Adani Group Firms' Combined Market Valuation Jumps Rs 1.78 Lakh Crore In 2 Days

Adani Group Firms' Combined Market Valuation Jumps Rs 1.78 Lakh Crore In 2 Days

Adani Group companies collectively added Rs 1,78,598.41 crore to their market valuation over a two-day period.

New Delhi:

On Monday, Adani Group firms continued their upward trajectory, accumulating Rs 1.78 lakh crore in market valuation across two days, driven by substantial buying interest following the Securities and Exchange Board of India's (Sebi) exoneration in the Hindenburg investigation.

The regulatory body's ruling, which rejected allegations regarding stock price manipulation and improper related-party transactions, has generated positive investor sentiment, causing Adani stocks to rise dramatically for two consecutive trading sessions.

Adani Power shares surged 19.99 percent, reaching their upper circuit limit of Rs 170.15 per share on the BSE.

Similarly, Adani Total Gas shares soared by 19.87 percent, while Adani Green Energy increased 11.75 percent, Adani Energy Solutions rose 6.94 percent, and Adani Enterprises climbed 4.24 percent. Other group companies also posted gains, with Ambuja Cements up 1.43 percent, Adani Ports increasing by 1.17 percent, NDTV advancing 1.12 percent, and ACC rising 0.30 percent.

Collectively, these companies added Rs 1,78,598.41 crore to their market capitalization over the two-day period.

The stock rally followed Sebi's Thursday announcement concluding its investigation, wherein the regulator stated it found no substantiating evidence for the accusations made by US-based short seller Hindenburg Research in early 2023.

On Friday as well, Adani group stocks finished higher, with Adani Power recording an increase exceeding 12 percent.

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