Adani’s shares continue to fly, upper circuit on four shares as soon as it opens

Adani Share Price: Shares of Adani Group are known for making their investors rich. The Group’s shares have consistently given returns beating the market movements. Although this trend was suddenly reversed for some time in the recent past, but now again these stocks have regained their old momentum. After the Holi holiday, as soon as the market opened on Wednesday, four shares of Adani Group got upper circuit.

All 10 stocks up

As soon as the market opened today, most of the shares of the group jumped. Four shares of the group, Adani Green, Adani Power, Adani Transmission and Adani Total Gas hit the upper circuit. At the same time, Adani Enterprises, the flagship company of the group, is also in a boom phase. There was a gain of about 02 percent in the initial trade. Adani Ports, Adani Wilmar and ACC also gained momentum, while shares of Ambuja Cements and NDTV opened in decline. However, in a few minutes of trading, all 10 shares of Adani Group reached the green zone.

Such is the initial business

continuous upper circuit

First of all, let us tell you that Adani Group Stocks have been in discussion since the beginning of this year. American short seller company Hindenburg released a controversial report in late January. Since then, the period of continuous decline in the shares of Adani Group (Adani Stocks Collapse) had started. However, for the last few days, Adani’s shares have continued to rise and have jumped up to 95 per cent from their 52-week low. For the last few days, many stocks of Adani Group are continuously hitting upper circuit in daily business.

Amazing return of this stock

Earlier in Monday’s trade, Adani Group’s six companies Adani Green, Adani Power, Adani Transmission, Adani Wilmar, Adani Total Gas and NDTV ( NDTV) shares were put under upper circuit. In the four consecutive days of trading till Monday, the shares of the group’s flagship company Adani Enterprises had gained the most by 95 per cent. This stock had at one time slipped to a low of Rs 1017.10.

Now Gautam Adani on this notch

In the Hindenburg Report released on January 24, several serious allegations were made against the Adani group, including manipulation of share prices. It was also said in the report that the shares of Adani Group are overvalued. After this, the shares of Adani Group started falling upside down in almost every business. In about a month, Adani Group’s shares had seen a huge fall of up to 80 percent and the mcap of the group had fallen by more than Rs 12 lakh crore. It also affected the net worth of the group’s chairman Gautam Adani. Gautam Adani, who once became the third richest person in the world, dropped out of the top-30 in the list of world’s richest people after the report came out. However, now Gautam Adani is ranked 24th in the Bloomberg Billionaires list with a net worth of more than $52 billion.

There is a lot of potential in Adani’s shares.

The Adani group has benefited from a big deal that took place last week. Australia-based NRRE investor Rajeev Jain’s company GQG Partners last week sold 04 shares of Adani Group Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy and Adani Rs 15,446 crore was spent on Adani Transmission. After this, the shares of Adani Group gained momentum. Jain says that in the long term, there is a lot of potential in the shares of Adani Group.