Gautam Adani: This stock of Adani Group made investors cry the most, fell 38% in February – adani power lost 38 percent in February highest in midcap space
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The list of top losers in February includes Zee Entertainment Enterprises, Indian Railway Finance Corporation, ACC, NHPC, Patanjali Foods, LIC Housing Finance and Emami. Shares of Baba Ramdev’s company Patanjali Foods fell 13 per cent last month. Equity markets remained sluggish throughout the month of February. Investors took a cautious approach. Central banks may continue to increase interest rates further to contain inflation. That’s why investors kept distance from stock markets. The domestic stock market witnessed a decline in the last eight sessions of February. Investor sentiment was also affected by persistent withdrawals by foreign portfolio investors.
Why the decline in Adani Group
Adani Group’s shares fell heavily due to a report by American short selling firm Hindenburg Research. Many shares of the group had reached their lowest level in 52 weeks. However, the shares of the group have gained in the last two days. Shares of the group’s flagship company Adani Enterprises have gained 31 per cent in two days. Eight out of ten shares of the group had advanced on Tuesday. All ten shares of the group closed with gains on Wednesday.
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