The market capitalization of the Adani Group surged by nearly 47,000 crore in a single day as a result of rising shares in listed companies.
After the group promoter business expanded its shareholding in two of the group’s listed firms, the market capitalization (m-cap) of all 10 equities in the group grew by more than 47,000 crore in a single day, resulting in healthy gains for the Adani Group’s shares on Monday.
Adani Ports shares increased 7.10% on the NSE, while Adani Enterprises shares, the group’s flagship company, increased 3.68%.
Shares of Adani Power continued to be the leading gainer among the group companies, rising 8.90%. The other group stocks ended in the following order: NDTV (up 5.14%), Adani Energy Solutions (up 5.02%), Adani Wilmar (up 2.61%), Ambuja Cements (up 2.47%), Adani Total Gas (up 2.09%), Adani Green Energy (up 1.78%), and ACC (up 1.42%).
After the promoter group disclosed in stock exchange filings that it had boosted its shareholding in flagship Adani Enterprises to 71.93% from 69.87%, all of these stocks surged. Infinite Trade and Investment Ltd. and Kempas Trade and Investment Ltd. purchased the shares.
The promoters have increased their share in the flagship company for the second time in less than a month. The promoters’ ownership in Adani Enterprises Ltd. climbed from 67.65 to 69.87 percent last month. They are both promoter group companies.
The promoter group said that it has increased its ownership of Adani Ports and Special Economic Zone Ltd from 63.06 percent to 65.23 percent in a separate stock exchange filing.
In open market transactions, Resurgent Trade and Investment Ltd and Emerging Market Investment DMCC each purchased roughly 1% of Adani Ports and Special Economic Zone Ltd. They are both promoter group companies.
Also Read: SpiceJet and Ajay Singh are required by the Delhi High Court to pay Maran’s debt by tomorrow
