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Adani Group stocks rally; Adani Enterprises stock jumps 8 per cent

By IndianMandarins- 23 May 2024
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New Delhi (23.05.2024): Shares of Adani Group companies continued to remain in the limelight on Thursday, with the flagship Adani Enterprises rallying 8 per cent, amid reports of likely inclusion in the 30-share BSE Sensex
The stock of Adani Enterprises jumped 8.01 per cent to Rs 3,391.20 apiece on the BSE. The BSE is likely to announce its semi-annual review on Friday. The adjustments to the components are likely to take place on June 21. "We expect inclusion of Adani Enterprises and exclusion of Wipro from Sensex," according to a note by IIFL Alternative Research.
Meanwhile, buying was also seen in other group stocks. Shares of NDTV zoomed 7.56 per cent, Adani Ports climbed 4.72 per cent, ACC shot up by 2.86 per cent, Adani Power went up by 2.79 per cent, Adani Total Gas advanced 2.30 per cent and Ambuja Cements (2.09 per cent).
The stock of Adani Wilmar moved up by 1.85 per cent, Adani Green Energy rallied 1.25 per cent and Adani Energy Solutions advanced 1.17 per cent. The combined market valuation of all the 10 listed group firms stood at Rs 17.23 lakh crore. Adani Group's market capitalisation on Wednesday regained the $200 billion mark (Rs 16.9 lakh crore) after its listed firms gained Rs 11,300 crore as investors reposed faith in the company denying any wrongdoing in the supply of coal to Tamil Nadu power company.
In the equity market, the Sensex and Nifty hit their lifetime peaks. The 30-share BSE benchmark Sensex ended at an all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent. The NSE Nifty inched closer to the 23,000 mark during the day. It went up by 369.85 points or 1.64 per cent to 22,967.65.

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