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Adani Group stocks rally with Adani Total Gas surging over 14%, followed by Adani Green Energy and Adani Enterprises. Here’s the reason.
Adani Group stocks zoom today.
Adani Group Stocks: Adani Group stocks are witnessing a sharp rally in today’s session, with Adani Total Gas leading the charge after surging over 14%. It is followed closely by Adani Green Energy and Adani Enterprises, which have gained 7.87% and 7.01%, respectively. It came after a report that representatives for billionaire Gautam Adani and his companies met officials from US President Donald Trump’s administration to seek dismissal of the criminal charges against him.
Adani Group Stocks’ LTP (Cut-Off Time: 2:40 pm)
Adani Energy Solutions (ADANIENSOL): The stock is currently trading at Rs 946.4, up 4.33% or Rs 39.25. It opened at Rs 907.15 and has seen movement within a 52-week range of Rs 588.00 to Rs 1,348.00.
Adani Enterprises (ADANIENT): Adani Enterprises is currently trading at Rs 2,455, with a sharp intraday jump of 7.01% or Rs 160.80. The stock opened at Rs 2,318.05 and has fluctuated between Rs 2,025.00 and Rs 3,743.90 over the past year.
Adani Green Energy (ADANIGREEN): The stock is trading at Rs 976.45, up 7.87% or Rs 71.20. It opened at Rs 905.00 and lies within a 52-week range of Rs 758.00 to Rs 2,174.10.
Adani Ports & SEZ (ADANIPORTS): Adani Ports is currently trading at Rs 1,358.7, rising 7.23% or Rs 91.60 intraday. It opened at Rs 1,267.00 and has moved between Rs 995.65 and Rs 1,621.40 in the last one year.
Adani Power (ADANIPOWER): The stock is trading at Rs 562.65, gaining 7.13% or Rs 37.45 so far. It opened at Rs 527.25 and its 52-week range stands between Rs 432.00 and Rs 895.85.
Adani Total Gas (ATGL): ATGL is currently trading at Rs 661.25, up 10.25% or Rs 61.50. It opened at Rs 599.75 and touched the day’s high at Rs 684 apiece, reflecting a jump of 14 per cent intraday.
Ambuja Cements (AMBUJACEM): The stock is trading at Rs 543.75 with a 2.27% gain or Rs 12.05. It opened at Rs 531.70 and has moved between Rs 453.05 and Rs 706.95 in the past 52 weeks.
AWL Agri Business (AWL): AWL is currently trading at Rs 275.05, up 2.29% or Rs 6.15. It opened the day at Rs 268.90 and has seen a 52-week range of Rs 231.55 to Rs 403.95.
The discussions, which began earlier this year, have gained momentum recently and could lead to a resolution within the next month if the pace continues, according to Bloomberg.
November Indictment
In November, US authorities indicted Adani and his nephew, Sagar Adani, alleging they paid bribes to secure Indian power supply contracts and misled US investors during fundraising efforts.
Adani’s representatives are arguing that his prosecution does not align with Trump’s priorities and should be reconsidered, Bloomberg News reported.
Adani Green’s Review
Late last month, Adani Green stated its review of the US indictment found no non-compliance or irregularities.
Earlier this year, reports indicated that Adani Group has hired prominent US law firms, including Kirkland & Ellis and Quinn Emanuel Urquhart & Sullivan LLP, to handle civil and criminal proceedings initiated by the SEC and the Eastern District of New York.
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