Shares of Adani Total Gas and Adani Green Energy Reach Upper Circuit, Jump by 10%


In Tuesday’s trading, shares of Adani Green Energy Ltd reached a 10% upper circuit of Rs 1,089.15. On July 31, the company’s board of directors would meet to discuss and approve the financial results for the quarter ending in June 2023 (Q1 FY24). On the BSE, over 5.74 lakh shares were traded today, significantly more than the two-week average volume of 67,000. The counter had a market capitalization (m-cap) of 1,72,524.90 crore rupees and a turnover of 60.07 crore rupees.

Adani Total Gas Ltd. increased 5% to reach its maximum price range of Rs. 662.45. Today’s gains were also seen in all other stocks of the energy-to-ports business group. Adani Power Ltd. jumped 9.91% to reach Rs 261.65 as its day high.

Adani Transmission increased 8.60% to Rs 839.90. On July 31, the business is also expected to release Q1 results.

Adani Wilmar Ltd’s stock price increased by 5.10%. In late trades, the group’s main companies Adani Enterprises and Adani Ports were also trading higher.

Separately, US-based investment company Bain Capital announced that it has reached an agreement to buy out the entire private stake held by the Adani family in the company by acquiring 90% of Adani Capital and Adani Housing.

According to Bain, Gaurav Gupta would keep his remaining 10% ownership in Adani Capital and continue to lead the company as managing director and CEO. Adani Capital will be positioned as an independent entity through the acquisition, which is anticipated to finalise in the fourth quarter of this year, in order to increase lending, it continued.

“With Bain committing Rs 1,000 crore of capital in the company, we are now equipped to grow 4x from here,” Gupta said in a statement.

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