Adani fights back

Ever since the Adani Enterprises Limited Follow-On Offer opened on January 27, the group has been on the backfoot post the Hindenburg report questioning it and its finances.

The aftershocks of the report rattled the group and its impact was felt by markets as well.

The group began its slow and steady fightback, and did many things to restore its image and credibility among various stakeholders.

The stock markets, which had witnessed crazy volumes and price movements in the Adani pack, saw volumes reducing significantly last week.

The exchanges took measures to curtail volatility and introduced higher margins on the stocks. Further the price volatility seems to be subsiding and things are getting back on track.

From the table which gives price changes during the week, the intraweek high and lows for the period from February 3 to February 10 shows that three shares from the pack rose, two shares registered marginal losses and the remaining four had double-digit losses