ADANI GROUP: All shares of Adani Group saw a jump of 5 to 16 percent on Friday.
Adani Group Shares: All the shares of Adani Group saw strong buying for the second consecutive day on Friday, March 2. Along with this, it was the fourth consecutive day that its market capitalization increased. In these 4 days, the market value of Adani Group has increased by about Rs 1.72 lakh crore. Out of this, an increase of Rs 68,430 crore has happened only today. This is the biggest jump in the market capitalization of Adani Group in a single day since the last 7 months, i.e. 1 August 2022.
The rally comes after a leading investment firm, GQG Partners, led by Rajeev Jain, bought a stake in some of Adani Group’s shares for Rs 15,400 crore. This stake was bought through a block deal on Thursday.
GQG Partners has invested in a total of four group companies. This includes Adani Enterprises, Adani Ports, Adani Transmission, and Adani Green.
Due to this, all the shares of Adani Group saw a jump of 5 to 16 percent on Friday. Group’s flagship company Adani Enterprises was the top gainer during the trade. It was followed by Adani Ports, Ambuja Cements, and ACC. Rest six stocks, which are not in the F&O segment, closed in the upper circuit of 5 percent.
A relief rally was also seen today in the shares of financial institutions that gave loans to this business group led by Gautam Adani. Due to this Nifty Bank closed strongly. Shares of SBI, which has given a loan of more than Rs 27,000 crore to Adani Group, rose 5 percent today. Apart from this, shares of Bank of Baroda (BoB), Punjab National Bank (PNB), IndusInd Bank (IndusInd Bank), and Axis Bank (Axis Bank) have also closed with good gains on Friday.
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