° Adani Enterprises and Adani Ports are components of NIFTY 50 with combined Weightage of 2.09%
° Seems like more panic selling is on the cards today, as FPO is called off and halt in Margin loans by large banks.
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Adani FPO is called off. As most of the Investors were large business houses and probably they had subscribed to the issue on special request but unfortunately Adani shares have fallen significantly since then.
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Now, FPO money will be released back to the investors and if Adani ji will again request the Investors to buy the shares from cash market and close the short positions then short covering can push the prices higher again at some point in time.
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Panic selling and short covering will create a lot of volatility. So, It is better not to trade in Adani Group of stocks for few days.
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Disclaimer : I am not SEBI registered and this is not an investment advice. It is just our findings to make your job easier. Please seek advice from you financial advisor before trading or investing. We'll not be responsible for any profit or loss incurred by you.
