Adani Share Falls 20% after Allegation of Bribary

Adani Port Shares fall 20% : Investors Loss Rs 2600 Crore after Bribery Allegation

Adani Group company shares saw a significant drop on Thursday, November 21, 2024. Just after market opening shares dropped up to 20%. It is currently trading at Rs 1031.70. This made investors grow interest in market analysis.

Adani Ports Share Price Today

Today Adani Ports Share price started at Rs 1160.70 which is already a drop from the previous day’s close at Rs 1289.65. Just after ta trading session starts it falls down to Rs 1031.70. This indicated limited intraday movement and significant volatility.

Adani Group Shares Pirices

Company Closing Price (₹) Fall (%)
Adani Green Energy Ltd ₹1,185.90 -16% (-₹225.85)
Adani Enterprises Ltd ₹2,538.20 -10% (-₹282.00)
Adani Power Ltd ₹455.00 -13.18% (-₹69.10)
Adani Ports and SEZ Ltd ₹1,160.15 -10% (-₹128.90)
Adani Wilmar Ltd ₹300.35 -8.18% (-₹26.75)
ACC Ltd ₹1,975.00 -9.61% (-₹210.05)
New Delhi Television Ltd (NDTV) ₹148.30 -12.43% (-₹21.05)

 

Adani Port Financials

At present total market capitalization of Adani Port is around Rs 2,50,727 Crores. This makes EPS or earnings per share Rs 11.56 and a P/E ratio of 100.38. Which suggests the stock is overvalued compared to its original earning potential. Recently company reported its profit growth was 462.59%. This represents effective management and operational efficiency even after these challenges.

Recent News about Adani Ports Shares

Huge Drop in Share Price: today just after market opening Adani Ports’ share price has dropped significantly. This made investors grow concerned over the company’s finances.

Strong Growth in Sales: Recently Adani Ports reported their sales growth, which was 29.97%. It indicates a huge demand for logistics services and port operations by Adani, which is a great thing to keep in mind.

Sentiment and Market Outlook: The recent fall in share price suggests going with caution. whereas it might recover as the total trade volume increases.

US Bribery Allegations against Adani Group

The recent fall in share prices is because of news by US Prosecutors, who accuse Gautam Adani, Sagar R Adani, Vneet S Jaain, and others of $250 million or Rs 2100 Crore bribery. The allegation was made that this huge amount was paid to secure the solar energy contracts in India.

Pros and Cons of Adani Ports Share

Pros: If you are looking for pros then the latest reports show strong sales growth. which indicates demand for its services. Also, there are high promoter holdings, which indicates a long-term strategy.

Cons: The P/E ratio indicates the overvaluation of shares compared to the current market price. Apart from this recent allegations of bribery could impact its future business and investor relations.

Buy or Sell Recommendation on Adani Ports Share

Different analysts show different views about Adani Ports shares. ICICI Direct recommends buying with a target price of Rs 1400 as sales growth shows demand. Whereas Motilal Oswal suggests a hold strategy with a target price of Rs 1250. And HDFC Securities suggests to buy with a high target price of Rs 1500.

Partha Sarathi Manna

Partha Sarathi Manna

Partha Sarathi Manna is a Science graduate from the University of Calcutta with an advanced multimedia degree from Ramakrishna Mission. He has over four years of journalism experience, specializing in entertainment, lifestyle, technology, and travel. In his free time, he enjoys watching movies and web series and exploring new places. Contact: [email protected].

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