Adani Flagship Rebounds from a 10% Drop Amid Series of Block Trades
- All ten Adani Group companies advance for a second day
- Blocks point to trades between foreign funds or founders: HDFC
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Shares of Adani Group companies climbed on Thursday as block trades in some of the conglomerate’s stocks suggested institutional investors were buying after a prolonged rout.
Flagship Adani Enterprises Ltd. erased an early loss of 10% as 36.8 million shares, equaling 3.2% of its equity, changed hands in two block trades. A series of block deals also punctuated early trading in other group stocks like Adani Ports and Special Economic Zone Ltd. and Adani Green Energy Ltd., according to exchange data.