Adani Green Energy tops the charts with a 20.35% rally; NDTV, Ambuja, and ACC follow with double-digit gains

SEBI report sheds light on the progress of the extensive probe into alleged stock price manipulation by the Adani Group. The regulatory body said that it is still waiting for vital information from overseas regulators.

The end to the financial year 2022-23 was quite painful as Nifty lost over 1,500 points in just over 3 months. The domestic market is the one of the most underperforming markets in the world in recent times, which has taken a toll on investors’ sentiment.

More generally, it’s not that easy making money from shorts. According to S3 Partners, a specialist New York-based consultancy that tracks short positions, short selling generated aggregate gains of $300 billion last year as stock markets fell. But that simply offsets some of the $572 billions of losses suffered over the previous three years.   

About 1,764 shares have advanced, 1,602 declined and 133 are unchanged. 

One of the trending news on the internet is the Hindenburg Research report which is raising concern over the debt positions of Adani group companies.

The important point is the fact after Adani Enterprises’ inclusion in the Nifty50 index, it forced exchange-traded funds (ETFs) and index funds- on which rides a lot of pension money to buy the stock that traded at an astronomically high P/E multiple.

Shares of the company closed in green despite market correction.

The group confirmed the deal to acquire Holcim’s stake in Ambuja Cements and ACC Ltd for $10.5 billion or Rs 81,361 crore. Holcim owns 63.19 per cent in Ambuja Cements and 4.48 per cent in ACC Limited.

The month of April was a wicked one for the stock markets across the world and Indian markets were no exception as Nifty plunged 2 per cent.

The core equity indices ended in red with Nifty below 16500 in the highly volatile market on Thursday dragged by the auto and financial names. Sensex dropped 0.66 per cent closing at 55,102.68 level and Nifty closed 0.65 per cent lower at the 16,498 level.