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Adani Group adds ₹2 lakh cr in m-cap
The Morning Standard
|December 06, 2023
ADANI GROUP on Tuesday added nearly ₹2 lakh crore in market capitalisation (m-cap) as positive cues, including the election outcome in three states, have made the port-to-power conglomerate’s 10-listed stocks a favourite among investors.
This was the largest single-day gain in m-cap since the Hindenburg report of January and it pushed the Group’s combined m-cap close to ₹14 lakh crore mark. In the past one week, the Group’s m-cap has grown from nearly ₹10.26 lakh crore to ₹13.88 lakh crore, a net addition of ₹3.62 lakh crore. With the recent gains, the mcap of billionaire Gautam Adani-led companies is now inching towards the pre-Hindenburg time. The Group’s m-cap stood at ₹18.20 lakh crore before the short-seller accused them of manipulating stock prices.
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