Adani group stocks gain up to 14% for third day in a row: Adani Green Energy , Adani Energy Solutions lead the gains
Today’s stock market: For the third consecutive day, the share price of Adani Group companies increased by up to 14%.
The share price of Adani Green Energy Ltd. led the gains, increasing by 14% during Friday morning trading.
The share price of Adani Total Energy Solutions Ltd. increased by up to 12% as well.
The price of Adani Power shares increased similarly to that of Adani Total Gas shares, which increased by up to 5%.
The share price of Adani Enterprises, Adani Ports and Special Economic Zone, and Adani Wilmar, among others, increased by up to 3%.
Among the other group enterprises, New Delhi Televisions Ltd. (NDTV) was another notable acquisition. The share prices of Ambuja Cements Ltd. and ACC Ltd. increased by up to 3%, while NDTV’s price increased by up to 5%. Following Adani Green’s clarification and denial of bribery allegations against group chairman Gautam Adani and other US officials, Adani shares have been increasing. A number of organizations have also supported the Adani group and maintained its viewpoint. Following the indictment of Gautam Adani and others by US federal authorities for allegedly bribing Indian government officials, the International Holding Company (IHC), the investment arm of Abu Dhabi’s ruling family, became the second major investor after CQG Partners to reaffirm their faith in the Adani group. According to news reports, Tanzania and the Sri Lankan Port Authority have also confirmed their support for the Adani group. In the meantime, the shares of the Adani group have benefited from a number of corporate changes. Adani Green Energy Ltd. notified the stock exchanges that on November 27, 2024, Adani Saur Urja (KA) Limited, a wholly-owned subsidiary of the company, registered Adani Hydro Energy One Limited as a wholly-owned subsidiary. The certificate of incorporation was obtained on November 28, 2024.
