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.

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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.

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