Adani Stocks Surge - Adani Total, Adani Power, Adani Enterprises Up Over 5%

Adani group stocks were in the limelight on Tuesday, with Adani Enterprises, Adani Total Gas and Adani Power, surging more than 5 per cent each.

Shares of Adani Enterprises, billionaire Gautam Adani-led group's flagship firm, rallied 5.43 per cent on the BSE.

The stock of Adani Total Gas zoomed 5.50 per cent, Adani Power surged 5.49 per cent, Adani Green Energy jumped 4.34 per cent and ACC soared 4.17 per cent.

Shares of Ambuja Cements went up by 3.90 per cent, Adani Energy Solutions advanced by 3.07 per cent, Adani Wilmar (2.20 per cent), Adani Ports (1.89 per cent) and NDTV (1.87 per cent).

The combined market valuation of all the 10 listed firms stood at Rs 15,86,018.55 crore.

In the equity market, the 30-share BSE Sensex climbed 328.48 points, or 0.45 per cent, to settle at 73,104.61. The NSE Nifty went up 113.80 points, or 0.51 per cent, to 22,217.85.

Adani Enterprises Ltd (AEL) that has interests spanning from new energy to airports and data centres, plans to spend Rs 80,000 crore across businesses in the current financial year, a senior company executive said.

A bulk of the capital expenditure planned for 2024-25 (April 2024 to March 2025) fiscal will be on new energy businesses and airports, said Saurabh Shah, AEL deputy chief financial officer, at an analyst call, a transcript of which was released by the company.

"We are looking at a capex of about Rs 80,000 crore in FY25, out of which a major part...will go in ANIL and airports business which take up about Rs 50,000 crore of capex," he said.

ANIL is Adani New Industries Ltd which makes solar modules that convert sunlight into electricity, and green hydrogen.
 

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