Adani Group shares make investors rich, will the company’s shares continue to rise? they know

Gautam Adani- India TV Paisa
Image: File Gautam Adani

Adani Group Stocks has made investors rich. We tell you that in the last seven days, Adani Group of Stocks has outperformed the Nifty 50. Bonanza Portfolio research analyst Vaibhav Vidwani said the group companies have delivered impressive returns ranging between 16 per cent and 63 per cent. He said that Adani Total Gas has gained more than 60 percent in the last seven days. The stock fell to an all-time high of 70.5% and is currently trading 73.65% below its 52-week high. Despite the big gains in the stocks of Adani group companies, the brokerage house believes that despite the rally after the recent state election results, there is plenty of scope for a big upside in the share values. This means we could see the stock rise further.

Adani Power and Adani Ports hit 52-week highs.

Adani Power and Adani Ports, two Adani Group companies, are near their 52-week highs during the period. Let us tell you that the combined market valuation (market cap) of the Adani group companies has increased to Rs 14.54 lakh crore on Wednesday due to a huge increase in the shares of the group companies. The rise in market capitalization comes as the group announced plans to invest $75 billion by 2030 in the energy transition. Share prices of 8 of the group’s 11 listed companies rose, with some gaining as much as 20 percent. Shares of three group companies fell. Shares of some companies hit 52-week highs during trading and had to make an upper circuit. Shares of Sanghi Industries, Adani Power and Adani Ports & SEZ hit 52-week highs. Shares of Adani Total Gas recorded the highest gain of 19.98 percent while Adani Green Energy recorded a gain of 16.11 percent. Shares of Adani Energy Solutions gained 7.36 percent and NDTV gained 7.07 percent.

After the Hindenburg report there was a big decline

The total market valuation of Adani group companies rose to around Rs 63,769 crore in the trading session. This is the first time that the group companies’ market capitalization has crossed the Rs 15 lakh crore mark after the sharp fall in February-March due to the Hindenburg report. In the Hindenburg report released in late January, the Adani Group was accused of rigging the companies’ share prices and financial irregularities. However, the group denied all these allegations. Vinod Nair, head of research at Geojit Financial Services, said there is optimism in the market after the state elections, which confirms policy continuity and meets investor expectations. Declining inflation and yields in both the US and Indian markets have led to strong FII inflows, he said.

Due to this also the Indian market has returned rapidly.

Indian markets rose after China’s credit rating downgrade and geopolitical tensions eased after falling oil prices. He said the power sector has been boosted by a strong bounce in IT on waning risks of a US recession and strong summer demand expectations. Despite the promising outlook, domestic premium valuation concerns could lead to short-term profit-taking, he said.

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