All listed Adani Group firms gain; Adani Enterprises shares jump 15 pc

PTI

New Delhi, March 1

Stocks of all the 10 listed Adani Group firms ended with gains on Wednesday, continuing the positive momentum amid a recovery in the broader equity market.

Adani Enterprises stock jumped 14.70 per cent to settle at Rs 1,564.55 on the BSE. In intra-day trade, it rallied 15.83 per cent to Rs 1,580.

In two days, the company’s stock has climbed 31 per cent.

The market valuation of Adani Enterprises has jumped Rs 42,219.95 crore in two days.

Adani Transmission advanced 5 per cent, Adani Green Energy rose 4.99 per cent, Adani Wilmar gained 4.99 per cent, NDTV rallied 4.99 per cent and Adani Power climbed 4.98 per cent.

Shares of Adani Total Gas jumped 4.85 per cent, Ambuja Cements (3.32 per cent), ACC (2.14 per cent) and Adani Ports (1.61 per cent).

The broader equity market also recovered after falling in the past eight trading sessions, with the BSE Sensex climbing 448.96 points or 0.76 per cent to settle at 59,411.08 points.

The cumulative market valuation of the ten companies stood at Rs 7.56 lakh crore at the end of trading on Wednesday.

Shares of eight of the ten listed firms of the Adani Group closed in the positive territory on Tuesday after taking a beating in recent sessions.

However, Adani Transmission fell 5 per cent and Adani Total Gas declined 4.99 per cent on Tuesday.

Adani Group stocks have taken a beating on the exchanges after US-based short seller Hindenburg Research last month made a litany of allegations, including fraudulent transactions and share price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

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