New Delhi:
Shares of eight listed companies in the Adani Group ended up higher on Wednesday, with flagship Adani Enterprises ending a four-day losing streak by rallying more than 5 percent.
In the end, eight group companies finished in the green while the two made losses.
Adani Enterprises Ltd (AEL) shares rose 5.81 per cent to Rs 1,838.80 apiece on the BSE. On the day, the scrip hit a daily high of 1,891.10 rupees, or 8.83 percent. Its market valuation rose to Rs 2.09 lakh crore.
The flagship company paused its downtrend for the past four trading sessions amid stock market volatility.
Adani Ports and Special Economic Zone (APSEZ) rose 3.81 per cent to Rs 679.10, Adani Transmission rebounded 3.27 per cent to Rs 931 and Ambuja Cements rose 3.28 per cent to Rs 364.95 in the stock market .
In addition, shares of Adani Green Energy rose 4.94 percent to Rs.740.95, Adani Wilmar rose 3.12 percent to Rs.426.70 and NDTV rose 0.85 percent to Rs.212.85. These companies’ scrips reached their upper price bands on the BSE.
Also, ACC gained 0.11 to Rs 1,740.40 per share.
On the other hand, shares of Adani Total Gas fell 3.05 per cent to close at Rs 918.85 and Adani Power fell 1.27 per cent to close at Rs 202.15 on the stock exchange. The shares of these companies also reached their respective lower price bands on the BSE.
The 30-stock BSE Sensex plunged 344.29 points, or 0.59 percent, to close at 57,555.90 points. The broader NSE Nifty fell 71.15 points, or 0.42 percent, to 16,972.15.
Shares of all 10 listed companies in the Adani Group closed lower on Tuesday, with flagship Adani Enterprises falling over 7 percent on a weak trend in stock markets.
After taking a hit in the stock markets following a report by US-based short seller Hindenburg Research, the group’s shares had rallied. However, amid sluggish broader market trends, the group’s shares have fallen over the past few trading sessions.
The report had leveled a litany of allegations against him, including fraudulent transactions and stock price manipulation.
The group has denied the allegations as lies and said it complies with all laws and disclosure requirements.
(Except for the headline, this story was not edited by NDTV staff and was published by a syndicated feed.)
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group company.)
