Adani Group stocks surge upto 4% after 3 group shares exit NSE’s short-term additional surveillance framework

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On Friday, Adani Enterprises shares rose Rs 41.50 or 2.25% to Rs 1884.10, Adani Power shares climbed Rs 4.00 or 2.01% to Rs 202.75, Adani Wilmar shares surged Rs 9.95 or 2.36% to Rs 430.90 and Adani Ports shares were up Rs 1.70 or 0.25% to 680.85.

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Adani Group stocks surged on Friday after the removal of Adani Enterprises, Adani Power, and Adani Wilmar from the National Stock Exchange’s short-term additional surveillance measures (ASM) framework from today.  The stocks were added to the framework eight days ago – two days after it was announced that Adani Enterprises would be excluded from the exchange’s ASM from the first time it was added. The decision to add the firms’ shares into the surveillance framework had come following the steep rise in the share price.

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Adani Enterprises shares rose Rs 41.50 or 2.25% to Rs 1884.10, Adani Power shares climbed Rs 4.00 or 2.01% to Rs 202.75, Adani Wilmar shares surged Rs 9.95 or 2.36% to Rs 430.90, Adani Ports shares were up Rs 1.70 or 0.25% to 680.85, Adani Transmission shares were up Rs 26.80 or 2.75% to Rs 1002.85, Adani Green Energy shares skyrocketed Rs 35.85 or 4.61% to 813.80, Adani Total Gas shares were up Rs 13.55 or 1.53% at 902.00, Ambuja Cements shares were up Rs 1.15 or 0.30% at 379.75, NDTV shares were up Rs 3.05 or 1.46% at 212.15 while ACC shares were trading flat at Rs 1752.

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Earlier this week, Adani Group said on the controversy revolving around Gautam Adani’s elder brother Vind Adani that he is part of the promoter group. “We would like to submit that Gautam Adani and Rajesh Adani are individual promoters of various listed entities within the Adani group and Vinod Adani is an immediate relative of the individual promoters,” the group’s flagship Adani Enterprises said in a stock exchange filing on Thursday. Accordingly, as per the applicable Indian regulations, “Vinod Adani is part of the ‘promoter group’ of various listed entities within the Adani group.”