Adani Share Price: Supreme Court Decision Sparks Impressive Surge in Share Prices
Adani Share Price Update:
The stock market for Adani Group witnessed a remarkable surge in early trading this Wednesday. The prices of all Adani Group stocks had already risen ahead of a crucial Supreme Court decision. Several Adani stocks showed a significant boost of 10 to 16 percent during the early trading session, reaching a ‘high’ after the decision was announced around 10:45 AM.
The most significant gains were observed in the following stocks:
– Adani Energy Solutions saw the highest increase, rising by an impressive 16 percent in the initial session.
– Adani Total Gas and NDTV stocks also experienced a rapid surge of 10 percent each.
– Adani Wilmar and Adani Green maintained robust gains, ranging from 7 to 8 percent.
The flagship stock of the Adani Group, Adani Enterprises, also witnessed a surge of over 7 percent in early trading. Adani Ports showed an approximately 6 percent increase, while Adani Power remained strong with a 5 percent gain. Both cement stocks of the group, ACC and Ambuja Cements, rose by 3 percent each.
As of 10:00 AM, here’s a snapshot of the current status Adani Share :
| Company/Stock | Initial Price (INR) | Change (%) |
| Adani Enterprises | 3165 | (7.95%) |
| Adani Green | 1730.65 | (7.99%) |
| Adani Ports | 1138.70 | (5.70%) |
| Adani Power | 544.60 | (4.98%) |
| Adani Energy Solutions | 1230.45 | (15.99%) |
| Adani Wilmar | 394.50 | (7.53%) |
| Adani Total Gas | 1100.65 | (10.00%) |
| ACC | 2330.25 | (2.75%) |
| Ambuja Cements | 547.00 | (3.15%) |
| NDTV | 300.60 | (10.58%) |
The significant surge in Adani Group stocks is closely tied to an impending decision by the Supreme Court, which is expected to conclude a year-long investigation into the Hindenburg case. Last year, Hindenburg Research, an American short-seller firm, had levied serious allegations against the Adani Group in January. The subsequent report had a profound impact, causing a substantial dip in the group’s Adani share prices.
The accusations had also sparked political controversies in the country. Following this, market regulators initiated an investigation into the claims against the Adani Group. The Supreme Court had been monitoring the investigation, and several petitions related to it were filed. The decision, awaited since November 24, is set to be revealed soon.
It’s worth noting that Chief Justice N.V. Ramana’s bench had decided to keep the decision confidential when it was pronounced on November 24. The outcome is eagerly anticipated and is likely to have a significant impact on the future trajectory of Adani Group stocks in the market.
1 COMMENTS