Adani stocks rally up to 18%; group m-cap hits pre-Hindenburg level

Adani Group stocks hogged the limelight during the trading session on Monday as the Gautam Adani-led conglomerate recovered its entire market cap erosion post the damning report by the Hindenburg Research, where it saw a wealth crash of about $100 billion across all the listed entities.

The total market capitalisation of all the 10 listed Adani Group stocks stood at above 20.01 lakh crore mark in the early session on Monday. However, the total market capitalization of the Adani Group firm stood at Rs 19.20 lakh crore at their close on January 24, 2023, when Hindenburg's report was made public.

Barring a few names like Adani Energy Solutions, Adani Wilmar and New Delhi Television (NDTV), all other Adani Group companies have raced past their individual market capitalization. However, NDTV is slightly below its all-time highs, but other two Adani Group companies have to rebound 100-120 per cent to recover their all losses.

Recently, Gautam Adani pipped Reliance Industries' Mukesh Ambani to once again become the richest person in Asia. His total wealth swelled more than $30 billion in the year 2024 so far, making him the 11th richest man on the planet with a cumulative wealth of $111 billion, according to the Bloomberg Billionaire Index.

On a Individual basis, Adani Power Ltd was the top gainer as it surged about 18 per cent to Rs 890.40 on Monday, commanding a total valuation of more than Rs 3.43 lakh crore. Adani Ports, the upcoming inclusion in the BSE Sensex, rose about 12 per cent to Rs 1,607.95 with a market valuation of more than Rs 3.47 lakh crore. Both the stocks scaled their new highs.

Adani Enterprises Ltd, the flagship company of the Adani Group rose about 10 per cent to Rs 3,743 with a total mcap of more than Rs 4.26 lakh crore. Adani Energy Solutions, formerly known as Adani Transmission Ltd, Adani Green Energy and Adani Total Gas were also up to 10 per cent each.

Adani Wilmar rose more than 7 per cent in the initial session, while acquired cement companies- Ambuja Cements and ACC jumped 5 per cent each. NDTV advanced more than 11 per cent the day.