![Lok Sabha Election 2024 Results: Adani Group stocks plunge up to 20% as market sees bloodbath](https://images.assettype.com/fortuneindia%2F2023-03%2F966b26e4-f3a2-4024-a325-4a0b8661e381%2FAdani_Image.jpg?rect=0,0,2048,1024&w=300&q=95)
Lok Sabha Election 2024 Results: Adani Group stocks plunge up to 20% as market sees bloodbath
Investors resort to panic selling and profit booking as opposition parties manage to maintain a strong hold even though NDA maintains its lead
Investors resort to panic selling and profit booking as opposition parties manage to maintain a strong hold even though NDA maintains its lead
The Adani group stock touched a 52-week high of ₹410 on September 12, 2023, rebounding over 200% from its 52-week low of ₹132.55 hit on February 28, 2023.
For Q2 FY24, ATGL reported 8% YoY rise in consolidated net profit at ₹173 crore, while revenue from operations dropped 1% to ₹1,179 crore.
In March this year, Jain-led GQG Partners acquired minority stakes in four of the listed Adani Group companies for ₹15,446 crore.
This largecap stock has risen from ₹532 to ₹1,878 apiece in the last one year, generating a 250% return to its shareholders in this time horizon.
Investment of ₹1 lakh in this Adani group stock on January 18 last year would be now worth ₹5.35 lakh