Adani Group shares rose on Monday despite weak demand in broader markets. All the shares of Adani were bullish and closed with a gain of around 2% to 15%. After a stellar performance, the group confirmed its participation in the open bidding process for the 5G sector. Adani Green Energy, Adani Total Gas and Adani Transmission saw heavy buying, while Adani Power and Adani Wilmar affected the 5 per cent upper circuit. Adani Enterprises and Adani Port also made substantial profits.
On BSE, Adani green energy shares closed 2,209.80 each till date 288.90 or 15.04%. Shares touch intraday high 2,275 each. The market cap of the company at the current price is approx. 3,50,039.50 crores. The stock gained the most over its siblings.
During this, Adani Total Gas shares expired Up each by 2,714.15 After touching the intraday high of 172.80 or 6.80% 2,775.85 each. Its market cap was a bit shy 3 lakh crore mark as valuation is at present 2,98,504.95 crores.
For Adani Transmission, ended on stock 2,697.40 each on the BSE 151.15 or 5.94%. Shares hit intraday highs 2,750 earlier today. Its market cap reached 3,00,893 crores.
Adani Power shares end at 5% upper circuit 284.95 each. Its market value is approx 1,09,903.48 crores.
At the same time, the shares of Adani Wilmar also closed at 5% upper circuit. 617.25 each on BSE. The market cap of the company is approx. 80,222.66 crores.
Adani Ports shares climb 13 or 1.82% and closed at 729 each. Shares close at day’s high 731.95 each. Its market valuation is 1,53,992.01 crore. Last week, the company appointed D. Muthukumaran as Chief Financial Officer and Key Managerial Personnel with effect from July 25, 2022.
Ended on shares of Adani Enterprises, the flagship company of the Adani Group above 2,371.55 78.50 or 3.42% on BSE. Shares touched intraday highs 2,384.95 before today. Its market cap is approx. 2,70,356.97 crores.
On Saturday, the Adani Group said in its statement, “As India prepares to launch next generation 5G services through this auction, we are one of the many applicants participating in the open bidding process.”
“We are participating in the 5G spectrum auction to provide private network solutions along with enhanced cyber security across airports, ports and logistics, power generation, transmission, distribution and various manufacturing operations,” the group said.
If the group wins 5G spectrum in open bidding, the group said it would be in line with their recent announcement to significantly increase Adani Foundation’s investments in education, health care and skill development in rural areas, each of which could benefit from 5G. Will happen. technology.
Additionally, the group plans to build its own digital platform comprising SuperApp, EDGE data centers and industry command and control centers as they need to provide ultra high quality and low latency 5G networks across all their businesses. Data streaming capabilities will be required.
Notably, later this week, shares of Adani Enterprises, Adani Port, and Adani Total Gas will turn ex-dividend on July 15 from their record date on July 14.
Adani Enterprises declared dividend of Re 1 (100%) for FY 2012, while Adani Ports declared dividend of Rs. 5 each (@250%), and Adani Total Gas has declared a dividend of Rs.0.25 (@25% per equity share) for the same financial year.