Adani Wilmar, Adani Power, Adani Total Gas other group stocks gain up to 10% in the morning trades.

Gautam Adani led Adani Group of companies, including Ambuja Cement and New Delhi Television Ltd, ACC Ltd continued adding to their gains in the morning trades on Thursday on a day when benchmark indices were trading in the red. 

The combined market cap of the 10 Adani group listed companies had increased by about 27316 Crore in the morning trades. investor confidence has got a boost post US government agencies finding allegations levelled by Hindenburg against the Adani group as irrelevant and unsubstantiated.

Adani Total Gas Ltd with its stock prices gaining up to 9.98 % was the largest gainers among the Adani group of companies. The stock after touching intraday highs was trading with gains of more than 8% 

Adani Green Energy, saw its share price  too rise around 8.6% on Thursday morning , closely following Adani Green though after a strong opening settled lower as frontline indices saw pressure. Adani green  was trading with gains of slightly more than 3%.

Adani Power and Adani Ports and Special Economic Zone stood amongst prominent gainers with their share price seeing smart gains of more than 2 per cent in the opening session closely followed by Adani Enterprises Ltd, Adani Wilmar Ltd,

Adani Energy Solutions added to its gains and gained 6.6% to touch intraday highs though was tarding with gains of around 3% thereafter

Ambuja Cement ACC Ltd also opened with gains of more than 1% while NDTV touched intraday highs of 300 up more than 5% though was trading at 285 levels thereafter.

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Adani power has seen its share price rise 325% since lows seen in February following Hindenburg leveling allegations against the Adani group in January. The Adani Power share price has also surpassed its Pre Hindenburg report levels.

Another group company Ambuja Cement Ltd too has seen its share price surpass the pre-Hindenburg levels

Adani green energy with handsome gains of 270% since its 52-week lows in February fast inching towards pre-Hindenburg report levels seen in January.

Other group companies as Adani ports, Adani total Gas and Adani Enterprises have also rebounded up to 185% from their lows.

The news flow remains strong pertaining to business progress too.

Adani posrts and SEZ had clocked a cargo value of 36MMT in November ’23, recording 42% YoY growth, taking its year tp date FY24 volume to 275 million tonne (up 21% YoY).

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Meeting of Board of directors of Adani Ports will be held on Tuesday, 12th December 2023, inter alia, to consider the proposal for issuance of Non-Convertible Debentures and issuance/ renewal of non-cumulative redeemable preference shares, on private placement basis/ preferential basis, in one or more tranches.

 

Ambuja Cement has completed acquisition of Sanghi cement. y.

Adani Power in a recent release also had announced that it will co-fire Green Ammonia at its Mundra Plant for a sustainable future. Rea

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Published: 07 Dec 2023, 11:41 AM IST

First appeared on www.livemint.com

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