Adani Group stocks fall on profit booking after stellar two-day run

After a remarkable surge in the past two trading sessions, Adani Group stocks experienced profit booking on November 30, leading to a pullback in their prices. Shares of several companies witnessed substantial gains of up to 38 percent over the last two trading sessions. However, as investors opted to lock in profits, the stocks retraced, falling up to 5 percent.

Adani Total Gas which rallied nearly 40 percent the last two days, fell 5.4 percent on November 30 to hit an intraday low of Rs 692 on the National Stock Exchange (NSE). Around 50 lakh shares traded on the NSE and NSE combined, below the one-week average volume of 79 lakh shares.

Adani Power shares fell 3.6 percent to the day’s low of Rs 417.10 on NSE. The stock surged 12 percent on November 28. Since then, it has fallen around 6 percent on account of profit booking. Year-to-date, Adani Power’s performance remains strong, showing a 42 percent increase, surpassing the Nifty 50 benchmark’s 10 percent rise during the same period.

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Shares of Adani Energy Solutions, too, fell over 3 percent to hit the day’s low of Rs 846.10 on the NSE. The stock surged nearly 20 percent in the last two days but still remains 4 percent down on a year-to-date (YTD) basis.

The Adani Green Energy share price also slipped over 3 percent to an intraday low of Rs 1,006.25 on NSE. The stock surged over 12 percent on November 28, and has since fallen around 4 percent. The counter is down 46 percent YTD. Adani Wilmar shares fell nearly 3 percent to Rs 337.10 on the NSE.

Shares of the Gautam Adani-led conglomerate flagship Adani Enterprises fell 1.8 percent to day’s low of Rs 2,351.00. Adani Ports shares were also trading with losses. Among other Adani Group listed firms, NDTV and Ambuja Cements shares were trading marginally higher, while ACC stock was trading in red.

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