Adani Enterprises Ltd Share Price

In a personal note published on January 15th, Hindenburg founder Nathan Anderson stated that the firm will complete its ongoing investigations, primarily focused on uncovering Ponzi schemes, before officially closing its doors.  

Hindenburg's research reports, published since 2023, had significantly impacted Adani Group, leading to substantial losses for the Indian billionaire. All allegations made by Hindenburg were vehemently denied by Adani and his companies.  

Anderson did not provide a specific reason for disbanding Hindenburg. His announcement comes shortly after a Republican Congressman on the House Judiciary Committee requested the Department of Justice to preserve documents related to the Adani Group investigations.  

In his note, Anderson praised his team's dedication and highlighted the impact of their work in exposing financial fraud, including charges against numerous high-profile individuals.

He also announced plans to publicly share Hindenburg's research methodology, aiming to empower others to conduct their own investigations into financial misconduct.  

Anderson stated his intention to spend more time with family and support his team's future endeavors.

Hindenburg Research has gained notoriety for its short-selling reports that often allege financial misconduct by publicly traded companies. Their investigations have significantly impacted the financial markets and contributed to regulatory actions against numerous companies and individuals.

Adani Enterprises Ltd is up for a third straight session in a row. The stock is quoting at Rs 2428.3, up 1.68% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.44% on the day, quoting at 23314.5. The Sensex is at 77056.18, up 0.43%. Adani Enterprises Ltd has dropped around 2.38% in last one month.

Meanwhile, Nifty Metal index of which Adani Enterprises Ltd is a constituent, has dropped around 8.65% in last one month and is currently quoting at 8280.95, up 1.43% on the day. The volume in the stock stood at 19.6 lakh shares today, compared to the daily average of 17.69 lakh shares in last one month.

The benchmark January futures contract for the stock is quoting at Rs 2444.45, up 2.31% on the day. Adani Enterprises Ltd is down 18.27% in last one year as compared to a 8.08% spurt in NIFTY and a 9.17% spurt in the Nifty Metal index.

The PE of the stock is 100.78 based on TTM earnings ending September 24.

At 14:30 IST, the barometer index, the S&P BSE Sensex, declined 131.29 points or 0.17% to 78,116.84. The Nifty 50 index shed 10.50 points or 0.04% to 23,634.40.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.15% and the S&P BSE Small-Cap index advanced 0.52%.

The market breadth was positive. On the BSE, 2,114 shares rose and 1,796 shares fell. A total of 127 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index gained 1.19% to 10,757.90. The index fell 0.83% in past two consecutive trading sessions.

Oil India (up 3.17%), Oil & Natural Gas Corpn (up 2.75%), Mahanagar Gas (up 2.41%), Indraprastha Gas (up 2.06%), Castrol India (up 1.89%), Indian Oil Corporation (up 1.59%), GAIL (India) (up 1.53%), Aegis Logistics (up 1%), Petronet LNG (up 0.99%) and Hindustan Petroleum Corporation (up 0.81%) advanced.

On the other hand, Adani Total Gas (down 2.62%), Gujarat Gas (down 0.53%) and Gujarat State Petronet (down 0.51%) edged lower.

Numbers to Track:

The yield on India's 10-year benchmark federal paper slipped 0.17% to 6.874 as compared with the previous close of 6.886.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.6000, compared with its close of 85.5250 during the previous trading session.

MCX Gold futures for the 5 February 2025 settlement rose 0.36% to Rs 76,535.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.19% to 107.92.

The United States 10-year bond yield declined 0.68% to 4.514.

In the commodities market, Brent crude for March 2025 settlement added 54 cents, or 0.73% to $74.53 a barrel.

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Venus Remedies jumped 4.61% after the company received good manufacturing practice (GMP) certification from Ministry of Health of Moldova for the company’s antibiotic -Carbapenem facility.

Shares of Adani Wilmar dropped 6.69% and Adani Enterprises (AEL) declined 2.61% after AEL informed that it has signed an agreement with Wilmar International to exit from the joint venture (JV), Adani Wilmar.

Adani Enterprises, Adani Commodities LLP (a wholly-owned subsidiary of AEL) and Lence Pte. (a wholly owned subsidiary of Wilmar International) have entered into an agreement on 30 December 2024, under which Lence will acquire all the paid-up equity shares of Adani Wilmar (AWL) held by ACL as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of AWL.

In addition, AEL will divest around 13% shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements. Upon completion of these two transactions, AEL would completely exit its about 44% holding in Adani Wilmar. As on Friday, 27 December 2024, Adani Wilmar had market capitalization of Rs 42,785 crore (US$ 5.0 billion).

AEL will use the proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry. AEL added that it will continue to invest in infrastructure sectors which will further strengthen its position as India’s largest listed incubator of platforms playing the key macro themes underpinning India’s growth story.

Accordingly, the company has also executed the agreement and the directors nominated by ACL, i.e., Pranav V. Adani and Dr. Malay Mahadevia, shall resign from the board of directors of Adani Wilmar.

Adani Wilmar is a provider of Edible Oil, Vanaspati, and Specialty Fats. The company offers soyabean oil, sesame oil, sunflower oil, cottonseed oil, groundnut oil, mustard oil, groundnut oil, and coconut oil, as well as vegetable ghee. The company is one of the largest FMCG companies in India.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.

Adani Enterprises (AEL), Adani Commodities LLP (ACL, a wholly-owned subsidiary of AEL) and Lence (a wholly-owned subsidiary of Wilmar International (Wilmar) have entered into an agreement on 30 December 2024 pursuant to which Lence will acquire all the paid-up equity shares of Adani Wilmar held by ACL as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of AWL.

In addition, it has been agreed between the parties that AEL will divest ~13% shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements. It may be noted that with completion of these two legs, AEL would completely exit its ~44% holding in Adani Wilmar.

As on Friday, 27 December 2024, Adani Wilmar had market capitalization of Rs 42,785 crore (US$ 5.0 billion). In consideration of the above, AEL's board of directors has adopted a resolution noting the resignation of ACL's nominee directors from the board of Adani Wilmar. The parties have agreed to take further steps for change of name of ‘Adani Wilmar'.

AEL will use the proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry. AEL will continue to invest in infrastructure sectors which will further strengthen AEL's position as India's largest listed incubator of platforms playing the key macro themes underpinning India's growth story.

In the cash market, the Nifty 50 fell 168.50 points or 0.71% to 23,644.90.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.55% to 13.97.

State Bank of India, Zomato and Adani Enterprises were the top-trading individual stock futures contracts in the F&O segment of the NSE.

The January 2025 F&O contracts will expire on 30 January 2025.

Adani Enterprises, Adani Commodities LLP (a wholly-owned subsidiary of AEL) and Lence Pte. (a wholly owned subsidiary of Wilmar International) have entered into an agreement on 30 December 2024, under which Lence will acquire all the paid-up equity shares of Adani Wilmar (AWL) held by ACL as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of AWL.

In addition, AEL will divest around 13% shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements. Upon completion of these two transactions, AEL would completely exit its about 44% holding in Adani Wilmar. As on Friday, 27 December 2024, Adani Wilmar had market capitalization of Rs 42,785 crore (US$ 5.0 billion).

AEL will use the proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry. AEL added that it will continue to invest in infrastructure sectors which will further strengthen its position as India’s largest listed incubator of platforms playing the key macro themes underpinning India’s growth story.

Accordingly, the company has also executed the agreement and the directors nominated by ACL, i.e., Pranav V. Adani and Dr. Malay Mahadevia, shall resign from the board of directors of Adani Wilmar.

Adani Wilmar is a provider of Edible Oil, Vanaspati, and Specialty Fats. The company offers soyabean oil, sesame oil, sunflower oil, cottonseed oil, groundnut oil, mustard oil, groundnut oil, and coconut oil, as well as vegetable ghee. The company is one of the largest FMCG companies in India.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.