Adani Enterprises, Adani Green, Adani Ports, Adani Energy: Adani Shares Trading In Green Today

Shares of most Adani group firms traded in the green on Monday (January 29) after there were important updates by the Gautam Adani-led companies. The share price of Adani group stocks including Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy, and Adani Energy Solution rallied up to 5% in today's intraday trade.

Adani Enterprises:

Today, the share price of Adani Enterprises was up 5.40% at Rs 3050.85 per share at 11:05 am IST. The drastic jump in Adani Enterprises shares was seen after the brokerage firm Cantor Fitzgerald said that it expects Adani Enterprises shares to rise 50%, adding that India's path to self-reliance runs through the Adani Group. The brokerage has given an "overweight" rating to the stock with a price target of Rs 4,368, suggesting a potential upside of 50% from Thursday's closing levels.

Adani Green Energy:

Shares of Adani Green Energy traded 2.96% higher at Rs 1713.85 per share at 11:10 am IST today. Adani Green Energy shares rallied after the firm said that it has completed funding of the reserves for the USD 750 million Holdco Bond. In an exchange filing on January 29, the company said, "Adani Green Energy Limited (AGEL) has completed the funding for the USD 750 million 4.375 notes due 09 September 2024 (Holdco Notes) with the receipt of the funds under the preferential allotment of INR 9,350 Cr (USD 1,125 million) to the promoters of AGEL.

"The shareholders of AGEL, approved the preferential allotment with overwhelming 99.9% majority on 18 January 2024 and thereafter the promoters funded INR 2,338 Cr (USD 281 million) primary infusion into AGEL last week. AGEL has set aside the funds in the Senior Debt Redemption Account (SDRA) and other reserve accounts of the Holdco Notes, post which the funding of the reserves has been completed," it added.

Adani Ports:

Adani Ports shares traded 4.30% higher at Rs 1195.90 per share at 11:01 am IST today. Recently, the Adani group firm said that the S&P Global Ratings has re-affirmed its investment grade rating for the company to 'BBB-' and has changed the outlook to STABLE from negative.

Adani Energy Solutions:

Shares of Adani Energy Solutions traded 5.62% higher today at Rs 1119.90 per share at 10:56 am IST. The Adani group firm said that it has incorporated a wholly owned subsidiary company in the name of "Adani Energy Solutions Step-Twelve Limited."

According to the company, the new incorporation has been made for the transmission, distribution, and supply of power and other infrastructure services relating thereto.
As per the exchange filing, the company has acquired equity shares are acquired at a face value of Rs.10/- each.