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Adani Group Stock: Shares of Adani Group are witnessing a tremendous surge today on Tuesday. Shares of the company jumped 10% in early trading. There is a big reason behind this rise in shares. In fact, the Supreme Court heard the Hindenburg Research and Adani Group case and held that the American company’s Hindenburg report need not be considered factually correct. At the same time, market regulator Securities and Exchange Board of India ie SEBI said it would not seek more time for the investigation.
How much increase in which stock?
Shares of Adani Enterprises rose more than 4 percent. Shares of Adani Total Gas rose nearly 20 percent. Shares of Adani Green Energy rose nearly 8 percent, while Adani Power rose nearly 7 percent to touch a 52-week high of ₹423.15. Shares of Adani Wilmar rose nearly 6 percent while shares of Adani Ports rose over 3 percent. Among other Adani Group companies, NDTV gained more than 5 percent, Ambuja Cement gained more than 3 percent and ACC gained more than 2 percent.
Investment opportunity: Second IPO opens from November 30, price band ₹26
Monitor quarterly results
Meanwhile, 7 out of 10 companies of the listed Adani Group reported growth in net profit in Q2FY24. Adani Group’s cement and building materials major Ambuja Cements emerged as the top performer among group companies, posting a stunning 1,835 percent jump in its consolidated net profit to ₹987 crore as against a net profit of ₹51 crore.