8 Adani Group Firms Close With Gains, Adani Enterprises Rises 5%
Adani Enterprises increased more than 5%, and the stocks of the eight Adani Group companies that are publicly traded finished the day higher. A few of the group stocks reached their highest circuit levels as well. On the BSE, shares of Adani Enterprises increased 5.51 percent to close at 1,982.85. It gained more than 10% during the day to reach an intraday high of 2,135. The main company's market value increased to 2.26 lakh crore. Adani Power, Adani Transmission, Adani Energy, Adani Total Gas, and Adani Wilmar each saw a 5 percent increase in share price, and their closing prices on the BSE reached the top of their respective price ranges. Moreover, Adani Ports and the Special Economic Zone saw a 4.95 percent increase in share price. Nevertheless, shares of ACC and Ambuja Cements decreased 1.65% and 1.50%, respectively. The 30-share BSE Sensex rose 415.49 points, or 0.69 percent, to end the day at 60,224.46 points. To reach 17,711.45 points, the NSE Nifty increased by 117.10 points, or 0.67 percent. When the group sold minority investments in four of its listed firms to US-based GQG Partners for 15,446 crore on Friday, shares of all Adani Group companies that are publicly traded increased. The group equities suffered losses on the exchanges after the report by US-based short seller Hindenburg Research, but they have made big gains over the past several trading days. A long list of charges against it, including stock price manipulation and illegal activities, were made in the study. The organisation has denied the accusations and said that it complies with all legal and transparency standards.
