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Adani Power share price jumps 5% for 2nd consecutive day: What's happening?
Adani Power share price jumped 5 per cent to hit its upper price band of ₹588.35 on BSE.
Adani Power share price: Adani Power share price hit 5 per cent upper circuit for the second consecutive session today (April 2). The share opened 2.4 per cent higher at ₹574.05 against its previous close of ₹560.35. Following this, the shares jumped 5 per cent to hit its upper price band of ₹588.35 on BSE.
How Adani group stocks performed on Monday?
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Adani Energy climbed over 8 per cent on April 1 while shares of Adani Energy Solutions jumped 8.40 per cent, NDTV zoomed 6.16 per cent, Adani Wilmar advanced 5.92 per cent, Adani Power surged 4.99 per cent, Adani Total Gas soared 4.81 per cent, Adani Green Energy rallied 2.93 per cent, Adani Ports climbed 2.56 per cent and ACC (2.38 per cent) on the BSE.
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With this, the stock of Adani Enterprises went up by 1.80 per cent and the combined market valuation of all the group firms stood at ₹16,30,648.23 crore.
Why are Adani group stocks rising?
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Earlier, Adani group opened a USD 1.2 billion copper plant and bought a port in Odisha. The conglomerate also raised stakes in a cement company and stitched an alliance with Mukesh Ambani’s Reliance Industries as it moved past the Hindenburg rout. Adani Group has raised over USD 5 billion ( ₹41,500 crore) in equity and double of that in debt since the release of Hindenburg report.
