Adani Group Stocks Surge, Add ₹56,000 Crore to Market Capitalisation

Manoj Prasad

In a significant turnaround, shares of Adani Group companies have been trading with substantial gains on Friday, with all 10 group companies showing positive returns.

The surge has added nearly ₹56,000 crore to the group’s market capitalisation, taking it to ₹17.7 lakh crore.

Although this figure is still below the pre-Hindenburg high of ₹24 lakh crore, it marks a significant recovery for the group.

Among the group companies, Adani Enterprises has been the top gainer, with its shares rising by 6%. Adani Ports and Adani Green Energy have also seen significant gains, with returns of 4% and 3%, respectively.

Adani Total Gas and Adani Power have also performed well, with gains of 6% and 3.2%, respectively. The other group companies, including Adani Energy Solutions, Adani Wilmar, ACC, and Ambuja Cements, have also seen positive returns, ranging from 2% to 2.4%.

Three group companies – Adani Enterprises, Adani Ports, and Adani Green Energy – currently have a market capitalisation in excess of ₹3 lakh crore. Adani Enterprises has recently recovered all the losses it incurred during the Hindenburg saga, rebounding from lows of ₹1,017.

In a recent note, brokerage firm Jefferies highlighted Adani Enterprises’ plans to scale its captive manufacturing capacity towards starting Green Hydrogen production by financial year 2027.

The firm also expects the Navi Mumbai airport to be commissioned by the fourth quarter of the current financial year.

Adani Ports has outlined a business roadmap that includes growing its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) at a Compounded Annual Growth Rate (CAGR) of 18% over financial year 2024 – 2029.

Adani Green has also raised its 2030 power capacity target to 50 GW from 45 GW, which will include 5 GW of pumped hydro.

Adani Enterprises is currently the top gainer on the Nifty 50 index, trading with gains of 6%. The group’s stocks have been driven by a combination of positive business outlook and investor confidence in the group’s recovery from the Hindenburg saga.

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