Shares of all Adani Group firms surge, Adani Total gas soars nearly 20%

Shares of all Adani Group companies saw a significant rise on Wednesday, with Adani Total Gas and Adani Power nearly gaining 20% each. This surge comes as a rebound from the previous day's losses.

Adani Total Gas stock surged by 19.76%, Adani Power soared by 19.66%, Adani Enterprises jumped by 11.56%, Adani Energy Solutions rose by 10%, and Adani Green Energy increased by 10% on the BSE.

Other group companies also performed well: NDTV's shares increased by 9.35%, Adani Wilmar by 8.46%, Adani Ports by 6.29%, Sanghi Industries by 4.73%, Ambuja Cements by 4.40%, and ACC by 4.16%.

Thanks to this rally, the combined market valuation of Adani Group firms surged by ₹1,24,693.19 crore.

Several stocks, including Adani Power, Adani Energy Solutions, Adani Green Energy, and Adani Total Gas, hit their upper circuit limits during the trading session.

This rise follows a sharp decline on Tuesday, where all Adani group firms closed lower, with Adani Green Energy dropping by 7%.

In the broader market, the BSE Sensex climbed by 230.02 points (0.29%) to settle at 80,234.08, while the NSE Nifty rose by 80.40 points (0.33%) to 24,274.90.

In other news, Adani Group chairman Gautam Adani, his nephew Sagar Adani, and senior executive Vneet Jaain have been cleared of any bribery charges by the US Department of Justice, according to a statement by the Adani Group.

Adani Green Energy, part of the Adani Group, has dismissed recent media reports as "incorrect" in a stock exchange filing. The US Department of Justice indictment includes five counts, but the first and fifth counts—conspiracy to violate the FCPA and conspiracy to obstruct justice—do not mention the three directors: Gautam Adani, Sagar Adani, and Vneet Jaain.

The Adani Group had previously denied all allegations as baseless and announced plans to pursue legal action to defend itself.