Adani Group has regained pre-Heidenburg report total market capitalisation, riding on two big rallies on the Indian indices. The market capitalisation of Adani Group's 10 listed Portfolio companies surged by more than Rs 2 lakh crore to surpass Rs 18.5 lakh crore on Monday.
Topping the day's opening bell, shares of all Adani Group firms opened strongly in the green. The individual growth of major constituents such as Adani Enterprises was up by more than 9%, while Adani Ports and Special Economic Zone marked its lifetime high with a 10% increase.
The rally was further extended to other Adani Group companies such as Adani Power, Adani Total Gas, Adani Wilmar, and Adani Green Energy, all moving upwards.
Nirav Sheth, CEO, institutional equities, Emkay Global Financial Services Ltd, said the execution capability of the Adani Group was unmatched, especially in the infrastructure segment, where mega construction is possible.
The previous week also witnessed a significant uptick, with Adani Group companies' stocks surging by 10%.
Earlier this year, the Supreme Court delivered a favorable verdict for the Adani Group, dismissing all allegations and reaffirming its confidence in SEBI's regulatory authority.
The apex court's judgment dismissed the investigation against Adani-Hindenburg because, as it said, there was no evidence brought forth by the petitioners for the transfer of the investigation to a special investigation team.
Although the company met with a setback from the short-seller report in late FY23, the Adani Group has shown great resilience, turning adversities into opportunities. Nothing daunted, the group has already resumed its expansion programs, a Jefferies report pointing to ambitious plans for a $90 billion capital expenditure program over the coming decade.
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