Adani stocks extend rally

PTI

New Delhi, May 23

All Adani Group stocks extended their rally, with Adani Enterprises climbing over 13% on Tuesday, after a Supreme Court-appointed panel found no evidence of stock price manipulation in the group companies. The stock of Adani Enterprises zoomed 13.19% on the BSE.

GQG raises stake in Adani Group by 10%

• US-based GQG Partners has raised its stake in Gautam Adani’s conglomerate by about 10% and will take part in the group’s future fund raising, as per a report
• The value of GQG’s Adani holdings is close to $3.5 billion, the report said, citing an interview with Rajiv Jain, chief investment officer of the US investment firm

Shares of Adani Wilmar jumped 9.99%, Adani Power climbed 5%, Adani Transmission (5%), Adani Green (5%), Adani Total Gas (5%) and NDTV (4.99%).

The stock of Ambuja Cements climbed 0.90%, Adani Ports gained 0.53% and ACC went up 0.25%. Some group stocks also hit their upper circuit limits during the trade.

The combined market valuation of all the 10 group firms now stands at Rs 10,79,497.65 crore. In three days, the combined market valuation of all the group firms has jumped Rs 1,77,927.29 crore. The BSE benchmark ended with marginal gains, up 18.11 points at 61,981.79 points.