Adani Group shares sizzle as five stocks hit 52-week high levels

Adani Group shares sizzled yet again on the stock exchanges on Tuesday, with gains ranging from 0.3 per cent to 14 per cent. Six of the seven listed companies of the diversified conglomerate ended positive on the stock markets and five of them hit 52-week high levels on Tuesday.

The market capitalization of listed Adani Group stocks hit almost $ 175 billion. ($ 173.5 billion exactly). According to analysts, the recently listed Adani Wilmar was the main reason for the surge in market-cap, which first crossed the $ 100-billion mark in April last year.

Gains all around

The latest to list on the bourses, FMCG arm from the Adani stable, Adani Wilmar Limited ended with 8.44 per cent gains at ₹ 499.90 on Tuesday, more than double from the IPO price of ₹ 230. Intra-day, Adani Wilmar hit a 52-week high of ₹ 506.80 on Tuesday. The Group’s power arm, Adani Power Limited, surged by over 15 per cent intra-day to hit a 52-week high at ₹ 181.40 before ending with gains of 14 per cent at ₹ 173.55.

Other heavyweights from Gautam Adani-led conglomerate that hit 52-week high included the Group’s transmission arm, Adani Transmission Limited at 4 2,495 and flagship Adani Enterprises Limited at ₹ 1,930.

City Gas distribution arm, Adani Total Gas last quoted at ₹ 2,178.50, closer to its 52-week high levels of ₹ 2,190.35. The Group’s port and logistics player, Adani Ports and Special Economic Zone Limited (APSEZ) posted 3.3 per cent gains on Tuesday to end at ₹ 761.5 on BSE.

The Group’s green energy arm, Adani Green Energy Limited (AGEL) on Tuesday ended in red at 9 1,923.25, down 0.48 per cent from previous close.

Notably, the Sensex benchmark ended with gains of 0.61 per cent or 350.16 points at 57,943.65.

Market-cap of Adani stocks

In rupee terms, AGEL market capitalization moved past ₹ 3 lakh crore, while ATL, AGEL and AEL have market capitalization of over ₹ 2 lakh crore each, and APSEZ’s stands over ₹ 1.6 lakh crore. AWL and APL reported market cap of ₹ 65,000 crore and ₹ 67,000 crore respectively. The total market capitalization of the seven listed entities of the Adani Group reached close to ₹ 13.13 lakh crore as on Tuesday.

Published on

March 29, 2022


Leave a Comment