Seven Adani Group Stocks End Higher; Adani Enterprises Jumps 2%

Shares of seven Adani Group companies out of the ten listed entities settled higher on Friday, with Adani Enterprises jumping 2 per cent amid a positive momentum in equity markets. At the close of the session, seven of the group firms including Adani Enterprises closed in the green territory while three were in the red. Shares of Adani Enterprises climbed 1.88 per cent to settle at Rs 1,877.15 per scrip on BSE. The flagship firm's market valuation rose to Rs 2.13 lakh crore.

Adani Transmission closed at Rs 1,024.85 and Adani Green Energy at Rs 816.80. The scrip of these companies bounced 5 per cent each and also closed at their upper price bands on the bourse. Shares of Adani Wilmar jumped 1.52 per cent to end at Rs 427.35 apiece, Adani Total Gas rose 1.07 per cent to settle at Rs 897.95 and Adani Power went up 0.60 per cent to close at Rs 199.95.

Also, shares of Adani Ports and Special Economic Zone (APSEZ) gained 0.14 per cent to settle at Rs 680.10 per scrip on the BSE. On the other hand, NDTV declined 1.63 per cent to close at Rs 205.70, ACC went lower by 1.39 per cent to settle at Rs 1,728.80 and Ambuja Cements fell 0.09 per cent to end at Rs 378.25 apiece on the exchange. 

Meanwhile, the 30-share BSE Sensex climbed 355.06 points or 0.62 per cent higher to settle at 57,989.90 points. The broader NSE Nifty rose 114.45 points or 0.67 per cent to close at 17,100.05 points. On Thursday, stocks of six Adani Group companies out of the ten listed entities ended in the green territory amid a positive trend in the broader equity markets.

At the end of the session, the six group firms were settled in the green, while four closed in the red. The NSE and the BSE on Thursday announced that three Adani group firms -- Adani Enterprises, Adani Power and Adani Wilmar -- will be moved out from the short-term additional surveillance measure (ASM) framework from Friday.

After taking a beating on the bourses, following the report by US-based short seller Hindenburg Research, the group stocks had recovered. However, amid sluggish broader market trends, the group's stocks have declined in the last few trading sessions.The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it. The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.