Adani Group Stocks Surge Amid Positive Developments, Market Cap Soars to Nearly Rs 12.8 Lakh Crore
Adani Group stocks experienced a significant bullish trend on Tuesday, with nearly all of the group’s companies showing positive gains.
Table of Contents
Leading the rally were Adani Green Energy, which rose by 2.47%, and Adani Power, gaining 2.33%. Additionally, Adani Energy Solutions increased by 1.96%, while the flagship company Adani Enterprises saw a rise of 1.72%.
Other stocks from the Adani Group also saw substantial growth, including Adani Ports and Special Economic Zone (APSEZ), up 1.36%, and Adani Total Gas, which rose by 0.3%. The group’s cement companies, Ambuja Cements and ACC, were up by around 1.5%.
Also Read: Today’s Gold and Silver Prices in Different Cities
Market Capitalization Hits Nearly Rs 12.8 Lakh Crore
The surge in stock prices led to a sharp increase in the market capitalization of the Adani Group, which grew by approximately Rs 16,000 crore. The group’s current market cap stands at nearly Rs 12.8 lakh crore, reflecting investor optimism and confidence.
Positive Developments Driving Investor Confidence
Several recent positive developments have fueled the upward momentum in Adani Group stocks. Notably, Adani Petrochemicals, a subsidiary of Adani Enterprises, announced a joint venture with Indorama Resources. The new venture, named Valor Petrochem, will see Adani Petrochemicals hold a 50% stake. This collaboration leverages Indorama’s global expertise in the petrochemicals sector.
Founded in 2021, Adani Petrochemicals aims to establish refineries and petrochemical complexes in India. Indorama Ventures, the parent company of Indorama Resources, is a major player in the global petrochemical industry, with operations in over 35 countries and a leading position in polyester products and fibres.
Market Overview: Sensex and Nifty in the Green
Meanwhile, the broader market showed a positive outlook, with Sensex and Nifty both trading in the green, up nearly 0.4%. On the National Stock Exchange (NSE), 1,724 stocks were trading higher, while 487 stocks were in the red.
