Shares of Adani Enterprises and Adani Green Energy have recovered over 129% and 114.5% from their 52-week lows respectively
Shares of Adani Ports and Special Economic Zone and Adani Power have recovered over 85% and 87% from their 52-week lows respectively
Shares of Adani Transmission, Ambuja Cements, and Adani Wilmar have also recovered over 30% while Adani Total Gas and ACC stocks are up 14% from recent lows
The rally in Adani Group stocks comes amid reports that Adani Group is considering the monetisation of select real estate assets deemed non-core to its operations
Shares of Adani Power, Adani Transmission, Adani Green Energy, Adani Total Gas and NDTV jumped 5% each, to hit upper circuits on May 22, 2023. Adani Wilmar settled at its upper price band of 10%
Adani Group’s market capitalisation hitting the Rs 10 lakh crore mark after the AM Sapre committee report suggested it was not possible to conclude that there was a regulatory failure on Hindenburg's price manipulation allegation
Earlier on Friday, the Supreme Court-appointed expert committee 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
“Sebi clearance clearly indicates that there is no corporate misgovernance. Earlier, shares of the group fell because of external factors. There’s nothing to do with the business. Adani Group of stocks should climb the walls of worry now. The leverage has also been lightened," says Vinit Bolinjkar, Head of Research at Ventura Securities
Adani Total Gas and Adani Ports are abysmally valued with strong businesses and cash flow businesses. Adani Enterprises has prioritised asset allocation. With their impending IPO, the green energy business will get wings. That is not discounted in valuations, as per Ventura Securities’ Vinit Bolinjkar
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