All ten Adani Group companies, Adani Enterprises, Adani Ports, Adani Transmission, Adani Green Energy, Adani Total Gas, Adani Wilmar, Adani Power, ACC, Ambuja Cements and NDTV were trading higher on Friday. Due to this boom, the market cap of Gautam Adani’s listed companies crossed Rs. 11 lakh crore has been crossed.
The Adani group shared hit headlines on Dalal Streets amid media reports that Abu Dhabi National Energy PJSC (TAQA) is looking to double its business in India and is evaluating a major investment in Gautam Adani’s power business, which spans from thermal generation to transmission. Clean energy and green hydrogen.
Adani Power showed power
Following the news, shares of Adani Power rose over 12 percent on Friday to Rs. 321, with a total market capitalization of Rs. was more than 1.2 lakh crore. On the other hand, Adani Green Energy, Rs. With a total market cap of over Rs 1.6 lakh crore, it jumped nearly 10% during the day.
Adani Enterprises also surged
Adani Group’s flagship Adani Enterprises grew over 7 percent to take its total market cap to Rs. 3 lakh crore taken below. Adani Ports and Special Economic Zone, another blue-chip stock of the Adani Group, rose nearly 5 percent to Rs. It had a market cap of over 1.8 lakh crore.
Adani Energy Solutions also got wings
Adani Energy Solutions rose nearly 9% to a market valuation of Rs. 1 lakh crore, while Adani Total Gas rose 7% to a total mcap of Rs. 75,000 crore was reached. Adani Wilmar also gained 7 percent and was once again valued at Rs. 50,000 crore was crossed.
NDTV also climbed, ACC-Ambuja Cement also strong
Adani Group’s cement companies ACC and Ambuja Cements rose over 3 percent during Friday’s trading session, while its media and broadcasting arm New Delhi Television (NDTV) rose over 5 percent.
Investors’ confidence returned
TAQA, one of the largest integrated utilities in Europe, the Middle East and Africa and the second largest stock on the Abu Dhabi Securities Exchange (ADX), plans to invest $1.5-2.5 billion in Adani Group companies, according to media reports. Eager However, as reported by news agency Bloomberg, TAQA has mentioned that there is ‘no truth’ to the alleged deal with the Adani group.
Rajiv Jain-led GQG Partners is interested in Adani Group companies and has invested in them since May. Earlier this week, US-based boutique investment firm GQG Partners raised Rs. 9,000 crore ($1.1 billion) to buy 312 million equity shares of Adani Power.
Investors ignoring the Hindenburg report
Now investors are ignoring the Hindenburg report on investments in Adani group companies. Adani Power was the fourth entity from Gautam Adani’s port-to-energy group to enter GQG’s portfolio after Adani Enterprises, Adani Green Energy and Adani Transmission.
Adani Group shares have been on investors’ radar ever since the Hindenburg Research report was released in January this year. Shares of Adani group companies have fallen 75 percent in two months. American short seller company Hindenburg accused Adani Group of manipulation and misconduct in its report.