- By Vaamanaa Sethi
- Fri, 30 Jun 2023 11:34 AM (IST)
- Source:JND
The shares of Adani Enterprises Ltd. are trading in red, contracted by 1.15 percent in the early morning trade session today, on June 30. This likely happened as investors rushed to book partial profit following sharp gains last session, as per reports.
The stock rallied over by 5.7 percent on June 28 after promoter entity SB Adani Family Trust sold a 1.57 percent stake in the company. Adani Family Trust sold the shares at an average price of Rs 2,300 each, amounting to a total of Rs 4,140 crore.
This happened just after one trading session when Adani Green Energy and Adani Enterprises reported multiple large transactions valued at Rs 8,000 crore which took place on Tuesday.
Shares of Adani Transmission Ltd. also fell as much as 5 percent after 3.8 crore shares of the company's total equity exchanged hands in three large trades on Friday. The shares exchanged at an average price of Rs 795 per share, taking the total value to Rs 3,103 crore.
Other than Adani Enterprises and Adani Transmission, most other Adani Group companies — Adani Ports & Adani Wilmar trading down by 1.5 percent each, Adani Power lower 1 percent, ACC, Ambuja and Adani Total Gas are trading flat with losses. NDTV's shares are trading with modest gains.
Earlier this week, GQG Partners and others bought around $1 billion worth of Adani stocks. This was the third major investment in Adani Stock in the last one month.
GQG Partners, led by Rajiv Jain, had made a Rs 15,446 crore contra bet in March to pick stakes in four Adani Group firms - Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission and Adani Enterprises.
