Adani Group Stocks Surge: Market Cap Soars By Rs 15,000 Crore Amidst Supreme Court Hearing
Adani Group Stocks Surge: Market cap soars by Rs 15,000 crore amidst Supreme Court hearing.
Discover the latest financial developments as Adani Group shares witness a significant boost of Rs 15,000 crore.
Get insights into the Supreme Court hearing on fraud allegations and the market dynamics shaping the rise in stock prices.
There has been a rise in the shares of Adani Group companies. Now their value has increased to approximately Rs 15,000 crore.
On November 24, 2023, the Supreme Court heard petitions seeking an investigation into fraud allegations against Adani Group and reserved its decision.
After this, according to stock exchange data, the stocks of nine out of 10 listed group companies of Adani Group ended in the green.
This week, Rs 14,786 crore was added to the market capitalization of Adani Group.
The total market capitalization of 10 Adani Group companies was around Rs 10.26 lakh crore at the close of trading on Friday. Whereas on Thursday it was Rs 10.11 lakh crore.
Adani Group Stocks Surge: Hearing of petition against Adani Group.
A bench of Chief Justice of India DY Chandrachud, Justice JB Pardiwala, and Justice Manoj Mishra heard the petition against Adani Group.
In this, he said that the Securities Exchange Board of India (SEBI) cannot be expected to follow media reports to make a decision about Adani’s conduct.
Regarding this, SEBI also said that it will not extend the deadline to complete its ongoing investigation. Analysts said the rise in stock prices is a sign of confidence in Adani Group by investors.
Now the company is leaving the Hindenburg controversy behind and focusing on the investment cycle.
Adani Group shares.
On November 24, 2023, nine out of 10 shares of Adani Group were in the green.
Adani Enterprises, the flagship company of this group, jumped 2.3 percent, after which its market capitalization increased to Rs 2.53 lakh crore.
At the same time, Adani Power stocks increased by 4.06 percent. Its mcap also became Rs 1.5 lakh crore.
Stocks of Adani Total Gas closed up by 1.2 percent, Adani Energy Solutions by 0.84 percent, and Adani Green Energy by 0.77 percent.
On the other hand, Ambuja Cement shares closed in the red with a fall of 0.31 percent.
