Adani Group Shares Settle Higher, Market Valuation Touch Rs 7.86 Lakh Crore

Adani Group firms maintained their winning run today, with all the ten listed entities ending in the positive territory.

Shares of Adani Transmission rallied 5 per cent, Adani Green Energy advanced 4.99 per cent, Adani Wilmar rose 4.99 per cent and Adani Power jumped 4.98 per cent.

Besides, shares of NDTV gained 4.96 per cent, Ambuja Cements (4.94 per cent) and Adani Total Gas (4.41 per cent) on the BSE.

Scrips of Adani Ports climbed 3.50 per cent, Adani Enterprises (2.69 per cent) and ACC (1.50 per cent).

The cumulative market valuation of the ten companies stood at Rs 7.86 lakh crore at the end of trade on Thursday.

In two trading sessions, the combined market valuation of the ten listed firms have climbed Rs 74,302.47 crore.

In the broader market, the BSE Sensex fell after a day’s breather and ended 501.73 points or 0.84 per cent lower at 58,909.35 points.

On Wednesday also, stocks of all the ten listed Adani Group firms ended with gains.

Adani Group stocks have taken a beating on the exchanges after US-based short seller Hindenburg Research last month 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.

On Thursday, the Supreme Court asked Sebi to probe within two months allegations of stock price manipulation by the Adani Group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by the US short seller.

Reacting to the court directions, Adani Group Chairman Gautam Adani said. “The Adani Group welcomes the order of the Hon’ble Supreme Court. It will bring finality in a time bound manner. Truth will prevail”.

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