More Stories

Informist, Friday, Sept. 19, 2025

 

By Akash Mandal

 

MUMBAI – Bulls rushed to the derivatives chain of Adani Enterprises following sharp gains in the stock after the Securities and Exchange Board of India gave a clean chit to the conglomerate over Hindenburg Research's allegations of manipulation. Premiums on deep out-of-the-money call options contracts expiring this month were up manifold and open interest increased sharply, indicating the hope that the stock will rise more.

 

"There was a breakout today and it (Adani Enterprises) may test INR 2,800 this month, as seen by the long buildup today," Vipin Kumar, assistant vice-president of equity research and senior derivatives analyst at Globe Capital Market, said. The group's flagship company Adani Enterprises' stock ended over 5% higher at INR 2,524 on the National Stock Exchange, its highest level since Jul. 30. The INR 2,800 level is almost 11% higher than the current market price. 

 

The stock was also the biggest gainer in the Nifty 50 and the only constituent to have gained over 2% Friday. However, it is still 28?low the levels on Jan. 24, 2023 when Hindenburg first came up with its allegations against the conglomerate. Other stocks under the group such as Adani Power, Adani Total Gas, and Adani Green Energy ended 5-12% higher Friday. Adani Ports and Special Economic Zone was the least gainer, ending 1% higher, while AWL Agri Business closed 1% lower to become the only stock under the group in the red. 

 

The market regulator said there is no violation of its listing norms as the disputed transactions do not qualify as 'related party transactions'. This was after US-based Hindenburg Research had alleged that three entities--Adicorp Enterprises, Milestone Tradelinks, and Rehvar Infrastructure--were used as conduit entities to route funds from various Adani group companies to fund some of the group's listed firms.

 

Among call options of Adani Enterprises, the maximum open interest addition of 1.7 million was at the INR 2,600 strike, followed by the INR 2,800 strikes with an open interest addition of 1.5 million. The highest open interest concentration of 2.6 million was at the INR 2,600 call option and the second highest was at INR 2,800 strike. 

 

On the put side, traders did not make any aggressive bets. The highest open interest addition of 222,000 was at the INR 2,500 strike. The highest open interest concentration was at the INR 2,400 put and then the INR 2,500 contract.

 

While the Adani group stocks surged, the overall equity market tumbled on Friday. The Nifty 50 ended at 25327.05 points, down 96.55 points, or 0.4%. The index snapped a three-day winning run as investors booked some profits after the recent gains. Analysts said volumes are muted in the derivatives segment and that the stock market is expected to remain rangebound in the absence of key triggers.

 

The highest open interest addition on Nifty 50 call options was at 25350-25400 strikes. The highest open interest concentration was at the 25400 and 26000 options. On the put side, the highest open interest addition was at the 24500-25300 strikes and the highest concentration was at 25300 option. 

 

--Nifty 50 September closed at 25426.70, down 84.20 points; 99.65-point premium to the spot index

--Nifty 50 October closed at 25541.00, down 88.10 points; 213.95-point premium to the spot index

--Nifty 50 November closed at 25668.00, down 84.10 points; 340.95-point premium to the spot index

 

Adani Enterprises, Vodafone Idea, HDFC Bank, State Bank of India, ICICI Bank, Eternal, Adani Green Energy, Infosys, Bharti Airtel, Reliance Industries, Adani Ports and Special Economic Zone, Sammaan Capital, One 97 Communications, Axis Bank, and Canara Bank were the most active underlying stocks Friday.  End

 

Edited by Deepshikha Bhardwaj

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.