Adani Energy Solutions, Adani Green, Adani Total Gas, Adani Enterprises: 10 Adani shares gain up to 7%, add Rs 57,000 cr to group m-cap
Adani Energy Solutions Ltd,Adani Green Energy Ltd, Adani Total Gas Ltd and the Adani group flagship Adani Enterprises Ltd lead group gainers, rising 4-7 per cent.
Ten out of 10 listed Adani group stocks rallied up to 7 per cent in Thursday’s trade, adding nearly Rs 57,000 crore to their market capitalisation (m-cap), as the broader market recovered from Wednesday’s selloff. Adani Energy Solutions Ltd,Adani Green Energy Ltd, Adani Total Gas Ltd and the Adani group flagship Adani Enterprises Ltd lead group gainers, rising 4-7 per cent. New Delhi Television Ltd, Adani Ports and Special Economic Zone Ltd, ACC Ltd and Adani Wilmar Ltd also gained 2-3 per cent.The Adani group had lost Rs 1,12,785.55 crore in market capitlisation in the previous session. On Thursday, the group’s market value stood at Rs 15.28 lakh crore, up Rs 56,615.23 crore over Wednesday’s Rs 14,72,009.88 crore.
Shares of Adani Energy Solutions jumped 7 per cent to Rs 1,014.50 on BSE. Adani Green Energy shares were up 6.53 per cent at Rs 1,839.40. Adani Total Gas jumped 6 per cent to Rs 926.30. Shares of Adani Enterprises advanced 4 per cent to Rs 3,021.45 crore. NDTV (up 2.81 per cent), Adani Ports (up 2.74 per cent), ACC (up 2.72 per cent), Adani Wilmar (up 2.48 per cent) and Ambuja Cements (up 1.75 per cent) were other Adani group gainers.
Adani Power was up half-a-per cent at Rs 531.
Adani Green Energy (Rs 17,875.80 crore) added most to the group m-cap. Adani Enterprises (Rs 13,281 crore), Adani Energy Energy Solutions (Rs 7,468 crore) and Adani Ports (Rs 6,826 crore) also contributed to the rise in the group market value.
Improved credit rankings and banking leverage helped the Adani group execute key infrastructure projects, even as other firms in the same sector struggled, billionaire Gautam Adani said at a private event.
“To get good ratings, I tightened disclosure as well as our governance and benchmarked it to the international standard.” That helped the company increase exposure from Indian financial institutions to global, Adani said at the event.
“Today, we have a balanced portfolio of debt, with 29 per cent domestic banks, 30 per cent global banks, 34 per cent through global bonds and 7 per cent others,” Adani said.
In many ways, Adani Group has influenced the larger working culture in the infrastructure sector, he said adding that “The ‘chalta hai’ attitude of development in the infra space, with huge time and cost overruns, is being replaced by a new sense of purpose and urgency.
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