Adani group to invest Rs 500 cr in warehouses, power sector in Uttarakhand
According to the group, its investment plans aim to provide storage facilities for the coarse grains and horticulture produce in the state.
The shares of Adani Group’s portfolio of companies made a strong comeback on Wednesday, led by Adani Green Energy and Adani Ports, as the stock markets recovered from Tuesday’s losses.
Nine of the 10 listed Adani companies ended with gains, led by Adani Green Energy at 11.01 per cent, and Adani Ports and Special Economic Zone at 8.59 per cent.
Ambuja Cements jumped 7.47 per cent and the flagship Adani Enterprises zoomed up 6.02 per cent. While ACC stock went up 5.20 per cent, NDTV jumped 3.26 per cent, and Adani Total Gas climbed 2.67 per cent.
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The shares of Adani Wilmar climbed 0.77 per cent and Adani Power went up by 0.32 per cent.
The combined market valuation of the Adani Group companies stood at over Rs 15,57,765 crore. On Tuesday, the Adani Group companies saw heavy losses as stock markets tanked amid political uncertainty. However, the portfolio gained significantly on Wednesday as investors gained over Rs 12 lakh crore in the market in a single session.
On Monday, the Indian indices had gained over Rs 12 lakh crore, or 3.25 per cent as fundamentals, technicals and sentiments turned favourable at the same time.
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