Why These 2 Adani Stocks Are Upbeat Today

Shares of Adani Total Gas and Adani Ports were trading higher in early trade on Thursday.

What Happened: Adani Total Gas’s share price is up today as the company on Wednesday evening announced bagging a word order from Ahmedabad Municipal Corporation. The work order is to design, build, finance and operate a 500 tonnes per day capacity bio-CNG (CBG) plant on the PPP Model (Public-Private Partnership) at Pirana/Gyaspur, Ahmedabad.

See Also: ITC Missed A Biscuit In A Packet Of Marie And That Cost Them A Lakh

Adani Ports’ share price, on the other hand, is upbeat today as global brokerage firm CLSA maintained its “buy” rating on the stock with a target price of ₹878. The brokerage said that the Adani Group company was on its way to report a strong Q2, despite slowing global trends.

The firm pointed out that the company’s August traffic was up 17% year-on-year. The brokerage added that the Mundra port saw a resurgence clocking in all-time high traffic last month.

Price Action: Adani Total Gas’s share price was up 1.50% to trade at ₹654.40. Adani Ports’ share price was up 0.12% to trade at ₹808.50 as the markets opened on Thursday.

Read Next: Tata Power vs Adani Power: Which Stock Gave Better Returns In The Past 3 Years?

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.

Posted In: NewsPrice TargetContractsReiterationAnalyst RatingsMoversTrading IdeasAdani GroupAdani PortsAdani Total Gas