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. The total market valuation of the 10 Adani Group companies rose to Rs 10.96 lakh crore on Friday, according to stock exchange data. At the close of trade on Thursday, the market valuation of all companies stood at Rs 10.51 lakh crore. Market experts say that the rise in share prices is due to increased interest of global investors. Investors seem to have overtaken Deloitte’s recent issue. The head of research of a domestic brokerage company said that adani group shares have seen strength in the last few days.
This is how the analysis happened
The market has analysed emerging developments and available data. In addition, the process of raising funds at the collective level remains strong and project execution is proceeding seamlessly, there is a strong sense of confidence in the operational capabilities of the group. The shares are poised to profit in the near term. The research head said the measures taken by the promoters to build trust have also helped. He said the recent acquisitions by long-term investors GQG Partners and Qatar Investment Authority were positively taken as the promoter group has abundant capital after these deals. It has left all concerns behind – be it Hindenburg or Deloitte.
Because of this, there was a boom
Shares of all the 10 listed companies of the Adani Group closed on a positive note on Friday. Among them, Adani Power gained 6.34 per cent, Adani Green Energy 6.7 per cent and Adani Energy Solutions gained 6 per cent. Shares of adani enterprises, the group’s flagship firm, rose 3.93 per cent to take its market valuation to Rs 2,93,789 crore. Among other major gainers, shares of Adani Ports and Adani Total Gas rose 3.2-3.2 per cent on Friday.
