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Adani stocks witnesses surge up to 5 per cent on Tuesday

Adani stocks witnesses surge up to 5 per cent on Tuesday

Fortune India picture.

New Delhi: The Adani group's stocks witnessed a significant surge on Tuesday, attracting the attention of those in the business spheres as well as headlines. Adani Enterprises, Adani Total Gas and Adani Power surged more than 5 per cent on the day, PTI reported.

Shares of Adani Enterprises, billionaire Gautam Adani-led group's flagship firm, rallied 5.43 per cent on the BSE.

The stock of Adani Total Gas zoomed 5.50 per cent, Adani Power surged 5.49 per cent, Adani Green Energy jumped 4.34 per cent, and ACC soared 4.17 per cent.

Shares of Ambuja Cements went up by 3.90 per cent, Adani Energy Solutions advanced by 3.07 per cent, Adani Wilmar (2.20 per cent), Adani Ports (1.89 per cent) and NDTV (1.87 per cent).

The combined market valuation of all the ten listed firms stood at ₹ 15,86,018.55 crore.

In the equity market, the 30-share BSE Sensex climbed 328.48 points, or 0.45 per cent, to settle at 73,104.61. The NSE Nifty went up 113.80 points, or 0.51 per cent, to 22,217.85.

Adani Enterprises Ltd (AEL), which has interests spanning from new energy to airports and data centres, plans to spend ₹ 80,000 crore across businesses in the current financial year, a senior company executive said.

A bulk of the capital expenditure planned for 2024-25 (April 2024 to March 2025) fiscal will be on new energy businesses and airports, said Saurabh Shah, AEL deputy chief financial officer, at an analyst call, a transcript of which was released by the company.

"We are looking at a capex of about ₹ 80,000 crore in FY25, out of which a major part...will go in ANIL and airports business which take up about ₹ 50,000 crore of capex," he said.

ANIL is the acronym for Adani New Industries Ltd, which is into green hydrogen and manufacturing of solar modules that convert sunlight to electricity.

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