Adani group firms’ shares were in the spotlight on Tuesday, rallying up to 10% on the BSE in intraday trade in an otherwise tumultuous market. On the BSE, Adani Green Energy (up 10% at Rs.1,089.15), Adani Total Gas (up 5% at Rs.662.45), and New Delhi Television (up 5% at Rs.238.75) were all locked at their maximum upper circuit filters.
Furthermore, Adani Power, Adani Transmission, ACC, Adani Wilmar, and Ambuja Cements all climbed between 4% and 8%. Adani Enterprises, Adani Ports, and Adani Special Economic Zone were also up 1%. At 02:51 PM, the S&P BSE Sensex was up 0.07 percent at 66,433.
Three of the group’s publicly traded companies, Adani Enterprises, Adani Green Energy, and Adani Transmission, want to raise Rs.33,000 crore through qualified institutional placements (QIPs) by the end of the fiscal year.
Adani Group intends to sell 90% of its financial services business to private equity company Bain Capital for Rs.1,440 crore. According to the report, Bain Capital will invest an extra Rs.1,000 crore in the company after acquiring Adani’s stake.
The Maharashtra government last week approved the award of the Dharavi redevelopment project to the Adani group, which would require an investment of Rs.20,000 crore. In addition, the group is establishing a copper smelter and a PVC project.
On the BSE, Adani Green Energy hit a five-month high of Rs.1,089, which was stuck at a 10% upper circuit. The stock had reached its peak since February 2, 2023. Average trading volumes on the counter had more than quadrupled, with a total of 4.2 million shares changing hands in trades thus far, and there were pending buy orders for approximately 390,000 shares on the NSE and BSE.
Also Read: https://clipper28.com/en/summer-theatre-camp-first-of-its-kind-at-haflong-concludes/
