This has been one of the worst weeks in history for Adani Group, plunging 50% in just 5 days. Hindenburg, on the other hand, gains massively.
Adani Enterprises Ltd (ADANIENT), led by Gautam Adani, had a brutal week. This 30-years-old company has been facing massive selloffs due to fraud allegations from a short-selling firm Hindenburg Research.
Down 50% in 5 days
Adani Enterprises 5-day stock chart, source: Google
Since Hindenburg accused Adani of fraud, the stock has been in a free fall. As of now, some losses have been recovered with the stock down approximately 48% in five days. However, it managed to fall to almost 1,000 Indian rupees (INR) at the beginning of the market open on Friday.
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