Shares of most of the Adani group companies gained in morning trade on Wednesday, amid a political standoff between opposition parties and the ruling Bharatiya Janata Party (BJP). Flagship company Adani Enterprises jumped 13 per cent.
Eight Adani group companies were trading in positive territory while two were in loss. Shares of Adani Enterprises rose 13.07 per cent to Rs 2,038 on the BSE taking its market capitalization to Rs 2.32 lakh crore.
Adani Ports
Adani Ports and Special Economic Zone rose 7.24 per cent to Rs 593.35 per share, with a market valuation of Rs 1.28 lakh crore.
Adani Transmission
Adani Transmission advanced 5 per cent to Rs 1,314.25, Adani Power advanced 4.99 per cent to Rs 182 and Adani Wilmar advanced 4.99 per cent to Rs 419.35. These shares have reached their upper price band.
ndtv
NDTV rose by 3.94 per cent to Rs 225.50, Ambuja Cements by 1.15 per cent to Rs 388.10 and ACC by 0.43 per cent to Rs 2,004.
The performance of two companies was weak
Two of Adani Group’s ten listed companies were in the red – Adani Total Gas fell 5 per cent to touch the lower price band at Rs 1,394.15, and Adani Green Energy fell 1.59 per cent to Rs 829.80.
In the morning session, the 30-share BSE Sensex climbed 350.16 points, or 0.58 per cent, to 60,636.20.
On Tuesday, six companies of the group closed on the green mark while four remained in the red mark. The combined market valuation of the group’s ten listed companies has declined by about Rs 9.2 lakh crore in the last 10 trading sessions beginning January 24, the day US-based short-seller Hindenburg Research came out with its adverse report.
Adani Group on Monday said the promoters will make a pre-payment of USD 1,114 million for the release of pledged shares of their firms before maturity in September 2024. These shares belong to Adani Ports and Special Economic Zone, Adani Green Energy and Adani Transmission. ,
(with PTI inputs)
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