– Adani Group stocks have jumped significantly, hitting new highs in the stock market. – This comes after a tough period following the Hindenburg Research report.
– Adani Group's total market value is now over 20.01 lakh crore. – This means they have recovered the $100 billion loss from the Hindenburg report.
– Adani Power Ltd led the way, rising by 18%. – The stock price reached Rs 890.40, with a market value of over Rs 3.43 lakh crore.
– Adani Ports, soon to join the BSE Sensex, jumped 12% to Rs 1,607.95. – Adani Enterprises Ltd increased by 10%, with a market value over Rs 4.26 lakh crore.
– Adani Energy Solutions, Adani Green Energy, and Adani Total Gas each went up by about 10%. – Adani Wilmar rose more than 7%, Ambuja Cements and ACC both increased by 5%. – NDTV's stock also rose by more than 11%.
– Gautam Adani's wealth has increased by over $30 billion in 2024. – He is now the richest person in Asia, with a total wealth of $111 billion.
– The stock surge is partly because exit polls predict a win for the NDA, led by Prime Minister Narendra Modi. – Investors see political stability as a good sign for the market.
– In FY24, Adani Group reported a record EBITDA growth of 45%, reaching Rs 82,917 crore (about $10 billion). – This shows the strength and stability of their businesses.