At the conclusion of business on Tuesday, the aggregate market value of all Adani Group companies had risen to 13.91 lakh crore.
The Adani Group had a historic day in the stock market, with three businesses in the Gautam Adani-owned business conglomerate seeing record stock price increases of about 20%.
Adani Green Energy Ltd saw its shares rise 20% today after raising a $1.4 billion loan for a renewable energy project. A consortium of eight multinational banks, including BNP Paribas, Rabobank, DBS Bank Ltd, Mitsubishi UFJ Financial Group Inc., and Standard Chartered Plc, provided the senior debt facility.
Adani Green finished at 1348.00 a share on the BSE index, a 20% increase over the previous closing.
The groups, Adani Total Gas Ltd. and Adani Energy Solutions Ltd. closed at their highest level since January 31, leaving them only 16% shy of recouping losses from Hindenburg Research’s damning analysis earlier this year.
Adani Total Gas Ltd shares finished at 878.20, while Adani Enterprises Ltd shares closed at 2960.10. On the BSE, shares of Adani Power Ltd. (538.50) and Adani Ports & Special Economic Zone Ltd (1011.85) increased by more than 15%.
Adani Wilmar gained 9.93% to close at 380.70, ACC gained 8.20% to conclude at 2,185, and Ambuja Cements gained 7.22% to close at 508.70.
At the conclusion of business on Tuesday, the aggregate market capitalization of all 11 corporations had risen to 13.91 lakh crore. At the closing of trade on Monday, the valuation was about 11.98 lakh crore. As a result, the aggregate market valuation of all 11 corporations, including Sanghi Industries, increased by almost Rs.1.92 lakh crore on Tuesday.
What do analysts think about the recent spike in Adani stock?
According to Mukesh Jain, director of Maverick Share Brokers Pvt, “Arguments in India’s Supreme Court and the report of the US government’s view of Hindenburg have triggered a rally in these shares, while the overall market has been on a strong footing.” I believe this momentum will continue.”
According to Alok Churiwala, managing director of Mumbai-based Churiwala Securities Pvt, investor confidence has suffered as a result of the short-seller broadside, and there are concerns about their corporate disclosures.
“But the group has managed to allay investor concerns about the points raised by Hindenburg,” he went on to say.