Adani Enterprises share increased by 3 percent promoter firm's stake increased

Stock Update: The stock of Adani Enterprises, a company led by Gautam Adani, has seen a rise in early trade on Tuesday. The company's shares are trading up by 3 percent. The reason for this is said to be that the promoter group's stake in the firm has increased.

Today, the company's shares climbed 3.10 percent to Rs 2,720.65 on the Bombay Stock Exchange. On the other hand, if we talk about the National Stock Exchange, here too the company's shares have climbed 3 per cent to Rs 2,721.

At the time of writing the news, shares of Adani Enterprises were trading at Rs 2,686.55 per share, up 46.80 points.

In the morning trade today, 1.12 lakh shares of the firm were traded on BSE and 22.58 lakh shares on NSE.

Let us tell you that the promoters of the Gautam Adani-led company have increased their stake in the flagship firm of the group. Adani's shares were seen falling after the report of American short-seller Hindenburg Research. Now the shares of Adani Group have seen a boom.

According to a stock exchange filing, the promoter group has increased its stake in Adani Enterprises Ltd. Now their share has increased from 67.65 percent to 69.87 percent. Kempas Trade & Investment Limited held the minimum stake in the company. From August 7 to August 18 this year, the company acquired 2.22 percent.

Meanwhile, US-based boutique investment firm GQG Partners has also bought shares of Adani Group.

The Hindenburg Report, released on January 24, said Adani Group's shares are prone to unfair practices such as fraud, stock price manipulation, and tax evasion. By the way, Adani Group has denied all the allegations of Hindenburg. After this, he is planning a comeback strategy.

This includes reshaping its ambitions, scrapping acquisitions, prepaying debt to address concerns about its cash flow and borrowings, and slowing the pace of spending on new projects.