Shares of four Adani Group companies - Adani Green Energy, Adani Transmission, Adani Power and Adani Wilmar - jumped in early trade today after BSE and NSE increased their circuit limits
Adani Green share price jumped nearly 2% in early deals to hit an intraday high of Rs 1,010 on NSE. Adani Transmission share price rose more than 3% to an intraday high of Rs 845 on NSE
Adani Power share price jumped more than 4% on Wednesday to touch an intraday high of Rs 281. Adani Wilmar shares also jumped 3% to an intraday high of Rs 442 on NSE today
The NSE and BSE have raised the circuit limits for the four Adani group stocks in order to facilitate higher trading activity. The adjustments, which will be effective today will ensure that the price of the stock cannot go either higher or downward above a limit specified for the day, as per NSE circular
The circuit limits have been changed for Adani Green Energy, Adani Transmission, and Adani Wilmar to 10% from 5%. Adani Power will benefit the most as the circuit limit for the stock has been raised from 5% to 20%
Shares of Adani Transmission and Adani Wilmar closed previous session at Rs 816.25 and Rs 429.65, respectively, with a 1% drop. Adani Green Energy shares closed 0.4% higher at Rs 991.85, while Adani Power shares finished 1.4% higher at Rs 263
The circuit limit for Adani Transmission, Adani Green Energy, and Adani Total Gas was reduced in January by BSE and NSE, following the allegations made against the company by US-based Hindenburg Research
Hindenburg had accused Adani Group with stock manipulation and fraud. Following the damning report, Adani stocks started free-falling. The decision to lower circuit limit of the 4 stocks was made after the they took a significant beating
Stock Exchanges examine circuit restrictions on a regular basis while keeping an eye on the volatility and movement of equities. This evaluation includes adjustments to circuit limits
Meanwhile, Adani Group on Tuesday said it has delivered a "record-breaking performance" across its portfolio of companies in FY23. The conglomerate said it has recorded its highest ever EBITDA at group portfolio level of Rs 57,219 crore, achieving a 36% growth in FY23 over the previous financial year
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