New Delhi:

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.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Shares of Adani Group firms surged after an Adani Group entity said that Gautam Adani and his aides have not been charged under the U.S. Foreign Corrupt Practices Act. File
| Photo Credit: Reuters

Equity benchmark indices Sensex and Nifty rebounded on Wednesday (November 27, 2024), driven by a sharp rally in Adani group stocks and fresh foreign fund inflows.

The BSE benchmark Sensex climbed 230.02 points, or 0.29%, to settle at 80,234.08. During the day, it surged 507.09 points, or 0.63%, to 80,511.15.

The NSE Nifty rose 80.40 points, or 0.33%, to 24,274.90.

From the 30-share Sensex pack, Adani Ports surged 6%. NTPC, HDFC Bank, Bajaj Finance, Maruti and Axis Bank were among the other gainers.

In contrast, Titan, State Bank of India, Asian Paints, Tata Consultancy Services, HCL Tech, Sun Pharma, IndusInd Bank, and ICICI Bank were among the laggards.

Shares of Adani Group firms, including Adani Power, Adani Total Gas, Adani Enterprises, Adani Energy Solutions, and Adani Green Energy, surged after an Adani Group entity said on Wednesday (November 27, 2024) that Gautam Adani and his aides have not been charged under the U.S. Foreign Corrupt Practices Act, adding that they faced three other charges, including securities and wire fraud that are punishable with monetary fines.

Some of the group firms hit their upper circuit limits.

Foreign Institutional Investors (FIIs) bought equities worth ₹1,157.70 crore on Tuesday (November 26, 2024), according to exchange data.

In Asian markets, Shanghai and Hong Kong settled in the green, while Seoul and Tokyo ended lower.

European markets were trading mostly lower. The U.S. markets ended in positive territory on Tuesday (November 26, 2024).

Global oil benchmark Brent crude climbed 0.63% to $73.23 a barrel.

On Tuesday (November 26, 2024), the BSE benchmark declined 105.79 points, or 0.13%, to close at 80,004.06. The Nifty dipped 27.40 points, or 0.11%, to 24,194.50.