Six group companies ended in positive territory on Tuesday.
New Delhi:
Shares of Adani group companies closed on a mixed note on Tuesday, with flagship Adani Enterprises rising nearly 15 per cent.
The combined market valuation of the group’s ten listed companies has declined by about Rs 9.2 lakh crore in the last 10 trading sessions beginning January 24, the day US-based short-seller Hindenburg Research came out with its adverse report.
Six group companies ended in positive territory on Tuesday. Adani Enterprises closed at Rs 1,802.50, up 14.63 per cent, while Adani Wilmar jumped 5 per cent to close at Rs 399.40 per share on the BSE.
Adani Ports and Special Economic Zone closed at Rs 553.30, Ambuja Cements at Rs 383.70, ACC at Rs 1,995.50 and NDTV at Rs 216.95. All of them closed with gains of more than 1 percent.
Manish Chowdhary, head of research at brokerage Stockbox, said after dismal market performance of Adani group stocks in the last few days, these stocks declined marginally, especially Adani Enterprises, Adani Ports, Adani Wilmar, Ambuja Cements and ACC.
“Other Adani group stocks remained under pressure, resulting in marginal correction in overall market capitalization. Adani group stocks (including Ambuja, ACC and NDTV) have lost about Rs 9.2 lakh crore or about 48 per cent of their combined market cap capitalization in the last ten trading sessions (January 24 to February 7, 2023),” he said.
On Tuesday, four companies of Adani Group closed in red mark. Adani Power, Adani Green Energy and Adani Total Gas declined 5 per cent each, while Adani Transmission fell 0.77 per cent to Rs 1,251.70.
Adani Power closed at Rs 173.35, Adani Green Energy at Rs 843.20 and Adani Total Gas at Rs 1,467.50. All these three stocks closed in the lower price band on BSE.
Deepak Jasani, head of retail research at HDFC Securities, said Adani group stocks had a mixed day amid the results of Ambuja Cements, Adani Green and Adani Ports and a heated debate on the group in Parliament.
“Adani Enterprises sharply pared the sharp losses seen in the past week. Adani Green, Adani Power and Adani Total Gas closed on the lower circuit, with two reversals before opening gains for the day, renewing each gain. Showing selling pressure from the stock,” he said.
Adani Group on Monday said the promoters will make a pre-payment of USD 1,114 million to release pledged shares of their firms before maturity in September 2024.
These shares belong to Adani Ports and Special Economic Zone, Adani Green Energy and Adani Transmission.
The 30-share BSE Sensex closed at 60,286.04, down 220.86 points or 0.37 per cent on Tuesday.
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