Adani group stocks gain 30% in five sessions, adds Rs 2 lakh crore in Mcap

Stocks linked to Adani group extended their gains for a fifth session on Monday, adding over Rs 2 lakh crore in market capitalisation during the same period. Interestingly, more than half of the gains came after US-based GQG Partners ploughing $1.9 billion into four group companies. The surge in group stocks also signals the conglomerate’s efforts to win back investor confidence is gaining traction.

Moreover, the foreign flows from GQG Partners’ on investments in Adani Group stocks and a similar block trade worth Rs 954 crore in Delhivery has also boosted the Indian currency. A day before GQG deal, SoftBank had sold 3.85% stake in Gurgaon-based logistics firm Delhivery through bulk deals. The local currency has gained over 1 percent against the greenback during the last one week.

While the flagship Adani Enterprises rallied the most with 66% gains, other group stocks such as Adani Green Energy, Adani Ports, Adani Power, Adani Wilmar and NDTV have clocked gains anywhere between 22% to 28%. In absolute terms, the market capitalisation of Adani Enterprises swelled as much as Rs 90,000 crore whereas Adani Ports saw its market valuation surging nearly Rs 28,000 crore since February 28.