Four Adani Group Stocks Hit Upper Circuit Today

4 Adani Group shares were higher, with the flagship company down 5%.

Shares of four companies in the Adani group hit the 5% upper circuit on Thursday, extending gains to a seventh straight day. According to the BSE, shares of Adani Total Gas, Adani Green Energy, Adani Power and Adani Transmission rose 5%, locked in their upper circuits.

Shares of Adani Wilmar were also up more than 2%. As of 2:15 pm, it was trading at 472.65. Shares of NDTV, owned by Adani Group, also rose more than 1% to trade at Rs 245.10 on the BSE.

However, shares of Adani Enterprises fell by 4.62%. Shares of Adani Ports and SEZ were also down nearly 3% at Rs 692.30 by 2:15 pm.

Adani shares started to rally after the group started a roadshow to convince investors of the strength of its balance sheet. The international roadshow started in Singapore and Hong Kong, then moved to Dubai and London, and will continue in the US.

Also, it was reported last night that Gautam Adani and his family had prepaid all loans backed by company shares.

US-based GQG Partner has also recently invested more than Rs 1,500 crore in four Adani companies. It may expand its investment in the group.

According to the company’s founder Rajeev Jain, “The chances are that we will probably buy more because we usually initiate a position, and then it depends on how things go and the earnings, although we will Let’s get in full size because we’re not in full size at this point.”

NSE has placed Adani Enterprises, Adani Power and Adani Wilmar under the framework of a short-term additional surveillance mechanism with immediate effect. This is done to protect investors from speculative trading.

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