Adani Power share price tanks 6% after 1:5 stock split as investors book profits following a 32% rally in 3 days
Adani Power share price: Shares of Adani group company — Adani Power — came under selling pressure on Tuesday, September 23, as investors booked profits following a stellar run in the counter amid a host of multiple cues in the last three trading sessions.
Adani Power share price fell as much as 5.8%, hitting an intraday low of ₹160.20 on the BSE, a day after the record date for its 1:5 stock split.
The decline appears to be driven by profit booking, after the stock surged over 32% in just three sessions, including hitting the 20% upper circuit in the previous trading session.
Sebi clean chit
The optimism in the counter had mainly been driven by India’s market regulator, Securities and Exchange Board of India (Sebi), dismissal of…
