Adani Ports rises for second straight day; stock up 26% from Monday's low

The stock rose even as global rating agency Standard and Poor's (S&P) on Friday revised the outlook on Adani Ports and Adani Electricity from 'stable' to 'negative'

Shares of Adani Ports and Special Economic Zone (APSEZ) were trading higher for a second straight day with a gain of 6 per cent at Rs 529.35 on the BSE in Monday’s intra-day trade. The stock of the Gautam Adani group company has bounced 26 per cent from its last Monday’s low of Rs 394.95.

At 02:18 PM; APSEZ was quoting 5 per cent higher at Rs 523.40. In comparison, the S&P BSE Sensex was down 0.48 per cent at 60,551.

Since, January 24, that is over the past seven trading days, the stock tanked 48 per cent