Adani group stocks rise as Adani Power overtakes Infosys in mcap

Adani group stocks closed higher on Wednesday despite a subdued market, with Adani Power overtaking Infosys in market capitalisation ranking. Several Adani group companies touched their 52-week highs during intra-day trade, while the Sensex and Nifty ended lower

New Delhi: Adani group stocks ended higher on Wednesday, with Adani Power overtaking IT major Infosys in market capitalisation ranking, in an otherwise subdued market.

The stock of Adani Total Gas surged 13.35 per cent, NDTV skyrocketed 10.39 per cent, Adani Energy Solutions jumped 5.28 per cent, and Ambuja Cements climbed 2.28 per cent on the BSE.

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Shares of Adani Green Energy advanced 2.23 per cent, Adani Power edged higher by 1.72 per cent, ACC climbed 1.09 per cent, Adani Ports rose 0.74 per cent and Adani Enterprises Ltd went up 0.11 per cent.

The combined market valuation of these firms stood at Rs 19.44 lakh crore.

Adani Power overtook Infosys to become the country’s 11th most-valued firm by market capitalisation (mcap).

At the close of trade, Adani Power’s market valuation stood at Rs 4,79,706.78 crore, while that of Infosys stood at Rs 4,70,111.69 crore.

So far this year, shares of Adani Power have surged nearly 74 per cent, while those of Infosys have dropped over 28 per cent.

Adani Enterprises Ltd, Adani Ports, Adani Power, Adani Energy, Adani Green, and Adani Total Gas hit their 52-week high levels during intra-day trade.

The 30-share BSE Sensex declined 141.90 points, or 0.19 per cent, to settle at 75,867.80. The 50-share NSE Nifty skidded 6.55 points, or 0.03 per cent, to end at 23,907.15.