Business Standard

Wednesday, December 18, 2024 | 05:31 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

AEL adds another 20%, 7 Adani stocks up as group boosts investor confidence

M-cap back above Rs 10-trillion mark; Adani Transmission, Adani Wilmar, Adani Power and NDTV hit upper limit of 5%

adani group
Premium

Photo: Bloomberg

Sundar SethuramanBloomberg Mumbai
The Adani Group stocks gained for a second day on Wednesday after the company took a host of measures to restore investor confidence and ease concerns around its leverage.

Seven out of 10 stocks of the group finished with gains — with the flagship Adani Enterprises (AEL) rallying the most, at nearly 20 per cent.

AEL, which withdrew its Rs 20,000-crore share sale earlier this month despite garnering full subscription, is now up 37 per cent in two days, recouping half the losses it saw after US short-seller Hindenburg Research released a scathing report, alleging financial irregularities in the group.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in