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Business / Fri, 31 May 2024 CNBCTV18

Adani Group stocks surge up to 6%, add nearly ₹60,000 crore in market cap

NSEStock Returns Adani Enterprises 6% Adani Ports 4% Adani Green 3% Adani Total Gas 6% Adani Power 3.2% Adani Energy Solutions 2.7% Adani Wilmar 2.2% ACC 2% Ambuja Cements 2.4% NDTV 6.3%Shares of Adani Group companies from Adani Enterprises Ltd., to Adani Ports Ltd. are trading with gains of up to 6% on Friday. All 10 group companies are trading with gains.With Friday's surge, the group has added nearly ₹56,000 crore in market capitalisation, taking the overall group market capitalisation to ₹17.7 lakh crore. The number is still below the Pre-Hindenburg high of ₹24 lakh crore.Three group companies - Adani Enterprises, Adani Ports and Adani Green Energy currently have a market capitalisation in excess of ₹3 lakh crore.Adani Enterprises recently became the latest group stock to recover all the losses it made during the Hindenburg saga. The stock rebounded from lows of ₹1,017.In a note released on May 30, brokerage firm Jefferies said that Adani Enterprises is in the midst of scaling its captive manufacturing capacity towards starting Green Hydrogen production by financial year 2027. It also expects the Navi Mumbai airport to be commissioned by the fourth quarter of the current financial year.In a business roadmap released recently, Adani Ports intends to grow its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at a Compounded Annual Growth Rate (CAGR) of 18% over financial year 2024 - 2029.Adani Green has also raised its 2030 power capacity target to 50 GW from 45 GW, which will also include 5 GW of pumped hydro.Adani Enterprises is the top gainer on the Nifty 50 index on Friday, currently trading with gains of 6%.

NSE

Stock Returns Adani Enterprises 6% Adani Ports 4% Adani Green 3% Adani Total Gas 6% Adani Power 3.2% Adani Energy Solutions 2.7% Adani Wilmar 2.2% ACC 2% Ambuja Cements 2.4% NDTV 6.3%

Shares of Adani Group companies from Adani Enterprises Ltd., to Adani Ports Ltd. are trading with gains of up to 6% on Friday. All 10 group companies are trading with gains.With Friday's surge, the group has added nearly ₹56,000 crore in market capitalisation, taking the overall group market capitalisation to ₹17.7 lakh crore. The number is still below the Pre-Hindenburg high of ₹24 lakh crore.Three group companies - Adani Enterprises, Adani Ports and Adani Green Energy currently have a market capitalisation in excess of ₹3 lakh crore.Adani Enterprises recently became the latest group stock to recover all the losses it made during the Hindenburg saga. The stock rebounded from lows of ₹1,017.In a note released on May 30, brokerage firm Jefferies said that Adani Enterprises is in the midst of scaling its captive manufacturing capacity towards starting Green Hydrogen production by financial year 2027. It also expects the Navi Mumbai airport to be commissioned by the fourth quarter of the current financial year.In a business roadmap released recently, Adani Ports intends to grow its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at a Compounded Annual Growth Rate (CAGR) of 18% over financial year 2024 - 2029.Adani Green has also raised its 2030 power capacity target to 50 GW from 45 GW, which will also include 5 GW of pumped hydro.Adani Enterprises is the top gainer on the Nifty 50 index on Friday, currently trading with gains of 6%.

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