Adani Group stocks rise up to 5%, all ten counters in green; here’s why

All 10 listed entities of billionaire Gautam Adani-led Adani Group were trading higher on Monday with three of them, Adani Total Gas, Adani Green Energy, and Adani Transmission, hitting their respective 5% upper price bands. While shares of the conglomerate's flagship entity Adani Enterprises climbed as much as 3.3%, Adani Wilmar and Adani Power rose up to 3%.  Among others, Adani Ports & SEZ surged 2.3%, while newly acquired cement entities Ambuja Cement and ACC added up to 2% in intraday trade today. The share price of NDTV also soared up to 3.8% on the domestic bourses. The cumulative market capitalisation of the listed entities of the conglomerate rose to around ₹9.4 lakh crore.

The positive trends in Adani group stocks were in sync with the broader market, which were trading higher amid strong rally across realty and power space. The market sentiments were also lifted by positive developments around the companies.

Here is list of Adani group stocks that are in focus today:

Adani Total Gas

Shares of Adani Total Gas extended their gaining streak and hit a 5% upper circuit limit for the second consecutive session after it reduced gas prices following revision in the pricing methodology for domestic natural gas by the government. It has cut prices of compressed natural gas (CNG) by ₹8.13 per kg and those of piped natural gas (PNG) by ₹5.06 per standard cubic metre (scm), effective from midnight April 7, 2023.

The share price of Adani Total Gas was locked at ₹907.55 level after opening higher at ₹869.90 against the previous closing price of ₹864.35 on the BSE. At the current price, the energy heavyweight trades 77% lower than its 52-week high of ₹3,998.35 touched on January 23, 2023, while it slipped to a 52-week low of ₹655 on March 1, 2023.

Adani Power

The share price of Adani Power also continued gaining momentum for the second trading day after it announced the commissioning of its first 800 MW ultra-super-critical thermal power generation unit at Godda in the Jharkhand district of India. The company has also begun supplying electricity from its plant in Godda to Bangladesh with 748 MW of power.

“The electricity supplied from Godda will significantly improve the situation in the neighbouring country as it will replace expensive power generated from liquid fuel, bringing down the average cost of power purchased,” it said in an exchange filing.

Boosted by the development, shares of Adani Power opened a tad higher at ₹193 against Friday’s closing price of ₹192.15 on the BSE. During the session so far, it gained as much as 2.8% to hit an intraday high of ₹197.5, while the market capitalisation surged to ₹75,036 crore. It hit a 52-week high and low of ₹432.80 and ₹132.55, respectively, on August 22, 2022, and February 28, 2023, respectively.

Adani Wilmar

Shares of Adani Wilmar grabbed investors’ attention after the FMCG arm of the diversified conglomerate released a business update for the March quarter (Q4 FY23). It posted year-on-year (YoY) volume growth of around 14% in FY23, which enabled it to cross ₹55,000 crore of revenue for the year. “We closed the financial year 2023 with around ₹3,800 crore of revenue in Food & FMCG segment, registering a strong growth of about 40% YoY in volumes and around 55% YoY in revenue terms, while seeding multiple new avenues of growth during the year,” it said in a regulatory filing.

Adani Wilmar shares jumped as much as 2.5% to ₹420 as compared to previous closing price of ₹409.55 on the BSE. The FMCG stock trades 28% higher than its 52-week low of ₹327 touched on February 28, 2023. It hit a 52-week high of ₹878.35 on April 28. 2022.

As per the company, it made good progress in scaling up its operations and gaining market share across food products. “The food business is scaling up well in line with our expectations. We have been making good progress in all enablers like sourcing, manufacturing, distribution, brand building and strengthening the teams for the new products,” it said.

In the edible oil segment, the branded sales volume grew 4% during the quarter, on the back of good consumer demand due to softened edible oil prices. However, overall oil sales volume was dragged down due to lower demand from the bakery and frying industry, it said.

Going ahead, the company expects the demand for packaged oils and staple foods to remain healthy despite the various macro-economic and geo-political events. “With our expertise in commodities and strong sourcing partnerships, we will continue to navigate the price volatilities and any supply disruptions,” it said.