Trader interest in Adani stocks spurted in Nov2 min read 21 Mar 2023, 11:43 PM IST
Huge positions’ build-up happened weeks before FPO, Hindenburg report
Two Adani Group companies, the flagship Adani Enterprises (AEL) and Adani Ports, witnessed a sudden rise in trader interest at the beginning of November, causing the stock prices to move up sharply before crashing in February following the release of a report by US short-seller Hindenburg Research, which eventually led to the scrapping of AEL’s ₹20,000-crore follow-on public offer (FPO) and a steep decline in market cap of nine listedgroupfirms.
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