Adani Ports Shares Surge Over 18% in Three Sessions

24-05-2023

Adani Ports shares surged over 18% in the last three sessions, reaching Rs 785.95 on May 24 from Rs 665 on May 19.

Adani Group stocks rose for three consecutive sessions following the suggestion by the AM Sapre committee that there was no regulatory failure in the Hindenburg's price manipulation allegation.

Despite the recent surge, Adani Ports saw a 2% drop to 719.40 on May 24, indicating some profit booking.

Adani Ports shares surged approximately 85% from their 52-week low at Rs 394.94 on February 3, 2023.

The stock is still over 27% below its 52-week high of Rs 987.90, reached on September 20, 2022.

US boutique investment firm GQG Partners raised its stake in the Adani group by 10%, with total holdings now standing at $3.5 billion.

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