BSE, NSE lower circuit limit of three Adani group stocks. Details here
Stock market today: In a bid to ensure safety of retail investors’ money, Indian bourses have lowered circuit limit of three Adani group stocks. As per the information available on BSE and NSE website, Indian bourses have lowered circuit limit of three Adani group stocks — Adani Transmission, Adani Green Energy and Adani Total Gas from 20 per cent to 10 per cent. BSE, NSE took this decision after heavy beating of the Adani stocks in last three sessions after shot seller Hindenburg Research raised concern over debt positioning of Adani group companies.
So, after revision of circuit limit, Adani Transmission share price today would have upper circuit limit at ₹1,881.10 apiece on BSE whereas it would have lower circuit limit placed at ₹1,539.10 levels. Adani Transmission share price had ended at ₹1693.15 apiece on BSE, losing to the tune of 15 per cent on Monday session.
Likewise, after lowering of circuit limit from 20 per cent to 10 per cent, Adani Green Energy share price today would have upper price band placed at ₹1,306.45 apiece on BSE whereas it would have lower price band fixed at ₹1,068.95 levels on the same bourse. Adani Green Energy share price had ended at ₹1187.70 apiece on BSE on Monday session.
Similarly, after revision of circuit limit, Adani Total Gas share price will have upper circuit limit at ₹2,582.40 apiece on BSE whereas it will have lower circuit limit at ₹2,112.90 on Tuesday session. Adani Total shares had closed at ₹2347.65 apiece levels on Monday session on BSE.
Dip in market cap of these stocks
After the Hindenburg Research report on Adani group companies, all seven Adani groups stocks including these three shares have witnessed huge sell off in last three sessions. Adani Total Gas market cap has come down from around ₹4,95,310 crore to around ₹2,32,380 crore today whereas Adani Transmission shares’ market cap has dipped from around ₹3,08,655 crore to ₹1,82,445 crore in last four sessions. Similarly, Adani Green Energy shares’ market cap has come down from ₹3,03,450 crore to ₹1,74,220 crore.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.