Shares of Adani Group companies gained on Thursday, with Ambuja Cements Ltd. leading the rally with a 2.77% advance.
ACC Ltd., Adani Power Ltd. and Adani Green Energy Ltd. rose over 1%, while New Delhi Television Ltd., Adani Wilmar Ltd., Adani Total Gas Ltd., Adani Energy Solutions Ltd., and Adani Ports and Special Economic Zone Ltd. saw marginal gains.
The only outlier in the advance was the group's flagship Adani Enterprises Ltd., whose scrip closed lower. The company's shares jumped as much as 3% during the day before paring gains.
Adani Group stocks added Rs 9,282.5 crore to investor wealth, taking their total market capitalisation to approximately Rs 10.1 lakh crore.
Adani Enterprises reported a net profit of Rs 333 crore for the second quarter of fiscal 2024. Net profit was at Rs 432 crore for the same period last year, according to its exchange filing.
Revenue was down 41% at Rs 22,517 crore year-on-year, while earnings before interest, taxes, depreciation, and amortisation was up 29.9% at Rs 2,430 crore.
Adani Power Ltd.'s consolidated net profit for the quarter ended September rose more than nine times on the back of a one-time gain and higher sales.
The company's net profit rose to Rs 6,594 crore in the quarter ended September as compared with Rs 696 crore a year ago, according to an exchange filing.
The S&P BSE Sensex closed 490 points up, or 0.77%, at 64,080.90, while the NSE Nifty 50 ended 144 points, or 0.76%, higher at 19,133.25.
Disclaimer: AMG Media Networks Ltd. (AMNL) currently owns 49% stake in Quintillion Business Media Ltd. (QBML), the owner of BQ Prime Brand. AMNL has entered into an MOU to acquire the balance 51% stake in QBML. Post acquisition, QBML will become a wholly owned subsidiary of AMNL.
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