Adani Green Shares Surge Over 14%; Adani Total Up Nearly 9% As Group Stocks Rally
During trade on Wednesday, all of the Adani Group stocks were trading higher
Shares of Adani Green rose over 14% on Wednesday. The scrip leads the pack with the most gains as Adani stocks rally in trade. Adani Total also closely follows these gains, as it rose nearly 9% intraday.
Adani Green has marked gains of nearly 6% in the last six trading session, also clocking over 7% gains during this month. Adani Total Gas has gained nearly 5% in the last six trading session, while the scrip has marked over 3.47% gains in the month.
Adani Green rose as much as 14.02% to Rs 1,145 apiece. It pared gains to trade 10.32% higher at Rs 1,107 apiece, as of 12:17 p.m. This compares to a 0.48% advance in the NSE Nifty 50 Index.
It has risen 6.70% year to date. Total traded volume so far in the day stood at 6.2 times its 30-day average. The relative strength index was at 39.43.
Out of seven analysts tracking the company, six maintain a 'buy' rating, and one suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 11.7% on Wednesday.
During trade on Wednesday, all of the Adani Group stocks were trading in the green. Both Adani Green and Adani Total led gains with over 145% gains.
Adani Energy was trading nearly 7% higher, while names like Adani Enterprises and Adani Ports were trading over 4% and 3% respectively. These gains compare to a 0.48% gain in the benchmark index Nifty 50 as of 12:20 p.m.
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