Adani Enterprises surges over 70% in the last 6 trading sessions
New Delhi: Shares of Adani Group companies have skyrocketed during the last six trading sessions.
The stock of Adani Enterprises, the flagship firm of the group, has gained about 70.8 per cent since February 28, adding 0.96 trillion to its market capitalisation (m-cap). The gain has taken the price of the stock to Rs 2039.7 and m-cap to 2.33 trillion at the end of Wednesdayís trading session.
During the same period, Adani Green Energy and Adani Wilmar added 34 per cent to their respective stock prices, followed by Adani Power (33.9 per cent), NDTV (33.8 per cent), Adani Ports & Special Economic Zone (26.8 per cent), Adani Transmission (21.2 per cent) and Adani Total Gas (20.4 per cent).
Meanwhile, all firms of the power-to-ports conglomerate closed higher on Wednesday, with the Adani Enterprises closing at a monthís high following a six-day gaining streak.
Some of the group stocks also hit their upper circuit levels after the group announced that it has repaid share-based financing of Rs 7,374 crore (over $900 million) and will prepay all such remaining loans by the end of the month.
The NSE and the BSE on Monday announced that the flagship Adani Enterprises will be moved out from the short-term additional surveillance measure (ASM) framework, which also bolstered the group stocks.
Adani Enterprises shares climbed 2.86 per cent to end at Rs 2,039.65 on the BSE to extend gains for a sixth day on the trot.
In addition, shares of Adani Ports and Special Economic Zone (APSEZ) spurted 3.22 per cent to settle at Rs 712.75. Adani Power closed higher at Rs 186.75, Adani Transmission at Rs 819.90, Adani Green Energy at Rs 619.60, Adani Total Gas at Rs 861.90 and Adani Wilmar at Rs 461.15.
