Adani Stocks Skyrocket After Block Deal With Goldman Sachs Fund
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

All of the 10 listed stocks of the Adani Group opened in the green as the markets opened on Friday.

What Happened: The group on Thursday informed that its promoters have sold around 21 crore shares worth ₹15,446 crore in four of the group’s companies.

One of the group’s promoters SB Adani Family Trust sold stakes in Adani Ports and Special Economic Zone Limited (APSEZ), Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL), and Adani Enterprises Limited (AEL). The shares were bought by US Global equity boutique, GQG Partners.

GQG bought 3.8 crore shares of Adani Enterepisrse of at an average price of ₹1,410.86 amounting to a total of ₹5,460 crore. It bought 8.86 crore shares of Adani Ports and Special Economic Zone at ₹596.20 the total investment comes up to ₹5,282 crore. The firm purchased 2.84 crore shares of Adani Transmission at ₹668.40 a piece amounting to a total investment of ₹1,898 crore. It bought 5.56 crore shares of Adani Green at an average price of ₹504.60 amounting to ₹2,806 crore.

In a separate block deal, Goldman Sachs Fund bought shares worth around ₹1,134 crore in Adani Green, ₹2,203 crore worth of shares in Adani Ports, and ₹551 crore worth of shares in Adani Transmission.

The huge investments from foreign investors are expected to boost investor confidence in the battered group’s stocks.

Price Action: This is how the Adani Group shares traded at market open on Friday.

Adani Enterprises shares traded 8.78% higher at ₹1,747.85.

Adani Green Energy was up 5% to hit upper circuit at ₹562.00.

Adani Ports & SEZ was up 6.09% to trade at ₹661.45.

Adani Power shares jumped 5% to hit upper circuit at ₹169.45.

Adani Total Gas shares jumped 5% higher to ₹781.85.

Adani Wilmar was up 5% to trade at ₹418.30.

Adani Transmission shot up 5% to hit upper circuit at ₹743.35.

Ambuja Cement shares traded 2.17% higher at ₹378.30. ACC shares traded 2.40% higher at ₹1,845.90.

NDTV was up 5% to trade at ₹220.10.

Read next: Gautam Adani Reacts As Supreme Court Forms Panel To Probe Hindenburg Allegations: ‘Truth Will Prevail'

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
adani enterprisesAdani GreenAdani Groupadani ports & sezAdani TransmissionGautam AdaniGoldman Sachs Assets Management