As of 9:24 AM, Adani Group stocks are trading in the red, with Adani Wilmar (AWL) taking the sharpest hit, dropping by 7.68% to ₹268.75. This decline comes after its promoter, Adani Commodities, announced plans to exercise the oversubscription option in the ongoing offer for sale (OFS).
Stock Performance Highlights:
- Adani Enterprises (AdaniEnt): ₹2,353.00, down 0.90% (-₹21.40).
- Adani Ports (AdaniPorts): ₹1,098.15, down 1.26% (-₹14.05).
- Adani Green (AdaniGreen): ₹931.20, down 1.26% (-₹11.85).
- Adani Total Gas (ATGL): ₹669.35, down 1.75% (-₹11.90).
- Adani Power (AdaniPower): ₹476.20, down 1.26% (-₹6.10).
- Adani Wilmar (AWL): ₹268.75, down 7.68% (-₹22.35).
The sharp selloff in Adani Wilmar is attributed to the promoter’s decision to exercise the oversubscription option in the OFS. This move is perceived as increasing supply pressure on the stock, leading to heightened selling activity.
Investors are closely monitoring the developments within the Adani Group, particularly surrounding Adani Wilmar’s OFS, as it impacts market sentiment for other group companies.
Disclaimer: This article is for informational purposes and should not be considered investment advice. Please consult a financial advisor before making investment decisions.
