Shares of most of the Adani group firms ended in the green, with flagship Adani Enterprises surging nearly 20 per cent. The stock, which crashed to a low of ₹1,017 on February 3 following Hindenburg’s scathing report, has doubled to ₹2,125 but still far away from its peak of ₹4,189.55.
Except Adani Green Energy, Adani Total Gas and ACC, all other stocks closed higher. While Adani Power, Adani Transmission, Adani Wilmar and NDTV closed at the upper circuit (a gain of 5 per cent), Adani Total Gas ended at the lower 5 per cent circuit. Adani Green Energy tumbled nearly 5 per cent to end at ₹801.75 (down 4.92 per cent).
Adani Ports and Special Economic Zone jumped 8.4 per cent at ₹599.45. Ambuja Cements rose 0.17 per cent to ₹384.35.
According to analysts, Adani stocks are slowly stabilising after a lot of reassurances from the group (like prepayment for bonds), banks and RBI’s comments of no systemic risks. Mitul Shah — Head of Research at Reliance Securities, said the group’s issues are slowly settling down and hence shares are inching northwards.