Adani Enterprises shares on a
roller-coaster ride! What's next?

Story by: Tanya Aneja
Designed by: Pragati

Shares of Adani Enterprises have corrected over 56% from its 52-week high of Rs 4,189.55, hit on December 21, 2022

Adani Enterprises shares
on Dalal Street

Shares of Adani Enterprises are up over 80% from their recent low of Rs 1,017.10, hit on February 03, 2023

Adani Enterprises: Up
80% from recent lows

Shares of Adani Enterprises ended 5.8% higher at Rs 1,838.80 on March 15, 2023, on the Bombay Stock Exchange. Market cap of the firm rose to Rs 2,09,623.41 crore
 

Adani Enterprises: Current share price

"Adani Enterprises had witnessed a massive decline in the primary trend in January with huge volumes while in February, it had formed a double bottom formation at around Rs 1,000–1,100 levels. The double bottom looks like the "W" letter," says Pravesh Gour, Senior Technical Analyst, Swastika Investmart

Adani Enterprises:
On Technical charts

"On the upside, the levels of Rs 2,050 operate as susceptible levels; above these, we can anticipate a protracted move towards Rs 2,400 in the shorter to longer term. On the downside, Rs 1,400 acts as crucial support during any pullback. This stock is highly volatile. As a result, investors are advised to avoid such counters," added Gour

Adani Enterprises:
Levels to watch out for

Adani Group announced it has prepaid margin-linked share-backed financing worth $2.15 billion as part of its debt repayment plan, before its deadline of March 31

Adani Group:
Latest developments

Hindenburg's report alleged stock manipulation and improper use of tax havens, and flagged debt concerns. However, Adani Group denied all the claims

Adani-Hindenburg row

Notably, the shares of Adani Enterprises have delivered a 1,000% return to its shareholders in the last 5 years

Adani Enterprises:
1,000% return in 5 years

The content in the story is for information purposes only. Investors or market participants should consult their financial advisors before taking any position

Disclaimer