Six Adani group stocks end higher; two firms hit upper circuit

NewsDrum Desk
16 Mar 2023

New Delhi, Mar 16 (PTI) Stocks of six Adani group companies out of the ten listed entities ended in the green territory on Thursday amid a positive trend in the broader equity markets.

At the end of the session, the six group firms were settled in the green, while four closed in the red.

The shares of Adani Green Energy spurted 5 per cent to settle at Rs 777.95, and Adani Transmission climbed 4.84 per cent to close at Rs 976.05 on the BSE. The scrips of these companies hit their upper price bands on the exchange.

The market valuation of Adani Green Energy increased by Rs 5,860.92 crore to Rs 1.23 lakh crore, and that of Adani Transmission jumped by Rs 5,025.29 crore to Rs 1.08 lakh crore.

Ambuja Cements climbed 3.74 per cent to close at Rs 378.60, ACC rose 0.73 per cent to settle at Rs 1,753.15, and Adani Ports and Special Economic Zone (APSEZ) ended on a flat note at Rs 679.15 each share.

Also, the shares of flagship firm Adani Enterprises Ltd (AEL) gained 0.21 per cent to settle at Rs 1,842.60 apiece on the bourse.

However, shares of Adani Total Gas plunged 3.31 per cent to close at Rs 888.45, NDTV declined 2.31 per cent to end at Rs 209.10, Adani Power dived 1.68 per cent to close at Rs 198.75 and Adani Wilmar fell 1.35 per cent to settle at Rs 420.95 each share on the BSE.

The 30-share BSE Sensex gained 78.94 points or 0.14 per cent higher to settle at 57,634.84 points. The broader NSE Nifty rose 13.45 points or 0.08 per cent to end at 16,985.60.

On Wednesday, shares of eight listed Adani group firms settled with gains, with flagship company Adani Enterprises snapping four-day losing run by rallying more than 5 per cent.

After taking a beating on the bourses, following the report by US-based short seller Hindenburg Research, the group stocks had recovered. However, amid sluggish broader market trends, the group's stocks have declined in the last few trading sessions.

The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it.

The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. PTI HG HG BAL BAL

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