Adani Share Price Update: Most Adani Group Stocks Witness Rally, Investors Become Richer By Rs 20,000 Crore

Most Adani group shares traded in the green on Tuesday amidst positive trading on Dalal Street. Adani group's flagship firm Adani Enterprises shares were seen trading 3.05% higher at Rs 2214.55 per share at 12:41 pm IST today. The share price of Adani Wilmar, Adani Total Gas, and Adani Energy Solutions was up almost 2%, while the share price of New Delhi Television Ltd. gained 1.28% in the intraday trading.

The positive trading in Adani group stocks added over Rs 20,960.2 crore in investor wealth in intraday trading. At one point during the day, the total market capitalisation of Adani group stocks reached Rs 10.4 lakh crore, making it a positive the for the group companies.

Why the rally in Adani group stocks including Adani Enterprises and Adani Wilmar?

The positive movement in Adani group stocks was seen as the broader market traded in the green today. At 1:33 pm IST today, Sensex was up 0.50% at 65,982.45 points while Nifty 50 was up 0.53% at 19,798.70 points. Besides, positive updates by Adani group companies including Adani Enterprises and Adani Wilmar also contributed to the rally in shares of Adani group companies.

Adani Enterprises shares saw an uplift after the company informed via an exchange filing on Monday that its step-down subsidiary Mumbai Travel Retail Private Limited has completed the incorporation process of its wholly owned subsidiary namely "MTRPL Macau Limited" (MML) in Macau on November 20, 2023.

Adani Wilmar:

The share price of Adani Wilmar was up 3.55% at Rs 320.90 per share at 1:36 pm IST today. The stark rise in Adani Wilmar shares was seen after the company issued a clarification with respect to the stock price movement. In an exchange filing on Monday, the company said, "We would like to clarify that the movement in the share price of the company is purely due to market conditions and absolutely market driven and the management of the Company neither has any control nor has any knowledge of reasons for movement in price of shares."

Share price performance of other Adani group stocks:

Adani Total Gas shares were up 2.16% at Rs 542.65 per share at 12:59 pm IST, while the share price of New Delhi Television Ltd. was up 1.28% at Rs 193.65 per share at 1 pm IST. Adani Energy Solutions Ltd. was up 1.64% at Rs 738.75 per share in the intraday trading.

The share price of Adani Ports And Special Economic Zone (APSEZ) was up 0.29% at Rs 805.00 per share and Adani Power shares were up 1.22% at Rs 394.65 per share at 1:43 pm IST on Tuesday.