Adani Group Stocks Surged Up to 50% This Week

This week, the Adani Group stocks presented an impressive performance in the market, with Adani Total Gas leading the pack. This surge comes after a week of significant developments for the Adani Group stocks.

Starting the week of December 4, the NIFTY 50 index saw Adani Enterprises and Adani Ports registering significant hikes of 7.13% and 6.14% respectively.

StockOpenCloseWeekly MovementWeekly % Change

On December 5, Adani Green Energy Ltd secured a $1.4 billion loan for the world’s largest green energy park, boosting its shares by 20%. On the same day, Adani Ports’ share price surged by over 12%.

On December 6, the Adani Group stocks continued their strong performance. The same day, Life Insurance Corp’s investment in the Adani Group companies effectively doubled in value since the Hindenburg report-driven lows.

On December 7, Adani Ports was reported to be in talks to acquire Gopalpur Ports in Odisha from the Shapoorji Pallonji Group, potentially marking Adani Port's sixth acquisition of a multi-purpose facility on the eastern coast.

See Also: How This Former Apple Employee Went On To Become The Brain Behind Adobe’s Global Empire

Adani Total Gas Ltd. opened at ₹770.00 on Monday and surged to ₹1,156.80 by market close on Friday. The stock recorded a whopping weekly movement of ₹386.80, marking a stellar 50.23% increase.

Following ATGL, the Adani Green Energy stock also showcased a significant uptick. The stock moved from its Monday opening price of ₹1,160.00 to ₹1,550.30 on Friday, achieving a 33.65% weekly jump.

Another star performer was Adani Enterprises Ltd which started the week at ₹2,549.95 and closed at ₹2,822.15 on Friday. The stock registered a considerable weekly movement of ₹272.20, translating into a 10.67% increase.

The Adani Ports also performed well. It opened at ₹865.00 on Monday and moved to ₹1,022.95 by the end of the week, marking an 18.26% increase.

Despite not being the highlight of the week, Ambuja Cements too had a positive week, with its stock price rising from ₹460.00 to ₹494.35, a 7.47% increase.

Read Next: SEBI Set To Introduce Same Day Trade Settlements Soon’: Here’s What It Means For Traders

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

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: EquitiesMarketsMoversTrading Ideasadani enterprisesAdani GroupAdani PortsAdani Total Gas