Adani Enterprises sees worst ever fall, erodes 76% wealth since December

Since January 24, Adani Group has erased around $117 billion market cap, one of the worst in history

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The share price of Adani Enterprises took a fresh knock on February 3, plunging more than 35 percent in the morning trade, a day after it was placed under National Stock Exchange’s Additional Surveillance Measure framework.

At 10.41 am, the stock was down 35 percent at Rs 1,017.45 apiece on the NSE. This is the worst-ever intraday fall for the stock. The stock has wiped out 76 percent value from its peak of Rs 4,190 hit in December 2022.

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In the F&O segment, call and put writers were also constantly shifting their positions lower. 1100 and 1200 strikes have seen most of the action, while higher strikes have seen unwinding.