Shares of Adani Group rose up to 4% in the afternoon session today as an expert panel constituted by Supreme Court to investigate the Adani Group said at this stage, it is not possible to conclude that there was a regulatory failure on the price manipulation allegation.
Adani Enterprises stock rose up to 3.92% to Rs 1962 against the previous close of Rs 1888.05 on BSE. However, the stock is down 49 per cent this year. In a year, the Adani Enterprises stock has lost 7.41%. Adani Enterprises stock opened marginally higher at Rs 1892 against the previous close of Rs 1888 on BSE.
Adani Enterprises’ market cap rose to Rs 2.22 lakh crore in the afternoon trading session. Total 2.24 lakh shares changed hands amounting to a turnover of Rs 42.78 crore on BSE.
Other Adani Group stocks except Adani Total Gas also rose up to 4% in the afternoon session today. While, shares of Adani Wilmar gained 4.3% to Rs 394.35, Adani Ports stock gained 2.75% to Rs 682.20 against the previous close of Rs 663.90 on BSE.
Energy major Adani Green Energy stock rose to Rs 892, up 3.54% from the previous close of Rs 861.50 on BSE.
Also Watch: How Adani Group listed companies' net debt has ballooned in last 5 years
Adani Power shares too climbed 4.13% to Rs 234.4 against the previous close of Rs 225.10 on BSE. Stock of Adani Transmission rose 2.20% to Rs 767.90 against the previous close of Rs 751.35 in the afternoon trade.
However, shares of Adani Total Gas were still stuck in the lower circuit of 5% at Rs 633.35 on BSE.
The panel said it was not possible to conclude if there has been regulatory failure regarding price manipulations, according to a court filing seen by Reuters.
Securities and Exchange Board of India (Sebi) has drawn a blank in its probe regarding the groups entities' ownership, the court committee said in the report.
SEBI in a petition filed on April 29, had sought six months to complete its probe, following a court order on March 2 that gave the regulator two months to submit its report.
Watch: India's first Defence Fund NFO opens; what is it and where will it invest? Check details
Also read: LIC, ICICI Pru Life, HDFC Life, SBI Life: Which life insurance stock to buy now?