Adani Group stocks defy market trend, rally up to 10 per cent

Adani Ports and Special Economic Zone also zoomed 3.52% to close at Rs 847.55 and Adani Total Gas gained over 4% to close at 2,470.55.
Defying Tuesday’s slowdown, most Adani Group stocks rallied to new highs.
Defying Tuesday’s slowdown, most Adani Group stocks rallied to new highs.

NEW DELHI: Defying Tuesday’s slowdown, most Adani Group stocks rallied to new highs. Shares of flagship Adani Enterprises zoomed to an all-time high of Rs 2,198 while Adani Power touched a fresh high of Rs 232.9 on the BSE on Tuesday.

Adani Enterprises ended the trading session at Rs 2,141.85, up 3.69% while Adani Power shut shop by hitting 10% upper circuit at Rs 232.90 after reports said 32 lakh shares exchanged hands in a block deal.
Similarly, recently listed Adani Wilmar hit the upper circuit of 5% and closed the Tuesday session at a fresh high of Rs 580.20. Shares of Adani Green Energy touched an all-time high of Rs 2,208.75 and closed the session 3.86% higher at Rs 2,192.

Adani Ports and Special Economic Zone also zoomed 3.52% to close at Rs 847.55 and Adani Total Gas gained over 4% to close at 2,470.55. Adani Transmission was the only stock that closed flat at Rs 2,453.35. According to Forbes Real Time Billionaire Index, Gautam Adani, chairman of Adani Group and Asia’s richest billionaire, added a whopping $3.4 billion in his kitty on Tuesday, taking his net worth to $111.3 billion.

The surge took place even as Sensex fell 435 points to 60,176 and Nifty eroded 96 points to end Tuesday at 17,957. Prashanth Tapse, Vice President (Research), Mehta Equities, said, “Cautious market mood prevailed at Dalal Street as aggressive traders looked to book profits in HDFC twins which slipped around 2-3%. The negative takeaway was that Nifty ended on a negative note and most importantly, below the psychological 18000 mark. Hurting sentiments were also spiking oil prices to $103 a barrel.”

In the last one month
Adani Group Company stocks have seen tremendous buying. Adani Power has zoomed over 100% in one month while Adani Wilmar has surged over 70% during the same period.

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