Adani Group companies' stocks added nearly Rs 27,000 crore to investors' wealth
Adani Group companies' stocks added nearly Rs 27,000 crore to investors' wealth as most stocks gained in trading this morning.
The market capitalisation of Adani Group firms rose Rs 26,894.46 crore to Rs 13.55 lakh crore at 11.03 am.
The Adani Group companies' stocks rose 9 per cent.
The group is in early talks to refinance loans worth $1.1 billion.
Nomura had earlier this week said the stocks of Adani companies were the most attractive compared to other Indian companies.
Nomura said the Gautam Adani-led conglomerate can easily face recent turmoil caused by legal issues connected with the US Department of Justice. This is because the Adani Group's liquidity management has improved, Nomura said.
Adani Green Energy Ltd and Adani Power Ltd were leading the gains among other stocks. Adani Green Energy Ltd jumped 7.38 per cent to Rs 1,232.80 apiece, the highest level since December 9. It was trading 6.42 per cent higher at Rs 1,221.75 apiece as of 11.08 am.
Adani Power Ltd share price rose as much as 5.11 per cent to Rs 545.80 apiece, the highest level since December 6. It was trading 4.36 per cent higher at Rs 541.90 apiece as of 11.09 am.
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