Adani Group’s dream-run continues on the bourses; Adani Total hits new high

The dream run of Gautam Adani-led group companies continued on the bourses on the first day of the new financial year 2021-22 with Adani Transmission and Adani Total Gas stocks hitting their respective new highs, while Adani Enterprises was trading close to its record high.

Besides these stocks, Adani Power, Adani Green Energy (AGEL) and Adani Ports and Special Economic Zone were trading higher in the range of 2 per cent to 6 per cent. In comparison, the S&P BSE Sensex was up 0.28 per cent at 49,646 points at 12:09 pm.

Gautam Adani family-controlled was the biggest gainer on the bourses in 2020-21, amid the sharp surge in equity in a post-pandemic rally.

The seven listed companies had a combined market capitalisation (m-cap) of Rs 6.7 trillion on Tuesday — up more than 5x from the group’s m-cap of Rs 1.31 trillion at the end of March 2020. READ ABOUT IT HERE

In the past one year, Adani Total Gas has seen its market value appreciate by 1,012 per cent, while that of Adani Enterprises has soared by 707 per cent. This was followed by AGEL (657 per cent), Adani Transmission (390 per cent), Adani Power (233 per cent) and Adani Ports (195 per cent). In comparison, the S&P BSE Sensex has rallied 75 per cent during the period.

In Thursday’s session, shares of Adani Enterprises soared 6 per cent to Rs 1,092 on the BSE in the intra-day trade. They were trading close to its record high of Rs 1,093, touched on March 24. The company has a current portfolio of robust businesses. The next-generation of its strategic business investments are centred on the fields of solar PV manufacturing, airport management, technology parks, and water infrastructure.

On Wednesday, the company announced that Adani Road Transport (ARTL), a wholly owned subsidiary (WOS) of the company, incorporated WOS, Kodad Khammam Road Private Limited, to carry out the development, maintenance and management of the highway project.

Last month, ARTL had won a highway project worth Rs 1039.90 crore from the National Highway Authority of India (NHAI) in Telangana. With this project award, will have a total of eight NHAI road projects under Hybrid Annuity Mode (HAM) and Toll-Operate-Transfer (TOT) in the states of Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala and Gujarat.

In another development, media reports suggest that Adani Wilmar, a 50:50 joint venture of the Adani Enterprises with Wilmar International, Singapore, have hired investment banks and legal advisers to start work on its initial share sale. On the proposed listing of Adani Wilmar, the company clarified that it regularly evaluates all opportunities across its various businesses with the objective of enhancing shareholder value and this may involve discussions with various parties and stakeholders at different points in time.

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