AEL adds another 20%, 7 Adani stocks up as group boosts investor confidence

M-cap back above Rs 10-trillion mark; Adani Transmission, Adani Wilmar, Adani Power and NDTV hit upper limit of 5%

The Adani Group stocks gained for a second day on Wednesday after the company took a host of measures to restore investor confidence and ease concerns around its leverage.

Seven out of 10 stocks of the group finished with gains — with the flagship Adani Enterprises (AEL) rallying the most, at nearly 20 per cent.

AEL, which withdrew its Rs 20,000-crore share sale earlier this month despite garnering full subscription, is now up 37 per cent in two days, recouping half the losses it saw after US short-seller Hindenburg Research released a scathing report, alleging financial irregularities in the group.