Adani Enterprises stock zooms 19% from day’s low. What’s cooking?

After falling non-stop for seven consecutive trading sessions, shares of Nifty stock Adani Enterprises were on a downward trajectory on opening but soon bounced back to rally 19% from day’s low to hit day’s high at Rs 1,313.60.

The stock fell up to 7% in the morning but later on rallied up to 10% in the sharp U-turn. The flurry of activity in the counter comes ahead of a rejig by index provider MSCI tomorrow and a report that banks have retained credit limits of Adani’s flagship entity.