The markets surged to new record highs on Monday, November 25, after sleepy trade sessions. Along with the market and its benchmark indices, another tranche of companies came out of the slump that plagued them. Many of the major companies belonging to the Adani Group are trading in green.
It was last week that the company found itself in another whirlwind after a US Federal Court indicted Gautam Adani and seven others in a mass bribery case involving USD 250 million.
The Adanis have been accused to bribe their way into bagging major solar contracts in multiple Indian states.
The company on its part has refuted these allegations, calling them baseless.
The company shares that collapsed on towards the end of the previous week, now appear to have roared back in the early hours of the intrday trade on Monday.
Adani Enterprises Ltd
The group's flagship, Adani Enterprises shares price surged by 3.13 per cent or Rs 69.80 in the early hours of the day's trade. The shares opened Rs 2,315.00, after the previous day's close of Rs 2,228, reaching a high of Rs 2,320.00. The surge took the overall value of the shares to Rs 2,285.40 per piece.
Adani Green Energy Ltd
Next, the Adani Green, the company, that has been in the middle of the storm also saw its prospects rise on Monday. Adani Green's opened at Rs 1,080.20 after the previous day's close of Rs 1,051.80.
As of Monday, the value of shares rose by 1.63 per cent or Rs 17.10, taking the overall value of Rs 1,068.90 per piece.
Adani Power Ltd
In addition, the Adani Power shares also soared in green in the early hours of the day's trade. The power company's share jumped to Rs 466.90 per share. This was a result of 1.40 per cent or Rs 6.45.
Earlier, the company shares opened at Rs 473.80, after closing on Rs 460.85 in the previous trading session.
