the day on the BSE trading at 3,157.15 rupees a share, representing a loss of 293.85 rupees, or 8.51%. The value of the company on the market is around 3,59,915.45 crore.
The corporation made the announcement the week prior that its wholly-owned subsidiaries had completed the Access-Controlled Six Lane (Expandable to Eight Lane) Greenfield Ganga Expressway Project (Group-II, III & IV) in the State of Uttar Pradesh under the PPP modality.
In addition, the company was successful in raising one hundred crore through the sale of market-linked debentures.
Adani Power share price
Adani Power finished the BSE trading session at a 5% lower circuit price of 355.15 per share. The price per share was down by 18.65 yen as compared to the previous Friday’s closing price. The current valuation of the company on the market is somewhere about 1,36,979.19 crore.
The 52-week high price of a single share of Adani Power was recorded on August 22 at 432.80 rupees. Since then, the stock price has fallen by about 18 percent.
Adani Total Gas share price
The natural gas provider’s stock ended the day at 3,104.65 yen a share, a decrease of 232.35 yen, or 6.96%. A 10% lower circuit was briefly touched by the share price earlier in the day before it was able to repair itself. The value of the company according to the market is around 3,41,452.54 crore.
If this occurs, it will be the third consecutive decline in Adani Total share price. As of right now, the price of the company’s shares is around 19% lower than their 52-week high, which was reached on August 30 and stood at 3,816.30 yen each.
The previous week, Ventura Securities stated in its analysis on Adani Total Gas that, “By the end of the fiscal year in 2025, we forecast that gas volumes will have increased at a CAGR of 54.3% to reach 2,382 mmscm. Over the same time period, we anticipate a rise in revenue of 8,105 cr, an increase in EBITDA of 2,888 cr, and a net profit of 2,296 cr, each at a respective compound annual growth rate (CAGR) of 38.7%, 55.2%, and 65.2%. It is anticipated that EBITDA and net profit per scm will slightly increase from their respective levels of 11.9/scm and 7.9/scm in FY22 to 12.1/scm and 9.6/scm in FY25, respectively. This is a little increase from the levels seen in FY22. In spite of the significant investment, it is anticipated that the balance sheet would continue to be in good shape due to the robust cash flow production. As a consequence of this, it is anticipated that the return ratios of RoE and RoIC will improve by 1627 basis points to 37.4% and 1202 basis points to 32.5% respectively by FY25.”
Regarding valuation, the analysts stated additionally, “Since we first started following Adani Total Gas Ltd. (ATGL), the stock price has increased by 105%, going from 1,685 rupees to 3,456 rupees. We believe that the stock has run well ahead of the fundamentals as we roll forward and bake in forecasts for FY25,” adding, “we suggest a HOLD on the stock with a target price to 3,475 implying an upside of 0.5%.””
Adani Transmission share price
On the BSE, a share in Adani’s power transmission company closed at 3,120.65 rupees, representing a decrease of 170.05 rupees, or 5.17%. The market capitalization of the company is approximately 3,48,106.22 crore.
If this were to happen, it would mark the sixth drop in a row for Adani Transmission on Dalal Street. The 22nd of September was the most recent day that the stock traded for more than 4,000 yen.
On September 16, 2018, each share of Adani stock reached a new 52-week high price of 4,238.55 rupees. Since then, the price of the shares has dropped by more than 26%.
Adani Green Energy share price
Adani Green ended the trading day on the BSE at 2,076.65 rupees a share, representing a loss of 182.90 rupees, or 8.09%. The value of the company according to the market is around 3,28,948.10 crore.
The company made the announcement on October 3 that its subsidiary Adani Renewable Energy Holding Four has incorporated three new companies. Adani Renewable Energy Holding Four is completely owned by the company.
According to the regulatory filing, the primary goal of the newly formed subsidiaries will be to produce, develop, transform, distribute, transmit, sell, and supply any kind of power or electrical energy by utilizing wind energy, solar energy, or other renewable sources of energy. This will be done in a variety of ways.
Since the beginning of the previous month, the shares have been under pressure. The price of each share of Adani Green fell for seven consecutive trading days, from September 21 to September 29, before staging a modest recovery on September 30 and closing at a price of 2,259.55 each. Despite this, the beginning of October has taken on a tone that is negative. Having said that, the price of the stock has dropped by at least 13.5% in the past 11 trading days.
When compared to their all-time high, the shares are down about 32 percent. On April 19, the company’s stock price reached a new 52-week high of 3,048 yen per share.
Adani Wilmar share price
Adani’s FMCG player finished the day at 717.55 per share, which is a 5% decrease from its previous circuit. The value of the company on the market is around 93,258.44 crore.
The current price of Adani Wilmar shares is more than 18% lower than where they were trading at its all-time high. On April 28, the price of the shares reached a new 52-week high of 878.35.
Adani Ports share price
Adani Ports shares finished trading on the BSE at 785.45 rupees each, a decrease of 35.60 rupees, or 4.34%. The value of the company on the market is around 1,65,916.36 crore.
Shares of Adani Port have lost 161.5, which is equivalent to 17.05%, over the course of the past week. Adani Ports’s share price has fallen approximately 20.5% from its 52-week high of 987.90 rupees per share, which was reached on September 20.
On October 3rd, the company provided an update on its operational performance for the month of September 2022. Cargo volumes increased by 13% year over year for the corporation, reaching 26.1 MMT in September of this year. It was stated that “this volume jump is despite an extended monsoon which adversely impacted the coal demand/imports and the ban/higher duties on rice exports imposed at the beginning of the month.” Additionally, it was stated that “this volume jump is despite an extended monsoon which adversely impacted the coal demand/imports.”
The company handled 177.5 MMT of cargo during the first six months of FY23, which is an increase of almost 11% compared to the same time period in the previous fiscal year. Our annual guideline range for cargo run rate is 350–360 MMT, and the average monthly cargo run rate is well matched within that range.
With a collective market worth of over 17.74 lakh crore for its seven listed companies as of October 3rd, the Adani Group is currently the most valuable conglomerate in the world. In the meantime, Mukesh Ambani’s Reliance Industries has a market worth of over 16.06 lakh crore, and this is followed by the Tata Group’s TCS, which is currently valued at over 10.92 lakh crore.