Seven Adani Group companies saw a net loss of ₹11,442 crore in market cap this week.
Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Transmission Ltd were down by 2% to 4% for the week, and Adani Wilmar was down 1.4%.
Adani Ports & Special Economic Zone Ltd was flat while Adani Total Gas and Adani Power gained.
Adani Enterprises Ltd, Adani Transmission Ltd, Adani Green Energy Ltd, and Adani Wilmar Ltd lost market cap between ₹735 crore and ₹7,385 crore, while Adani Power Ltd, Adani Total Gas Ltd and Adani Ports & Special Economic Zone Ltd gained market cap between ₹161 crore and ₹3,889.
|Scrip Name||Closing Price as on April 13 (Rs)||Closing Price as on April 21 (Rs)||% Change||Market cap this week ( ₹crore)|
|Adani Total Gas||914.15||917.4||0.4%||354|
|Adani Green Energy||941||916.2||-2.6%||-3,869|
|Adani Ports & Special Economic Ltd||661||661.6||0.0%||161|
In Friday's session, six Adani companies ended in the red, while Adani Power was the only one that closed in the green.
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Adani Ports and Special Economic Zone's shares increased 2.43% to ₹674.45 a share on Thursday during the intraday session in response to news of the company's plans to partially buy back debt securities. The company's stock was also the top gainer on the Nifty 50 benchmark index.
The biggest private port operator in the nation has notified the stock markets that its board of directors would meet on Saturday, April 22, to discuss its first and partial buyback of some debt securities this fiscal year.
Kapil Shah, Technical Analyst, Emkay Global and Technical Trainer, Finlearn Academy, said that Adani Enterprises' underlying tone for broader trend is negative. The stock has faced resistance at ₹1,900 level followed by breach of rising trendline. It is a bearish development. In the coming week, the stock can face selling pressure up to ₹1,700 level.
According to Shah, Adani Green Energy stock has traded with sideways to negative in this week. It is trading in the range of ₹1,000 to ₹910. Underlying tone for the stock is negative. Moving below ₹910 can lead to further downside movement up to ₹830 level.
Further, Adani Ports and Special Economic Zone stock has traded on sideways note in this week. The stock has immediate base at ₹650 level. Moving below ₹650 level can be bearish development.
While, for Adani Transmission, underlying tone for the stock is sideways to negative. The stock has immediate support around ₹920 level.