Adani Group stocks soar up to 13% on higher volumeslive bse livense live Volume Todays L/H More ×Adani Group firms' shares surged on May 31 amid heightened trading activity, bucking the trajectory of the benchmark indices.
Adani Total Gas surged by 10 percent, while Adani Power climbed to 13 percent and Adani Energy Solutions was trading nearly 3 percent higher.
Adani Green Energy shares rose by 4.4 percent, while Adani Wilmar, Ambuja Cements, and ACC recorded gains 3.6 percent, 2 percent and 2 percent, respectively.
All 10 Adani Group stocks surged on Friday, collectively gaining Rs 84,283 crore in market capitalization (mcap).
Recently, Snowcap Research warned that Adani Green Energy, part of Gautam Adani's conglomerate, risks missing growth targets without a share issue to bolster finances.
Adani Group stocks soar up to 13% on higher volumes
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Adani Group firms' shares surged on May 31 amid heightened trading activity, bucking the trajectory of the benchmark indices.
At 1440 hours on May 31, shares of Adani Enterprises soared by more than 7 percent, while Adani Ports & SEZ saw a gain of 4 percent. Adani Total Gas surged by 10 percent, while Adani Power climbed to 13 percent and Adani Energy Solutions was trading nearly 3 percent higher. Adani Green Energy shares rose by 4.4 percent, while Adani Wilmar, Ambuja Cements, and ACC recorded gains 3.6 percent, 2 percent and 2 percent, respectively. NDTV's shares rose 9 percent.
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Meanwhile, India’s benchmark Sensex and Nifty indices were volatile ahead of the outcome of national elections. At 1435 hours, Sensex was trading 43 points lower while Nifty was down 8 points.
All 10 Adani Group stocks surged on Friday, collectively gaining Rs 84,283 crore in market capitalization (mcap). This rise was attributed to general market optimism following the re-election of the incumbent Bharatiya Janata Party government for a third term.
Recently, Snowcap Research warned that Adani Green Energy, part of Gautam Adani's conglomerate, risks missing growth targets without a share issue to bolster finances. With falling return targets and rising debt costs, Adani Green could struggle to fund its 2030 renewable energy goal, the researcher said.
Snowcap estimated that Adani Green can only cover half its funding needs without additional capital and will likely deliver 11-12% returns instead of the 17% target announced in 2021. Adani Green refuted these claims as baseless and factually inaccurate. Adani Green's shares fell initially but recovered some losses.
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