The risk mood in Adani Group-backed stocks seems to have eased out in the past few days, thanks to the mega block deal which came as a comforter for panic-driven investors. In five trading sessions, Adani stocks have recorded consistent rallies with the majority of them posting double-digit upside in percentage terms. Up to a 45% rise is seen in Adani stocks during these sessions. Riding on the back of bulls, Adani Group’s market value together has climbed more than ₹2 lakh crore.
On Monday, on BSE, flagship firm Adani Enterprises stock rose 5.5%, while Adani Ports picked up nearly 1%. Other Adani-named stocks such as Adani Wilmar, Adani Power, Adani Total Gas, Adani Green Energy, and Adani Transmission hit yet another 5% upper circuit each. In the media business, NDTV’s share price also gained by nearly 5%. However, in the cement business, Ambuja Cements was down by 1.7% and ACC stock tumbled by 1.5%.
By end of March 6th, Adani Group’s total market cap was nearly ₹8.85 lakh crore. This is up from ₹6.82 lakh crore market which was seen on February 27th.
Adani Enterprises is the most valued company of the group in terms of market share. Its market cap stood at ₹2,26,045.12 crore as of March 6th. Adani Ports followed with a market cap of ₹1,49,157.59 crore.
Furthermore, by end of March 6th, Adani Transmission’s m-cap is at ₹87,108.82 crore, Adani Total Gas at ₹90,283.41 crore; Adani Power at ₹68,614.94 crore, Adani Wilmar at ₹57,081.88 crore, Adani Green Energy at ₹93,473.76 crore, Ambuja Cements at ₹76,556.55 crore, ACC at ₹35,035.47 crore and NDTV at ₹1,489.29 crore.
Adani stocks have been on a winning spree since February 28th. Since then, Adani Enterprises’ share price has rallied the most in the group, zooming by a whopping 45.36% on BSE. Also, Adani Power, Adani Wilmar, and Adani Green Energy have climbed for five consecutive days, advancing by around 21.5% each.
Meanwhile, Adani Ports has been one of the top picks in the Adani Group holding an eighth consecutive day surge. In five trading sessions, this stock has soared over 16.5%. While Adani Transmission and Adani Total Gas have continued to climb for four trading sessions in a row, advancing by around 21% and 21.5% respectively.
Unlike the other mentioned Adani stocks, the cement business has witnessed much slower gains. Ambuja Cements and ACC have surged by nearly 13% and 8% on BSE. These two cement stocks halted their four days winning streak on Monday to trade in the red.