The resurgence of Adani shares appears to be all and truly complete, as most of the listed companies of the Ahmedabad-based conglomerate continue to make major gains at Dalal Street.
SEBI Imposes ASM On Adani Companies
The green streak continued even on Thursday, especially for two of listed companies that are in the spotlight. These are Adani Green Energy and Adani Energy Solutions.
Owing to the volatility of large volumes, the market regulator SEBI put the aforementioned companies under Additional Surveillance Measures, or ASM (Stage-1). This, as suggested before, is usually done when larger volumes rapidly move, resulting in substantial volatility.
The market regulator has kept these companies under short-term surveillance or stage 1. This according to SEBI is done to protect investor interests.
Despite this development, the shares of both these companies have not only surged in green, but also hit the upper-circuit in the early hours of the day's trade on Thursday, November 28.
Adani Green Energy Ltd
When we look at Adani Green, the company has also been in the middle of the controversy surrounding the US indictment soared, as though booster in the intraday trade.
Adani Green shares jumped 10.00 per cent, hitting the upper circuit. This rise of Rs 98.80 took the overall value of the company shares to Rs 1,087.20 per share. Today, the company shares also went past the Rs 1,000 mark, as it had closed on Rs 988.40 on Wednesday.
Adani Energy Solutions Ltd
Now, when we look at the shares of Adani Energy Solutions, the story was no different, as the company's shares ballooned as well. The share of the company after closing at Rs 660.80 per share, opened at Rs 689.90. Further, it progressed, widening its gains.
After hitting the 10 per cent mark, the gains dipped slightly. At the time of writing, the shares were trading with gains of 9.69 per cent or Rs 64.00, taking the overall value to Rs 724.80.
These surge in Adani company shares comes just days after the plunge experienced post the US indictment, which saw the US prosecutors accusing the group of indulging in a mass bribery case, in order to bag major solar power deal in Indian states.
