Adani Enterprises: The stock plunges 67% in three days, and there are five major problems.

The flagship business of the Gautam Adani-led Adani Group, Adani Enterprises, has fallen 67% in just three sessions, from Rs 3,050-level to Rs 1,017.10.

In just three trading sessions, the stock of Adani Enterprises destroyed two-thirds of investor value, sending the company into a rapid spiral. Adani Enterprises' stock fell 35% on Friday, reaching a fresh 52-week low of Rs 1,017.10 before briefly recovering.

The flagship firm of the Gautam Adani-led Adani Group, Adani Enterprises, has fallen 67% in just three sessions from a high of Rs 3,050 to a record low. However, the analysis from Hindenburg Research has severely hurt it, as the stock has fallen 75% from its 52-week high of Rs 4,189.55.

Exclusion from Dow Jones Sustainability Indices: Adani Enterprises shares have suffered another setback when the US said that the firm may be dropped from the indexes on Tuesday, February 7, 2023, prior to the market opening. This might make the Adani group's stake less desirable to funds that care about sustainability.

Adani Enterprises stock has experienced another shock from the US as a result of the firm's potential exclusion from the Dow Jones Sustainability Indices, which would take effect before to the market opening on February 7th, 2023. Due to this, funds interested in sustainability may find the Adani group's share less desirable.

NSE, in its circular released on February 2, noted that applicable rate of margin shall be 50 per cent or existing margin, whichever is higher, subject to maximum rate of margin capped at 100 per cent with effect from February 6, 2023 on all open positions as on February 3 and new positions created from February 6.

FPO called-off: Adani Enterprises, on February 1, announced to withdraw its Rs 20,000 crore follow-on public offering (FPO) just a day after conclusion of the issue, when it was booked 1.12 times. Adani Group chairperson Gautam Adani cited moral grounds for calling off the issue said money will be returned to investors. The move was not liked much by the street.