The cumulative market capitalisation (m-cap) of billionaire Gautam Adani-led Adani Group companies registered a sequential growth of 7%, or ₹71,032 crore, in the month of July as the share price of listed entities rose between 1% and 15%. The total m-cap of ten listed entities surged to ₹10.8 lakh crore as on July 31, 2023, from ₹10.09 lakh crore on June 30.
The rally in Adani group shares can be attributed to the management’s recent announcement of stock sale to raise funds as well as quarterly earnings report. The Ahmadabad-based conglomerate raised an investment of around $1.38 billion (₹11,330 crore) from stock sales in three listed entities - Adani Enterprises (AEL), Adani Green Energy Ltd (AGEL), and Adani Transmission Ltd (ATL). Overall, the port-to-energy conglomerate raised almost $9 billion in the past four years, led by some marquee investors such as Qatar Investment Authority (QIA), Total Energies, International Holding Company (IHC), and GQG Partners.
The solid quarterly results by Adani Group companies during the first quarter of the current fiscal also lifted sentiments. While five of the group companies have declared their results, the remaining five are slated to release their earnings report in the first week of August.
Here’s how Adani stocks performed in July
The group’s flagship company, Adani Enterprises saw its market cap rising by 4.36% to ₹2,84,111 crore on July 31, compared to ₹2,72,238 crore on June 30. The company is set to release its first quarter earnings report on August 3.
Adani Green Energy, a leading player in the renewable energy space, was the best performer among the group companies with an impressive 15.58% increase in market cap. The company's market cap climbed to ₹1,73,182 crore on July 31, compared to ₹1,49,833 crore on June 30.
ACC registered an impressive growth of 11.26% in its market cap last month. The company's market cap increased to ₹37,893 crore on July 31, from ₹34,058 crore on June 30.
Adani Power registered an uptick of 9.39% in its market cap as its market cap touched ₹1,05,410 crore on July 30, compared to ₹96,365 crore at the end of June.
Ambuja Cements reported a 8.71% growth in market cap, which stood at ₹91,935 crore on July 31, compared to ₹84,568 crore on June 30.
Adani Energy Solutions, formerly known as Adani Transmission, posted a growth of 6.97% in market cap, from ₹85,586 crore on June 30 to ₹91,548 crore on July 31.
Adani Wilmar, a joint venture with Wilmar International, saw its m-cap growing marginally by 0.47% last month. The company's market cap increased to ₹53,533 crore on July 31, compared to ₹53,280 crore on June 30.
Adani Total Gas posted a 1.39% rise in market cap, which moved up to ₹72,994 crore on July 31, compared to ₹71,993 crore on June 30.
Adani Ports & SEZ witnessed a 5.22% growth in its market cap, reaching ₹1,68,026 crore on July 31, from ₹1,59,688 crore on June 30.
NDTV was the least performer among the group companies as its m-cap rose by 0.61% to ₹1,475 crore on July 31, compared to ₹1,466 crore on June 30.
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