Adani Green, Adani Ports Lead Adani-Stocks Rally As Benchmarks Trade Flat
The 11 stocks of the ports-to-power conglomerate added as much as Rs 39,068 crore to investors' wealth, and market cap between them rose to Rs 12.68 lakh crore.
Shares of Adani Group-owned companies outperformed the benchmark indices in the final trading hours on Thursday. All the stocks were trading in the green, with the renewable energy company Adani Green Energy Ltd. surging 4%, while Adani Ports and Special Economic Zone Ltd. and Adani Energy Solutions Ltd. also posted gains over 3%.
The 11 stocks of the ports-to-power conglomerate added as much as Rs 39,068 crore to investors' wealth, and market cap between them rose to Rs 12.68 lakh crore. As of 02:29 p.m., shares of the group pared gains and the market cap was up by Rs 32,067 crore at Rs 12.61 lakh crore.
This development comes on the heels of the 100th commercial vessel docking at Vizhinjam port in under six month, as emphasised by Karan Adani, managing director of Adani Ports & Special Economic Zone, in a post on microblogging platform X.
Adani Green outperformed all other stocks, with 4.10% gains at Rs 1,073.30 per equity share. Adani Ports And SEZ was a close second, trading 3.98% higher at Rs 1,229.30. Adani Energy Solutions also followed the trend, trading 3.57% up at Rs 798.80 as of 02:17 p.m.
Adani Power was also up nearly 3%, while Ambuja Cements, Adani Total Gas, and Sanghi Industries also posted gains of over 1%.
In November, Adani Ports handled the highest 396 vessels, and 845 vessel movements at its Mundra Port, marking the highest monthly record.
Meanwhile, Sensex was flat at 78,988.05 and Nifty was up 18.10 points or 0.08% at 23,745.75 in the last hour of trade, as of 02:49 p.m.
