Adani Group stocks extend rally on $2 billion investment by UAE's IHC

International Holding Company (IHC) has agreed to invest $2 billion in Adani Enterprises, Adani Transmission, and Adani Green Energy through preferential issue

Shares of Adani Group companies traded higher by up to 8 per cent on the BSE in Monday's intra-day trade, extending their previous week's rally, after UAE's International Holding Company (IHC) agreed to invest 7.3 billion dirhams ($2 billion) in three group companies through preferential issue. In comparison, the S&P BSE Sensex was down 0.60 per cent at 59,092 points at 09:37 AM.

IHC will invest Rs 3,850 crore in Adani Green Energy (AGEL), Rs 3,850 crore in Adani Transmission (ATL), and Rs 7,700 crore in Adani Enterprises (AEL), in compliance with SEBI regulations.

"The transaction is expected