Adani Enterprises shares crash 8% as traders book profits

Adani Enterprises’ three-day rally came to a stop as traders booked profits, pushing the stock down 8% and wiping off all gains. Adani Enterprises is the most valued stock among the Adani family’s ten listed companies. Other Adani firms, such as Adani Ports and Adani Wilmar, also suffered declines. Analysts said the high volatility of Adani’s stocks resulted in the rapid rise and fall but suggested the businesses still held intrinsic value for long-term investment. The downside in Adani’s stocks had occurred despite positive news, including the report from the SC on Hindenburg’s claims.