Adani Stocks Add Rs 62,731 Crore To Investor Wealth As Blockbuster Rally Continues
Multiple triggers including Supreme Court's observations, US funding for its port and market-wide optimism are driving the stocks.
Shares of most Adani Group surged as multiple triggers including the Supreme Court's observations, US funding for its port and market-wide optimism drive the conglomerate's stocks.
Adani Total Gas Ltd. led the gains as the stock was locked in 20% upper circuit limit towards the end of the session, while Adani Green Energy Ltd ended 15.94% higher.
New Delhi Television Ltd. became the fourth group stock to scale pre-Hindenburg levels after Adani Ports and Special Economic Zone Ltd., Adani Power Ltd., and Ambuja Cements Ltd.
Meanwhile, three stocks of the group erased their morning gains. ACC Ltd. ended 2.6% lower, Adani Enterprises Ltd. declined 2.6%, and Ambuja Cements fell 1.6% at close.
The group made investors richer by as much as Rs 1.43 lakh crore in morning trading with its market capitalisation hitting as high as Rs 15.29 lakh crore.
As of 03:30 p.m., the group shares had added Rs 62,731 crore to investor wealth at a market capitalisation of Rs 14.48 lakh crore.