Why Adani Group Stocks Are In The Green Today

Several Adani Group listed companies started the day in green on Wednesday after the Bombay Stock Exchange (BSE) revised price bands for several of the group’s stocks.

What Happened: The BSE late on Tuesday revised the price band for four Adani group companies: Adani Wilmar, Adani Green, Adani Transmission and Adani Power. The band for Adani Wilmar, Adani Green and Adani Transmission was revised from 5% to 10%. Adani Power’s price band was revised from 5% to 20%.

Another group stock, NDTV, was moved out of the short-term ASM framework. A company is put under the ASM framework by the exchanges to indicate to investors that a stock is seeing unusual and extreme volatility. Several group companies were put under the framework by the exchanges as they experienced extreme volatility after the Hindenburg report came out earlier this year.

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The stocks have however recovered quite a bit from the report-related fall. The Gautami Adani-led conglomerate has been trying to build back investor confidence. The group just this week announced that it had repaid loans worth around ₹22,000 crore ($2.65 billion).

Price Action: Here is how Adani Group stocks traded in the early hours of trading on Wednesday.

Adani Enterprises shares traded 0.92% higher at ₹2,456.

Adani Green Energy was up 0.71% to trade at ₹999.90.

Adani Ports & SEZ was up 0.53% to trade at ₹749.35.

Adani Power’s share price jumped 3.78% to trade at ₹272.95.

Adani Total Gas shares were up 0.35% to trade at ₹680.90.

Adani Wilmar was up 1.38% to trade at ₹435.60.

Adani Transmission was up 1.35% to trade at ₹827.15.

Ambuja Cement shares traded 0.68% lower at ₹455.80. ACC shares traded 0.25% lower at ₹1,851.

NDTV was up 0.76% to trade at ₹238.

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Posted In: EquitiesMarketsAdani GreenAdani GroupAdani PowerAdani TransmissionAdani WilmarNDTV