Adani Stocks surge up to 8%; Adani Green, Adani Wilmar among top gainers
The gains in Adani Green Energy were following the company's announcement that its wholly-owned step-down subsidiary Adani Renewable Energy Fifty Nine Limited has entered into power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for the supply of 534 MW of solar power projects
surged up to 8% in Thursday's early trade after a Wednesday rout. The top gainer in the pack was Energy which hit the day's high of Rs 1,875 on the NSE. It was followed by and which were up 7%, each.The gains in Adani Green Energy were following the company's announcement that its wholly-owned step-down subsidiary Adani Renewable Energy Fifty Nine Limited has entered into power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for the supply of 534 MW of solar power projects
With the execution of these PPAs, AGEL now has a total renewable energy project portfolio of 21,778 MWac capacity, the filing said.
Nifty constituents and Adani Ports & Special Economic Zone gained nearly up to 3%. Others including , Adani Wilmar, , , and New Delhi Television (NDTV) went up by up to 2.44% around 9:50 am.
After erasing nearly Rs 90,000 crore from the combined market capitalisation of the 10 listed stocks. The top loser in the day's trade was Adani Green Energy which lost 13% to hit the day's low of Rs 1,650 on the NSE. It was followed by Adani Total Gas and Adani Energy Solutions which fell nearly 8% on the intraday basis.
Today's gains were despite the flat trade in the headline indices Nifty and S&P BSE Sensex around this time. While the former was trading at 21,998, the latter was hovering near 72,713, down 48 points or 0.07%.
On Wednesday, all the 10 Adani-owned stocks fell amid weakness in the overall markets. Adani Green Energy had settled 13% lower with the combined market cap erosion of Rs 90,000 crore.
Also Read:
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Source: Stocks-Markets-Economic Times
