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8 Adani Group firms shine, two underperform; Adani Enterprises jumps 13 per cent

8 out of 10 listed Adani Group firms saw an upward trend on BSE while, two remained in red zone.

Raju Kumar Edited By: Raju Kumar @rajudelhi123 Mumbai Published on: February 08, 2023 12:33 IST
Adani Group's shares rebound on BSE trade
Image Source : FILE Adani Group's shares rebound on BSE trade

Amid a political slugfest between Opposition parties and the ruling Bharatiya Janta Party (BJP), shares of most of the Adani group firms gained in late morning trade on Wednesday. The flagship company Adani Enterprises jumbed by 13 per cent.

Eight Adani Group firms were trading in the positive territory while two were in the red. The scrip of Adani Enterprises zoomed 13.07 per cent to Rs 2,038 apiece on the BSE, and its market capitalisation rose to Rs 2.32 lakh crore.

Adani Ports

Adani Ports and Special Economic Zone jumped 7.24 per cent to Rs 593.35 per share, with market valuation at Rs 1.28 lakh crore.

Adani Transmission
Adani Transmission increased 5 per cent to Rs 1,314.25, Adani Power went up 4.99 per cent to Rs 182 and Adani Wilmar surged 4.99 per cent to Rs 419.35. These shares reached their upper price band.

NDTV went up 3.94 per cent to Rs 225.50, Ambuja Cements rose 1.15 per cent to Rs 388.10 and ACC gained 0.43 per cent to Rs 2,004. 

Two companies underperformed
Out of the ten listed companies of the Adani Group, two were in the red -- Adani Total Gas slumped 5 per cent to touch the lower price band of Rs 1,394.15, and Adani Green Energy fell 1.59 per cent to Rs 829.80.

In the late morning session, the 30-share BSE Sensex climbed 350.16 points or 0.58 per cent to 60,636.20 points.

On Tuesday, six of the group companies closed in the green while four were in the red. The combined market valuation of the group's ten listed companies has eroded by around Rs 9.2 lakh crore in the last 10 trading sessions starting from January 24, the day when the US-based short-seller Hindenburg Research came out with its adverse report.

Adani group, on Monday, said the promoters will pre-pay USD 1,114 million for the release of pledged shares of its firms ahead of the maturity in September 2024. These shares belong to Adani Ports & Special Economic Zones, Adani Green Energy and Adani Transmission.
(With PTI input)

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