Single entity takes ₹2600 cr in AEL position

A single market participant took a derivatives position worth an estimated ₹600 crore in Adani Enterprises Ltd (AEL), flagship of the Adani Group and a Nifty 50 stock, just days before India's markets regulator submitted its status report on the Adani probe to the Supreme Court on August 25

- Ram Sahgal

While it's not known whether the position is a hedge or a punt, market experts said such positions are normally taken in anticipation of a sharp price move based on an event.

Designated 'Client l' by National Stock Exchange (NSE), the participant initiated a position of 2.24 million shares, or 3.04% of AEL's marketwide position limit (MWPL) of 73.7 million shares on August 22. Based on the closing price of the AEL active futures contract on that day, the cost of the position is ₹607.25 crore.