Adani Group gains, market valuation rises by Rs 45,200 crore

Mumbai The market valuation of industrialist Gautam Adani’s group companies increased by Rs 45,200 crore on Friday. The reason for this is the rise in the shares of all the 10 listed companies of the group on the confidence of global investors. According to stock market data, the total market valuation of 10 Adani group companies stood at Rs 10.96 lakh crore on Friday. The market valuation of all the companies at the close of business on Thursday was Rs 10.51 lakh crore.

Market experts say that the rise in share prices is due to increased interest from global investors. Investors seem to have put Deloitte’s recent issue behind them. The head of research at a domestic brokerage company said, “Adani Group shares have seen gains in the last few days. The market has analyzed the emerging developments and available data. “Additionally, with the group raising funds remaining robust and project execution progressing smoothly, there is a strong sense of confidence in the group’s operational capabilities. The shares are poised for gains in the near term.”

The research head said that the measures taken by the promoters to build trust have also helped. “The recent acquisitions by long-term investors GQG Partners and Qatar Investment Authority were taken positively as the promoter group has abundant capital following these deals. It has superseded all concerns – be it Hindenburg or Deloitte.” Shares of all the 10 listed companies of the Adani Group closed in good numbers on Friday. Among these, Adani Power gained 6.34 per cent, Adani Green Energy 6.7 per cent and Adani Energy Solutions gained 6 per cent. Shares of group flagship company Adani Enterprises rose 3.93 per cent, taking its market valuation to Rs 2,93,789 crore. Other major gainers included Adani Ports and Adani Total Gas, which gained 3.2 per cent each on Friday.

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