
Adani Group stocks rise up to 5%, all ten counters in green; here’s why
Shares of three Adani Group companies - Adani Transmission, Adani Total Gas and Adani Green Energy - hit their respective 5% upper circuit limits.
Shares of three Adani Group companies - Adani Transmission, Adani Total Gas and Adani Green Energy - hit their respective 5% upper circuit limits.
Eight of ten Adani group stocks were trading in green, barring Transmission and Total Gas, with the conglomerate’s cumulative m-cap rising to ₹9.04 lakh crore.
An additional 0.76% stake in Adani Transmission and 0.99% shares in Adani Green have been pledged with SBI Trustee.
GQG has acquired 3.4% stake in Adani Enterprises, 4.1% in Adani Ports, 2.5% in Adani Transmission, and 3.5% in Adani Green Energy.
Of the nine Adani group stocks, 7 were trading higher amid report that Gautam Adani-led conglomerate is planning to prepay its loans.
Adani Transmission's restricted group credit assessment is not directly affected by the alleged malpractices at Adani group highlighted in Hindenburg report, says Fitch.
Adani Total Gas, Adani Green Energy, Adani Transmission, Adani Power, and NDTV hit their 5% lower circuit limits on Monday.
MSCI has lowered the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission, and ACC, while free floats of remaining companies have been kept unchanged.
Bucking the trend, Adani Wilmar shares jumped 5% as investors cheered the FMCG major’s third quarter earnings.
Adani Enterprises and Adani Wilmar shares were locked in their respective 10% and 5% upper circuit limit on the BSE. Adani Port, ACC, and Ambuja Cements rose up to 9%.