Eight Adani Group Stocks Settle With Gains; Adani Enterprises Rallies Over 5%

New Delhi:

Shares of eight listed Adani group firms settled with gains on Wednesday, with flagship company Adani Enterprises snapping four-day losing run by rallying more than 5 per cent.

At the close, eight group firms ended in the green territory while the two were in losses.

Shares of Adani Enterprises Ltd (AEL) advanced 5.81 per cent to settle at Rs 1,838.80 apiece on the BSE. During the day, the scrip hit an intra-day high of Rs 1,891.10 or 8.83 per cent. Its market valuation rose to Rs 2.09 lakh crore.

The flagship firm paused its downward trend in the last four trading sessions amid volatility in equity markets.

Adani Ports and Special Economic Zone (APSEZ) jumped 3.81 per cent to settle at Rs 679.10, Adani Transmission bounced 3.27 per cent to end at Rs 931 and Ambuja Cements went up 3.28 per cent to close at Rs 364.95 on the exchange.

In addition, shares of Adani Green Energy climbed 4.94 per cent to close at Rs 740.95, Adani Wilmar rose 3.12 per cent to settle at Rs 426.70, and NDTV went up 0.85 per cent to close at Rs 212.85. The scrip of these companies hit their upper price bands on the BSE.

Also, ACC gained 0.11 to settle at Rs 1,740.40 per share.

On the other hand, shares of Adani Total Gas declined 3.05 per cent to end at Rs 918.85, and Adani Power fell 1.27 per cent to close at Rs 202.15 on the bourse. The shares of these companies also hit their respective lower price bands on the BSE.

The 30-share BSE Sensex plunged 344.29 points or 0.59 per cent lower to close at 57,555.90 points. The broader NSE Nifty fell 71.15 points or 0.42 per cent to settle at 16,972.15.

On Tuesday, stocks of all the ten listed Adani group firms ended lower, with flagship firm Adani Enterprises tanking over 7 per cent amid a weak trend in the equity markets.

After taking a beating on the bourses, following the report by US-based short seller Hindenburg Research, the group stocks had recovered. However, amid sluggish broader market trends, the group’s stocks have declined in the last few trading sessions.

The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

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