Adani Group‘s flagship company Adani Enterprises has had a difficult run at the bourses since the start of the year. The stock along with the other nine Group stocks has been reeling after the Hindenburg report came out earlier this year. However, the company has generated tremendous returns for its investors over the years.
The Investment: On May 26, 2014, the day Prime Minister Narendra Modi took office, if you had invested 10,000 in Adani Enterprises, you would have purchased around 20 shares. That investment would now be worth around 48,080 at the current market price of around 2,404. That is a substantial return of more than 380% in just over nine years.
Background: The Gautam Adani-led conglomerate is still having problems, despite the Group problems having subsided over the past few months. Following the Hindenburg Report, which charged the company with financial misconduct, The Group has come under scrutiny.
The organisation said last week that it is not aware of any subpoenas to its American investors from the U.S. Securities and Exchange Commission in response to rumours of an investigation by U.S. regulators. The US-based investment firm GQG Partners, which invested an additional $1 billion (8,200 crore) in Adani Group equities, was another important investor in the company.
0dani Enterprises’ share price was up 0.74% to trade at ₹2,403.05 in the afternoon hours of trading on Tuesday.