Adani companies’ shares soar up to 9% intraday; Adani Ent, Adani Gas hit new 52-week high

Section: Market 

Tags: Adani Enterprises, Adani Port, Adani Transmission 

Keywords: Adani Enterprises, Adani Port, Adani Transmission, Adani Green Energy, Adani Total Gas, Adani Enterprises share price, Adani Port share price, Adani Transmission share price, Adani Green Energy share price, Adani Total Gas share price, Adani Enterprises target, Adani Port target, Adani Transmission target, Adani Green Energy target, Adani Total Gas target 

The shares of Adani group of companies surge up to nine per cent on the BSE intraday on Wednesday, of which Adani Enterprises and Adani Total Gas touched their new 52-week high while other group companies’ shares are trading near lifetime high. 

Adani Enterprises and Adani Total Gas jumped by around nine and seven percent to Rs 1543 and 1540 per share respectively on the BSE intraday today, while other group companies such as Adani Transmission grew by around five per cent to Rs 1573 per share and Adani Power jumped over four per cent to Rs 99.4 per cent on the BSE intraday during Wednesday’s trade. 

Similarly, Adani Port and Adani Green Energy respectively soared by over 3 and 3.7 per cent respectively to Rs 824 and 1318 per share on the BSE intraday during today’s trade. 

Adani group stocks have been surging since the last two sessions on the exchanges. Adani Enterprises alone soared over 17 per cent in three days, hitting new 52-week highs on Tuesday and Wednesday, the company also breached Rs 1.5 trillion mark as market capitalisation.  

Bullish on all the Adani group stocks, the market analyst Simi Bhaumik expects these companies would give at least 10 per cent returns in the next three-four months. She suggests to buy these stocks at a dip and expect it to hold it Diwali this year for bumper returns. 

Bhaumik also pointed out, Adani Port, which is surging since yesterday has given a breakout and expects it to surge to a new life high. The stock is currently trading quite near to a record high of Rs 885 per share, which was touched on April 7, 2021. 

The other listed Adani Group companies: Adani Green Energy (Rs 2.03 trillion), Adani Transmission (Rs 1.7 trillion), Adani Ports and Special Economic Zone (Rs 1.7 trillion), and Adani Total Gas (Rs 1.6 trillion) have a market cap of more than Rs 1.5 trillion, each.