On Thursday, the stocks of four Adani Group firms reached their 5% upper limit, extending the surge for the seventh day in a row. Shares of Adani Total Gas, Adani Green Energy, Adani Power, and Adani Transmission were up 5%, according to BSE data, and were locked in their upper circuits.
Adani Wilmar’s share price increased by more than 2%. It was trading at Rs. 472.65 per share as of 2:15 PM. The shares of NDTV, which is owned by the Adani Group, were also up more than 1% and were trading at Rs 245.10 on the BSE.
Nevertheless, Adani Enterprises’ share price fell 4.62 percent. Adani Ports and SEZ’s share price was also down almost 3% at Rs 692.30 as of 2:15 PM.
Why are Adani Group stocks rising rapidly?
The price of Adani stock started going up when the company started going on roadshows to show investors how strong its financials were.The worldwide roadshow started in Singapore and Hong Kong, then moved to Dubai and London before concluding in the United States.
Moreover, it was announced last night that Gautam Adani and his family have redeemed all debts secured by business shares.
GQG Partner, located in the United States, has invested more than Rs 15,000 crore in four Adani enterprises. It is expected to increase its stake in the company.
“Chances are we’ll definitely purchase more since we normally begin a position, and then depending on how things go and how the profits come, we tend to get it to full size because we’re not at full size at this moment,” says the company’s founder, Rajiv Jain.
With effect from today, the NSE has put Adani Enterprises, Adani Power, and Adani Wilmar within the short-term extra monitoring mechanism framework. This is done to safeguard investors from speculative trading.
