Shillong, May 2: Adani Wilmar will release its Q4 financial results on May 3, while Adani Enterprises, the company’s flagship, will do so on May 4. Although the price of Adani Wilmar shares was slightly higher, the price of Adani Enterprises stock was on the lower side.
The upcoming financial reports of the Adani Group firms will be highly anticipated by investors as they will offer crucial details about their balance sheets and performance.
Given that shares of all Adani Group companies fell precipitously after US short-seller Hindenburg Research published a damning report, the Q4 results will be crucial. The aggregate market value of the Adani Group decreased by approximately $150 billion as a result of the study.
This week, attention will be focused on the shares of the listed firms belonging to the Adani Group as many of them prepare to release their Q4FY23 financial results.
Adani Green Energy and NDTV, two of the group’s listed firms, released their Q4 earnings on Monday. While NDTV’s net profit fell 98% to Rs 59 lakh, Adani Green Energy’s net profit increased four-fold to Rs 507 crore.
Early on, shares of Adani Green Energy were trading almost 3% higher, while those of NDTV were down 0.98 %.
Adani Total Gas and Ambuja Cement are getting ready to release their earnings for the three months that ended on March 31, 2023, later in the day. Four other listed Adani Group firms will publish Q4 results this week.
Adani Group’s valuation has increased significantly after the business aggressively began reducing its debt, but it will be difficult for it to return to the position it held prior to the Hindenburg incident.