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Adani group stocks rally, market capitalisation up by Rs 1.04 trillion

However, Adani group companies are still trading significantly below their all-time highs

Adani

Photo: Bloomberg

BS Reporter Mumbai

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Adani group shares registered a sharp rally on Tuesday amid positive business updates from its group company, Adani Energy Solutions, and the overall recovery in the equity markets.
 
The total market capitalisation of the group companies rose by Rs 1.04 trillion.
 
Shares of Adani Power zoomed 19.77 per cent, Adani Green Energy soared 13.22 per cent, Adani Energy Solutions surged 12.06 per cent, Adani Enterprises rallied 7.12 per cent, Adani Total Gas jumped 6.52 per cent and NDTV shot up 5.63 per cent on the BSE.
 
In its provisional business updates filed with the exchanges, Adani Energy Solutions reported that its transmission network expanded to 26,485 circuit kilometres (ckm) in the quarter ended December, compared to 20,422 ckm in the same period during the previous year—a rise of 29.6 per cent. Its power transmission capacity increased to 84,286 MVA from 54,661 MVA during the same quarter of the previous financial year.
 
 
Adani group companies are still trading significantly below their all-time highs. Adani Energy Solutions is trading 82 per cent below its lifetime high, while Adani Green Energy remains 67 per cent below its peak.
 
“Adani stocks are a trader's delight because the volatility is much higher than in other stocks. But from an investor's perspective, I would advise them to tread cautiously as the stocks are expensive,” said Amabreesh Baliga, an independent equity market analyst.
 

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First Published: Jan 14 2025 | 7:46 PM IST

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