New Delhi:
Adani stock rises: The impact of a news in America was seen on the stock market in India. Sensex and Nifty saw a decline of more than one percent. But, the stock market of Adani Group stood strong. In today’s trading, Adani Energy, Adani Total, Adani Green, Adani Power have seen a rise of 9% to 13%. The faith of the people who have invested in Adani Group companies remains intact and as a result, there was a spectacular rise in the shares.
People and the market have expressed confidence in the clarification given by Adani Group on the allegations made in America. The market continues to have confidence in the company and its past, present and future better performance. This is the reason that despite being continuously targeted by some selfish organizations and people, Adani companies have not looked back. Let us tell you that on November 26, Adani Group had issued a clarification on the allegations of bribery by the American authority.
Recovery of Rs 1.78 lakh crore
Even though a minor impact may have been seen immediately after the allegations, a total of Rs 1.78 lakh crore has been recovered in the market cap (m-cap) of Adani Group in two days. The current market cap of the company is around Rs 12.80 lakh crore.
Rapid increase in market cap of Adani Power
Compared to other big companies present in the market, the market cap of Adani Power has increased rapidly. Among all Adani companies, the market cap of Adani Power has increased the most by Rs 49,330 crore. Whereas the market cap of Adani Enterprises has registered an increase of Rs 35,739 crore.
It is noteworthy that on November 19, the market cap of the group companies was Rs 13.15 lakh crore. On November 21, the market cap of Adani Group companies reached Rs 11.04 lakh crore, when allegations of bribery were made by the Department of Justice in America. That means there was a loss of Rs 2.11 lakh crore in the group’s market cap.
Confidence in Adani’s stocks in the market
Now the market has shown confidence in the strength of Adani Group companies and a great recovery has been seen in the shares. Adani Total Gas shares have seen a recovery of 36.2% in the last two days. Adani Power has seen a recovery of 29.2%. Adani Enterprises has recovered 14.6%. Adani Energy has seen 21% recovery. NDTV has seen a recovery of 9.3% in two days.
This rise has been seen after the clarification from Adani Group on Wednesday. The group has clarified that neither Gautam Adani, nor Sagar Adani, nor other senior officials are within the scope of bribery allegations by the American authorities. That means there are no allegations against them.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
