Adani Group's market cap hit Rs 15.1 trillion, gaining nearly Rs 64k cr

Adani Group stock rally: Adani Group stocks surged by 4.4 per cent, gaining nearly Rs 64,000 crore on Wednesday to cross Rs 15 trillion market capitalisation, driven by the buoyed sentiments after the  Supreme Court rejected key demands of petitioners in the ongoing SEBI investigation. The market capitalisation of Adani Group went up from Rs 14.47 crore on Tuesday to Rs 15.1 trillion on Wednesday.

Adani Group’s flagship company and incubator, Adani Enterprises also gained 2.41 per cent while Adani Energy Solutions gained nearly 11.37 per cent. Adani Total Gas saw gains of 9.83 per cent during trade. It is not only Adani Group whose stocks rallied on Wednesday, other Adani group stocks, Adani Wilmar, Adani Green Energy, Adani Power, and Adani Green Energy all ended the day in the green.

Other entities under the Adani Group also ended up in the positive territory. Cement giants Ambuja and ACC, the recent acquisitions of the Adani Group, also showed positive gains. NDTV clocked gains of 3.5 per cent during the trade.

The Supreme Court's decision to dismiss the petition buoyed sentiments in the Adani Group counters with all 10 stocks clocking gains between 0.5-11.4 per cent during trade on Wednesday. The Supreme Court said there was no ground to order an investigation by SIT or another agency into allegations against the group while directing SEBI to complete the remaining 2 probes within 3 months.

The apex court delivered its verdict after a month of reserving its judgment in November on a batch of petitions regarding the allegations of stock price manipulation by the Adani Group.