Adani Green Energy down by up to 25 percent.
After making investors rich, there is a huge sell-off in the stock of two companies of Gautam Adani. These two stocks of Adani Group have slipped up to 25 per cent in just one week.
For some time the stock market (Share Market UpdatesHeavy selling continues. Barring one day, the market is closing with a decline since April 29. So far in May, the stock market has fallen by 8 percent. This fall has affected all sectors and all stocks. Inflation in America in the month of April (US inflation data) was less as compared to March, while it was higher in India. Due to this, foreign investors (foreign investors) the pace of selling has intensified. This week the Sensex recorded a huge decline of 3.72 percent (2041 points). 26 stocks in the top-30 closed with a fall. The Nifty recorded a decline of 3.83 per cent on a weekly basis and 43 of the 50 stocks closed down.
The BSE500, which gives more information about the market, closed with a fall of 4.81 percent. In the top-500, 447 stocks declined and only 53 stocks closed with gains. Out of these, 97 are such stocks in which double digit decline has been registered. Five stocks lost up to 20 per cent. Of these, only two stocks belong to the Adani Group.
Adani Green Energy down 25%
The stock of Adani Green Energy recorded a decline of about 25 percent this week. This week the stock closed at the level of 2171. This stock has given a return of 64 per cent so far this year. Has given a return of 107% in the last one year. The 52-week high of this stock is Rs 3050. Now this company is no longer in the top-10 in terms of market cap.
Adani Transmission down 23%
Adani Transmission recorded a decline of 22.22 percent this week. The stock closed at Rs 2190 level. The stock had reached the level of Rs 3000. The stock has given a return of 26 per cent so far this year and 82 per cent in the last one year.
Shares of these companies fell up to 25 percent
Apart from this, there has been a decline of about 25 percent in Dishman Carbogen Amcis. Rakesh Jhunjhunwala also has a stake in this company. The stock of Indostar Capital Finance declined by 23.57 per cent. GNFC shares fell 22.52 per cent.