Adani Enterprises stock is down 51.29 per cent this year. In a year, the Adani Enterprises stock has risen 8%. Adani Enterprises stock opened with a loss of 4.1% at Rs 1873.05 today. 
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Adani Enterprises stock is down 51.29 per cent this year. In a year, the Adani Enterprises stock has risen 8%. Adani Enterprises stock opened with a loss of 4.1% at Rs 1873.05 today. Shares of Adani Enterprises Ltd fell for the second straight session today after CARE Ratings downgraded the outlook on Gautam Adani's flagship entity from stable to negative while considering the ongoing regulatory and legal scrutiny. The Adani Enterprises stock slipped up to 6.76% to Rs 1821 against the previous close of Rs 1953.10 on BSE. In the last session, Adani Enterprises shares closed 4.24% lower on BSE.
The stock is down 51.29 per cent this year. In a year, the Adani Enterprises stock has risen 8%. Adani Enterprises stock opened with a loss of 4.1% at Rs 1873.05 today.
Adani Enterprises’ market cap slipped to Rs 2.14 lakh crore in the current trading session. Total 1.86 lakh shares changed hands amounting to a turnover of Rs 34.56 crore on BSE.
At the current level, the stock is trading 57.21% lower than the 52 week high of Rs 4189.55 reached on December 21, 2022 on BSE. On the other hand, the stock has zoomed 85% from the 52 week low of Rs 1017.10 hit on February 3, 2023.
Sentiment in the stock has turned negative with India Ratings too downgrading the outlook on Adani Enterprises Ltd (AEL) from “stable” to “negative”.
The ratings agency has also downgraded Adani Green Energy Ltd (AGEL) from “stable” to “negative” while affirming the long-term issuer rating for both at “A+”. AEL's negative outlook reflects uncertainty about cash flow mismatches resulting from the revised capex plans and the possible sources of funding available which may keep the equity cover lower than 2x.
In terms of technicals, the relative strength index (RSI) of Adani Enterprises stands at 49.7, signaling it's trading neither in the overbought nor in the oversold zone. Adani Enterprises stock has a one-year beta of 1.8, indicating very high volatility during the period. Adani Enterprises shares stand higher than the 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
"The negative outlook is due to expected moderation in financial flexibility of the Adani Group in case of any adverse outcome or observations in on-going regulatory and legal scrutiny directed by Honourable Supreme Court of India in connection with various allegations against Adani group companies," CARE said in a report.
Conversely, if the outcome is satisfactory, then the financial flexibility of the Adani group may be restored and may lead to a revision of outlook to stable, the ratings agency said.
The Hindenburg Research report that jolted the Adani Group’s fortunes and future plans came on January 24 just before Adani Enterprises’ Rs 20,000 crore follow-on-public offer (FPO) opened. The Hindenburg report accused the Adani Group of accounting fraud and stock manipulation. The Adani Group has denied Hindenburg’s allegations as being “malicious”, “baseless”, and a “calculated attack on India.”
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