Adani Group’s shares are witnessing a significant rise in the last two trading sessions. The stock of the company has gained about 39% in the last two days.
On Tuesday, the stock of Adani Enterprises closed at Rs 1,364 with a gain of 14.22%. Today, the stock of Adani Enterprises is trading around Rs 1,550 with a strength of about 14%. Today, the share of Adani Enterprises had also gone up to Rs 1,568 in intraday.
What is the reason for the acceleration?
In order to reduce the serious allegations of short seller Hindenburg Research, the company has done a roadshow to attract fixed income investors from Asia. According to Bloomberg, about a dozen global banks hosted investor meetings on Monday at the Capital Kempinski Hotel in Singapore.
Along with this, Adani Group Chairman Gautam Adani also held a meeting at the Barclays office in Hong Kong on Tuesday.
The company is again trying its best to win the confidence of investors in the market, the effect of which is visible on the company’s stock. In the last two days, the market cap of Adani Group has increased by Rs 39,000 crore.
Odisha bauxite bid won only yesterday
The company informed through an exchange filing on Tuesday itself that its subsidiary company Mundra Aluminum Limited has won the bid for Odisha’s Kutrumali bauxite block. According to geological sources, there is an estimate of 128 million tonnes of bauxite in this mine. The effect of this news is also being read on the stock of the company.
What is the condition of other stocks of Adani Group?
Adani Group Stocks Advance In Trade
On Wednesday, other shares of Adani Group are also trading strongly. There is strength in all the 10 stocks of the company. NDTV, Adani Wilmar, Adani Power, Adani Green Energy and Adani Transmission have hit upper circuit after 5% strength. On the other hand, Adani Enterprises is trading with the maximum strength of 13.9%.
