Buoyed by the investment by US-based GQG, the beleaguered Adani group saw an increase in market value for a second straight week. The 10 group stocks added Rs 75,263 crore in market capitalisation this week to Rs 9.3 trillion. This despite some group companies, including flagship Adani Enterprises, shedding some gains amid weakness in the overall market in the past two trading sessions.
In the past fortnight, the Adani group has added over Rs 2.1 trillion in market value.
Star fund manager Rajiv Jain-led GQG’s $1.9 billion share purchase in four group firms from Adani promoters has eased concerns around high debt levels. Further, the move by the promoters to revoke pledged shares has also helped revive sentiment. After Hindenburg Research’s report on January 24, the group had shed over Rs 12 trillion in market cap.
| Time Frame | Mar 10, 2023 | Change YTD | Change Jan 24 | Change 1Day | ||||
| Company | Mcap ( Rs Trn) | Price in Rs | Price in % | Mcap Rs Trn | Price in % | Mcap Rs Trn | Price in % | Mcap Rs Trn |
| Adani Enterprises Ltd | 2.16 | 1,896.5 | -50.9 | -2.24 | -44.9 | -1.76 | -2.9 | -0.1 |
| Adani Ports & Special Economic | 1.51 | 697.9 | -14.7 | -0.26 | -8.3 | -0.14 | 0.1 | 0.0 |
| Ambuja Cements Ltd | 0.75 | 378.4 | -27.8 | -0.29 | -24.1 | -0.24 | -1.7 | 0.0 |
| Adani Total Gas Ltd | 1.04 | 950.2 | -74.3 | -3.02 | -75.5 | -3.23 | 5.0 | 0.0 |
| ACC Ltd | 0.35 | 1,847.2 | -24.3 | -0.11 | -20.9 | -0.09 | -0.7 | 0.0 |
| Adani Green Energy Ltd | 1.08 | 683.1 | -64.6 | -1.98 | -64.3 | -1.95 | 5.0 | 0.1 |
| Adani Wilmar Ltd | 0.59 | 453.3 | -26.6 | -0.21 | -20.9 | -0.16 | -4.5 | 0.0 |
| New Delhi Television Ltd | 0.02 | 233.8 | -32.4 | -0.01 | -17.7 | 0.00 | -4.9 | 0.0 |
| Adani Power Ltd | 0.79 | 205.3 | -31.4 | -0.36 | -25.3 | -0.27 | 4.7 | 0.0 |
| Adani Transmission Ltd | 1.01 | 903.9 | -65.1 | -1.88 | -67.2 | -2.07 | 5.0 | 0.0 |
| Total | 9.30 | – | – | -10.36 | – | -9.90 | – | 0. |
Source Bloomberg/Exchange
Compiled by BS Research Bureau