Adani Enterprises, Adani Ports & Adani Wilmar shares jump up to 9% today; here's why

Adani Group stocks were back under the spotlight on Monday on the back of multiple reasons. Select Adani stocks from the cash segment hit their upper circuit limits, while other stocks from the Gautam Adani-led conglomerate rose up to 9 per cent during the early trading session on Monday.

The Adani Group is reportedly considering the monetisation of select real estate assets deemed non-core to its operations. After identifying certain assets for potential sale, the group may expand the list to generate funds for its new real estate ventures, a report from The Economic Times suggested.

Earlier on Friday, the Supreme Court-appointed expert committee to look into regulatory failure by the Securities and Exchange Board of India (Sebi) and alleged breach of laws by the Adani Group. Sebi has informed the Supreme Court in its report that allegations of stock price manipulations or violation of norms by Adani group companies cannot be proved at this stage.

Shares of Adani Wilmar surged about 9 per cent to 441.95 on Monday, compared to its previous close at Rs 404 on Friday. Interestingly, the FMCG arm of Adani Group had gained about 20 per cent in the last two sessions as the stock had risen over 7 per cent in the previous session.

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Adani Enterprises, the flagship company of Adani Group, gained over 8 per cent to hit 2118.95. The company was commanding a market capitalization of more than Rs 2.4 lakh crore and extended its two-day gains to 15 per cent. The stock hit the Rs 2,000 mark after almost three months.
Adani Ports and Special Economic Zone (APSEZ) jumped 6 per cent to Rs 730.90 with market capitalization little shy of Rs 1.6 lakh crore mark. The stock is up 12 per cent in the last two sessions the data suggests.

Among the cash market stocks, Adani Power, Adani Total Gas, Adani Green Energy, Adani Transmission and New Delhi Television hit their respective upper circuit limits of 5 per cent, each. Adani Group acquired cement stocks including ACC and Ambuja Cements gained 3 per cent, each.

In January, US-based short seller Hindenburg Research alleged Adani Group of malpractices and manipulation of stock prices, fueling a ruckus. The report triggered a sharp sell-off in the shares of Adani Group companies and severely eroded the stock prices.

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