Adani Enterprises zooms 43% in 5 days; group mcap jumps over ₹1.42 lakh crore

Shares of Gautam Adani's flagship entity, Adani Enterprises, have rallied 43.28 17 per cent in the last five days amid positive news flows about the company.

In three trading sessions, the combined market valuation of the ten listed companies have jumped more than ₹1.42 lakh crore.

Adani Enterprises jumped nearly 17 per cent to settle at ₹1,879.35 on the BSE on Friday after US boutique investment firm GQG Partners' 15,446 investment in group stocks. During the day, it jumped 18.56 per cent to ₹1,905.

Besides, stocks of Adani Ports rallied 9.81 per cent, Ambuja Cements climbed 5.70 per cent, ACC advanced 5.11 per cent, Adani Transmission jumped 5 per cent, Adani Green Energy rose 5 per cent and Adani Total Gas gained 5 per cent.

Shares of Adani Power jumped 4.99 per cent, Adani Wilmar climbed 4.99 per cent and NDTV went up 4.98 per cent.

Most of the Adani Group companies also hit their upper circuit limits in Friday's morning trade.

All Adani stocks surged after GQG bought shares worth ₹15,446 crore in four of the group companies, the first major investment in the conglomerate since a short-seller's critical report sparked a stock rout.

In an phone interview with Bloomberg, GQG Chairman Rajiv Jain said he first looked at Adani companies more than five years ago but decided they were not enough of a “bargain" at that time.

Adani Group will hold road shows this month in London, Dubai and several cities in the US, according to a Reuters report.

The meetings are scheduled for Dubai on 7 March, London on 8 March and multiple US locations between 9-15 March, the document revealed.

Adani Group companies ended in the positive territory on Wednesday and Thursday as well.