A surge in the share price of all the Adani Group companies led the ports-to-power conglomerate's market capitalisation to rise over Rs 62,000 crore on Thursday.
The rally in the conglomerate's stocks was led mainly by the overall surge in the markets and the likely inclusion of the flagship firm, Adani Enterprises Ltd., in the S&P BSE Sensex during its semi-annual review.
Inclusion of the flagship company will attract a net inflow of up to $118 million, IIFL Alternate Research said in a report. Similarly, the semi-annual review of the BSE 100 could see the inclusion of three Adani stocks: Adani Green Energy Ltd., Adani Power Ltd., and Adani Green Energy Solutions Ltd.
Adani Group stocks added as much as Rs 77,962 crore in investor wealth, taking their total market capitalisation to Rs 17.37 lakh crore, intraday. At 3:30 p.m., the shares added Rs 62,109 crore in market value, taking the market capitalisation to Rs 17.21 lakh crore.
The surge was led by Adani Enterprises and New Delhi Television Ltd., which rose by 7.84% and 7.64%, respectively.
The markets surged to an all-time high on Thursday on multiple triggers. The NSE Nifty 50 gained 395.80 points, or 1.75%, to a record high level of 22,993.60, while the S&P BSE Sensex rose 1,278.85 points, or 1.72%, to a fresh high of 75,499.91.
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