Adani Group stocks, led by Gautam Adani, were trading higher on Tuesday, amid the broader market rally. All the 10 listed entities of Asia’s richest man were seen trading with firm gains of up to 4 per cent during the trading session.
Dalal Street’s benchmark indices shrugged off the initial weakness and recovered smartly, posting strong gains. BSE’s Sensex jumped more than 480 points to 60,578.70 as day’s high. NSE’s Nifty 50 index gained 135 points to kiss 18,030-level again.
Also Read-Air India fleet expansion: Tata-owned airline to order around 500 aircraft
Adani Green Energy, the largest Adani Group company in terms of marketcap, jumped more than 4 per cent to Rs 2183 on Tuesday. The scrip was settled at Rs 2093.30 on Monday after rising 10 per cent in the previous session. The company’s market capitalization stood at Rs 3.45 lakh crore.
Adani Power jumped more than 3 per cent to Rs 281.25 during the first half of the trading with a total valuation at Rs 1.08 lakh crore. Adani Power informed that the acquisition of DB Power has been extended to February 15, 2023 for the completion via a regulatory filing.
Also Read-ITR Filing for FY 2023-24: What is the best time of the year to plan your taxes?
Adani Transmission also posted similar gains of 3 per cent to Rs 2,778.80 and its marketcap raced past Rs 3 lakh crore mark. On Monday, Adani Transmission informed the exchanges about incorporation of a new wholly owned subsidiary named ‘Adani Transmission Step-Nine Limited’.
Among other Adani Group companies, Adani Total Gas, Adani Ports and Special Economic Zone and Adani Wilmar were trading higher, rising up to two per cent. Adani Enterprises also recouped the early cuts and was back in green at the time of writing the report.
Also Read-Budget 2023: New Tax Regime May See Exemptions
Adani Group’s flagship company Adani Enterprises has reportedly filed an offer letter with stock exchanges on Monday for a proposed Rs 20,000 crore follow-on public offer (FPO), suggest some media reports. Economic Times quoting sources suggested that the company is examining the possibility of launching the public issue in the last week of January.
Also Read-ITR Filing for FY 2023-24: What is the best time of the year to plan your taxes?
However, the newly acquired Asia’s richest man Gautam Adani, namely including ACC, Ambuja Cements and New Delhi Television were trading flat, marginally up.
