Adani Group Continues Recovery March, All Listed Companies Open In Green: Here's Why

All Adani Group stocks opened in the green as the markets opened for business on Friday as the companies continued recovery.

What Happened: The group received some positive news on Thursday as the exchanges announced that three of the group’s companies will be moving out of the short term short-term additional surveillance measure (ASM). The BSE and the NSE announced that Adani Enterprises, Adani Wilmar, and Adani Power will move out of the ASM framework from March 17.

A company is put under the ASM framework by the exchanges to indicate to investors that a stock is seeing unusual and extreme volatility. The group companies have remained extremely volatile since the Hindenburg report came out in January.

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The company also issued a clarification on news reports stating that Gautam Adani‘s elder brother Vinod Adani owned the group’s cement businesses. The group in an exchange filing said that Vinod Adani is a promoter of the group. The group in January had said that Vinod Adani does not hold any managerial position in the group entities.

Price Action: Here is how the group stocks traded at market open on Friday.

Adani Enterprises shares traded 2.71% higher at ₹1,889.65.

Adani Green Energy was up 5% to hit the upper circuit at ₹816.80.

Adani Ports & SEZ was up 1.10% to trade at ₹686.20.

Adani Power shares jumped 2.64% to ₹203.10.

Adani Total Gas shares jumped 2.34% to ₹909.20.

Adani Wilmar was up 2.86% to trade at ₹433.

Adani Transmission shot up 3.72% to ₹1,012.00.

Ambuja Cement shares traded 1.03% higher at ₹381.70. ACC shares traded 0.043% lower at ₹1,753.90.

NDTV was up 1.75% to trade at ₹212.75.