Adani Portfolio stocks surge up to 11 pc, Adani Green Energy leads rally
Adani Portfolio stocks saw a sharp rally on Wednesday as the stock market rebounded, with shares across its businesses, from ports to energy, witnessing significant gains.
The surge was led by Adani Green Energy, which jumped up 10.59 per cent, or Rs 81.40, to close at Rs 849.95. During the intra-day session, the stock touched a high of Rs 857.90 and a low of Rs 769.
Adani Energy Solutions also registered strong gains by climbing 9.33 per cent, or Rs 60.35, to end at Rs 707. The stock traded between Rs 731.50 and Rs 646 during the day.
Adani Total Gas rose 6.41 per cent, gaining Rs 35.05 to close at Rs 582.20, after reaching an intra-day high of Rs 600 and a low of Rs 544.35.
Adani Enterprises, the flagship company of the group, closed 4.53 per cent higher at Rs 2,242, up by Rs 97.20.
Adani Ports, another company under the same umbrella, gained 5.15 per cent to settle at Rs 1,112.45, and Adani Power rose 3.95 per cent to close at Rs 502.35.
The group’s cement business, Ambuja Cements, also saw a 3.07 per cent rise, ending at Rs 489.60.
The broader Indian stock market also ended on a positive note after 10 consecutive days of losses.
The Sensex surged 740 points or 1.01 per cent to close at 73,730, while the Nifty climbed 254 points or 1.15 per cent to settle at 22,337.
The market ended one per cent higher on Wednesday after US Commerce Secretary Howard Lutnick suggested potential tariff relief for Mexico and Canada.
This raised hopes that other tariffs might also be reconsidered, which helped in boosting investors' sentiment.
The strong market performance led to a rise in the total market capitalisation of all companies listed on the Bombay Stock Exchange (BSE).
The total market cap increased by Rs 9 lakh crore, reaching Rs 393 lakh crore, up from Rs 384 lakh crore on March 4.
