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Adani Transmission Share Price Forecast: When To Buy?


A recent report from short-selling firm Hindenburg Research has sent Adani Transmission share price tumbling. Stocks of other Gautam Adani-owned companies are also showing a similar price crash. Adani power share price and Adani Wilmar share price have lost a significant chunk of their market cap in the last couple of weeks.

Latest Gautam Adani News

The more bad news is piling up every day for the troubled Indian billionaire Gautam Adani. As per the latest news, the Indian regulator will be briefing the Finance Ministry on the recently withdrawn $2.5 billion public issuance by Adani Group.

In other news, the CEO of Singapore’s prominent DMS group has said that the firm manages a very tight exposure to the Adani group of companies. After its latest management meeting, LIC group has also said that it would be reviewing its stake in Adani companies. LIC group is one of the largest insurers in the country.

Adani Transmission Share Price Chart

The share prices of most Adani companies are in a downward spiral. Adani Transmission share price has tanked almost 60% since the release of the controversial Hindenburg report. At the time of writing, AdaniTrans stock is trading at ₹1127. On Monday, the stock opened 5% below its last week’s closing price. Adding to the troubles of the ill-fated investors.

In the coming days, I expect the volatility to increase significantly in anticipation of the upcoming CPI date. The January 2023 CPI numbers are likely to affect the rate hikes, which will be decided in the next FOMC meeting.

Technical analysis of the daily chart suggests that the bottom is still far away. This is because the next major support lies at ₹888. This would mean a potential decline of another 20% from the current price level. This could provide a decent buying opportunity for long-term investors. However, the risk should be appropriately managed for any Adani exposure in these times, as the Hinderburg controversy might also affect the company’s revenue in the ongoing quarter.

Adani Transmission share price chart
Adani Transmission Share Price Chart