Adani Enterprises jumps 8% as listed companies in the Adani Group post strong gains in their shares
The Indian indexes experienced a strong rebound on Thursday, which gave the Adani Group firms’ stocks a lot of momentum. The lead company, Adani Enterprises, rose 8% to become the top gainer.
The increase in Adani Enterprises (AEL) shares coincided with speculation that the 30-share BSE Sensex might include AEL in place of Wipro in the next revision of the benchmark index, which may be revealed on Friday.
IIFL Alternative Research said in a note, “We expect the inclusion of Adani Enterprises and the exclusion of Wipro from Sensex.”
On the BSE on Thursday, the AEL stock increased by 8.01 percent to trade at Rs 3,391.20 a share.
Adani Ports increased by 4.72 percent and ACC Limited by 2.86 percent, respectively, among the other group firms.
Adani Power gained 2.79 percent, Adani Total Gas climbed 2.30 percent, NDTV shares jumped 7.56%, and Ambuja Cements went up 2.09 percent.
Adani Wilmar experienced a 1.85% gain in share price, Adani Green Energy saw a 1.5% increase, and Adani Energy Solutions saw a 1.7% increase.
The aggregate market worth of the ten listed Adani Group companies is now Rs 17.23 lakh billion.
Cantor Fitzgerald, a multinational brokerage located in the United States, has set a target price of Rs 4,338 per share for Adani Enterprises’ shares.
