After a long weekend, there is a huge rise in the shares of Adani Group, Adani Total Gas is trading with the highest rise of 14% and Adani Energy Solutions is trading with the highest rise of about 11%.
Adani Power, Adani Green Energy are trading with a strength of more than 6%. At the same time, Adani Wilmar and NDTV also have a strength of more than 4%.
All Adani Group Stocks Advance
Market cap crosses Rs 11 lakh crore
The overall market cap of Adani Group shares has crossed Rs 11 lakh crore. Adani Group’s shares increased by Rs 75,744.71 crore overall in intraday and reached a high of Rs 11,02,412 crore.
At 10:25 am, an increase of Rs 65,771 crore was recorded in the overall market cap and the overall market cap was recorded at Rs 10,90,347 crore.
Why is there a rise in group shares?
This surge in Adani Group shares is being seen after the hearing of Adani-Hindenberg case in the Supreme Court last week. On Friday, the Supreme Court heard the contempt petition against SEBI. In which it was alleged that SEBI did not complete the investigation of share manipulation on time.
In this, questions were also raised on the members of the committee appointed by the Supreme Court and their appointments were termed as conflict of interest. The Supreme Court raised questions on these allegations of the petitioner. CJI, DY Chandrachud said that a lawyer appeared for Adani Group in 2006 and you are accusing him in 2023, this is unfair. The CJI further said that a lawyer appearing for an accused like this can never become a judge again.
During this hearing, the Supreme Court expressed its disagreement on many arguments of Prashant Bhushan and said that we cannot expect a constitutional body (SEBI) to accept the news published in the newspaper as true. SC said that the allegations of Hindenburg report should not be accepted as true, because they are not before us.
The Supreme Court completed the hearing on this matter on Friday and has reserved its decision.
