Adani Enterprises, Adani Power, Adani Ports shares gain; group m-cap tops Rs 10,00,000 crore mark

Adani Enterprises Ltd, Adani Power Ltd, Adani Ports & SEZ and six other Adani group stocks gained in Wednesday's trade, with the group market capitalisation toppping the Rs 10 lakh crore mark amid a flury of news reports. Shares of Adani Enterprises jumped 3.74 per cent to Rs 2,367.10 a piece amid a media report suggesting 1.8 crore shares or 1.6 per cent stake worth Rs 4,130 crore changed hands on the counter earlier today. In the annual report of Adani Enterprises for 2022-23, Singh stated that the company's balance sheet is 'healthy' and it possesses industry-leading business development capabilities, robust governance, secure assets and strong cash flows.

"Once the market completely stabilises, the company will review its capital market strategy and remains confident in its capacity to sustain superior shareholder returns," Chief Financial Officer Jugeshinder Singh.

Adani Ports advanced 1.99 per cent to Rs 733.95.

Adani Power added 0.99 per cent to Rs 255.65, Ambuja Cements rose 1.28 per cent to Rs 439.40 while Adani Green Energy fell 2.39 per cent to Rs 937. A Business Standard report suggested that the market regulator Sebi is scrutinising certain dealings in the shares of the three Gautam Adani-led companies — Adani Power, Adani Green Energy and Ambuja Cements — for suspected breach of securities laws that relate to insider trading, citing two people familiar with the ongoing probe.

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Adani Power shares were in fact up for the third session as subsidiary Adani Power Jharkhand Limited (APJL) started the commercial operations of its second unit of its two 800 MW ultra-supercritical thermal power plant at Godda district in Jharkhand.

Shares of Adani Total Gas rose 1.37 per cent to Rs 649.45 on BSE. Adani Transmission gained 1.80 per cent to Rs 787.50 while Adani Wilmar added 1.28 per cent to Rs 411.70. ACC added 1.3 per cent while shares of NDTV edged 0.30 per cent higher. The market value of 10-listed Adani group companies climbed about Rs 14,200 crore to Rs 10.10 lakh crore from Rs 9.96 lakh crore on Tuesday.

The Adani group on June 26 said it operates a robust corporate governance framework and was strongly committed to following all applicable laws and regulations. The comments came amid reports of SEC probe. It cited expert SC-appointed committee's report that suggested that the group has taken mitigation measures such as paring down debt, fresh infusion, which led to increase in investor confidence.

"Sebi (Indian securities regulator) is examining certain aspects and their queries are being responded by Adani portfolio entities. We request to avoid needless speculation at this time and wait for SEBI and the Hon'ble Supreme Court to complete their work and submit their findings," it said.

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