Shares of eleven Adani Group company made a major come back and ended in green on Wednesday amid spate of positive developments in the domestic markets.
Breaking last 10 sessions of losing streak, the benchmark Nifty surged 254 points to close at 22,337 points as easing oil prices facilitated the rebound.
Stocks that advanced overwhelmingly outnumbered declines, with the advance-decline ratio on the BSE reaching 4.24 levels — the highest since April 1, 2024.
Positive turn
Among Adani group shares, Adani Green Energy and Adani Energy Solutions led the rally registering 10 per cent gain to ₹848 and ₹711 a piece, respectively.
The Group’s flagship Adani Enterprises shares were up 5 per cent at ₹2,244 a share following a huge block trade worth ₹1,832 crore. As per BSE date, about 84.49 lakh shares priced ₹2,168 a piece exchanged hands, though the details on who executed the deal was not available immediately.
Adani Ports was up 5 per cent at ₹1,113 as cargo handled by the company went up 3 per cent y-on-y in February to 36.5 million tonnes (mt), led by 16 per cent increase in containers and 12 per cent rise in liquid and gas cargos.
Ambuja Cements shares jumped 3 per cent to ₹490 a piece after CCI allowed it to acquire up to 73 per cent stake in Orient Cements while ACC was up one per cent at ₹1,857 a share.
Positive momentum was also seen in Adani Total Gas and NDTV, which were up 8 per cent and 5 per cent respectively.
Adani Wilmar shares rose 8 per cent to reach ₹258 a share as it announced plans to acquire ‘Tops’ maker GD Foods in the next three years.
Back on track
The CCI has approved the acquisition of equity shares of PSP Projects by Adani Infra (India).
The Group has also revived its US investment plans following policy changes under the new President Donald Trump. The ports-to-energy conglomerate, which had initially pledged $10 billion to various US infrastructure projects, had put those plans on hold after the US Department of Justice indicted founder Gautam Adani and seven other associates in an alleged bribery case.
However, the Trump administration suspended the investigation recently, leading to revival of the Group’s plans to invest in nuclear power, utilities and east coast port in the US.