Adani Grp stocks soar; Adani Transmission, Total Gas add up to 75% in 1 mth

Shares of Adani group companies were in demand on Tuesday as they rallied by up to 5 per cent on the BSE in the intra-day trade. 

Adani Transmission (Rs 1,580), Adani Total Gas (Rs 1,447) and Adani Power (Rs 98.50) were locked in the 5 per cent upper circuit bands on the BSE with only buyers being seen on the counters. Adani Enterprises, meanwhile, was up nearly 5 per cent at Rs 1,589.80, while Adani Ports and Special Economic Zone (SEZ) was up 3 per cent at Rs 747.75. Adani Green Energy, on te other hand, was flat at Rs 1,065. In comparison, the S&P BSE Sensex was up 0.38 per cent at 57,105 points at 12:15 pm.

Except, Adani Enterprises and Adani Ports, the remaining four stocks are currently trading under the T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed.

Among individual stocks, Adani Transmission has zoomed 75 per cent in the past one month, as compared to a 9 per cent rise in the S&P BSE Sensex. The stock is 4 per cent away from its record high level of Rs 1,648 touched on June 7, 2021.

The company is the country's largest private transmission company with a cumulative transmission network of 18,800 ckt km, out of which 13,200 ckt km is operational and 5,600 ckt km is at various stages of construction. ATL also operates a distribution business serving over 3 million customers in Mumbai.

That apart, Adani Enterprises is 7.5 per cent away from its all-time high level of Rs 1,718.45 touched on June 7, 2021. Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.

On August 2, 2021, Adani Enterprises had announced that Adani Wilmar (AWL), a 50:50 joint venture company between the Adani group and the Wilmar group, has filed its draft red herring prospectus with the Securities and Exchange Board of India in relation to its proposed Initial Public Offering (IPO) to raise up to Rs 4,500 crore.

AWL is one of the few large fast moving consumer goods (FMCG) food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar under a diverse range of brands across a broad spectrum.

The net proceeds from the IPO are proposed to be used by AWL to fund capital expenditure for expansion of AWL's existing manufacturing facilities and developing new manufacturing facilities, repayment/prepayment of borrowings, to fund strategic acquisitions and investments and for general corporate purposes.

Separately, the stock of Adani Power was locked in the 5 per cent upper circuit at Rs 98.50, having surged 34 per cent in the past six trading days.

According to a Business Standard report, the two power units in Gujarat using imported coal -- Tata UMPP and Adani Mundra -- might have a chance at revival as the Centre opens up merchant power sale for them in the middle of domestic coal supply shortages.

It is expected that Tata Power and Adani Power could make gains on selling on the power exchanges, especially since they are not selling power to any state on a long-term basis due to no clarity on tariffs, the report suggested. CLICK HERE FOR FULL REPORT

COMPANY	LATEST	1-MONTH BEFORE	GAIN(%)
Adani Transmissi	1,580.10	903.75	74.8
Adani Total Gas	1,446.00	891.55	62.2
Adani Green	1,055.05	888.20	18.8
Adani Enterp.	1,585.40	1,420.90	11.6
Adani Ports	748.15	674.65	10.9
Adani Power	98.50	95.75	2.9