Adani Group’s mcap shoots over $200bn

Shares of Adani Group companies continued to remain in the limelight on Thursday, with the flagship Adani Enterprises rallying eight per cent, amid reports of likely inclusion in the 30-share BSE Sensex.

The stock of Adani Enterprises jumped 8.01 per cent to Rs3,391.20 apiece on the BSE. The BSE is likely to announce its semi-annual review on Friday. The adjustments to the components are likely to take place on June 21.

“We expect inclusion of Adani Enterprises and exclusion of Wipro from Sensex,” according to a note by IIFL Alternative Research.

The combined market valuation of all the 10 listed group firms stood at Rs17.23 lakh crore. Adani Group’s market capitalisation on Wednesday regained the $200 billion mark (Rs16.9 lakh crore) after its listed firms gained Rs11,300 crore as investors reposed faith in the company denying any wrongdoing in the supply of coal to Tamil Nadu power company. Adani Group’s mcap was at Rs19.19 lakh crore on January 24, 2023, the day Hindenburg’s report was released.

Meanwhile, buying was also seen in other group stocks. Shares of NDTV zoomed 7.56 per cent, Adani Ports climbed 4.72 per cent, ACC shot up by 2.86 per cent, Adani Power went up by 2.79 per cent, Adani Total Gas advanced 2.30 per cent and Ambuja Cements (2.09 per cent). The stock of Adani Wilmar moved up by 1.85 per cent, Adani Green Energy rallied 1.25 per cent and Adani Energy Solutions advanced 1.17 per cent. In the equity market, the Sensex and Nifty hit their lifetime peaks. The 30-share BSE benchmark Sensex ended at an all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent.