Adani stocks make comeback after SC panel gives clean chit

PTI

New Delhi, May 22

Shares of all the 10 listed Adani Group firms continued their rally on Monday, with Adani Enterprises climbing nearly 19%, after a Supreme Court-appointed panel found no evidence of stock price manipulation in Adani Group companies, while a separate SEBI probe into alleged violation of money flows from offshore entities has “drawn a blank”.

The stock of Adani Enterprises zoomed 18.92%, the most among the group firms on the BSE.

Shares of Adani Wilmar jumped 10%, Adani Ports rallied 6.05%, Ambuja Cements gained 5.01%, Adani Power climbed 5%, Adani Transmission (5%), Adani Green Energy (5%) and Adani Total Gas (5%). NDTV advanced 4.98% and ACC climbed 4.93%.

The combined market valuation of the 10 listed Adani Group firms reached Rs 10,16,212.15 crore on Monday. Shares of all the 10 listed Adani Group firms ended on a positive note on Friday as well.

In two days, the combined market valuation of all the group firms jumped by Rs 1,14,641.79 crore.

In the equity market, the Sensex climbed 234 points to settle at 61,963.68.