NEW DELHI: Dalal Street continued to see demand for Adani Group shares, with Adani Enterprises topping the pack with a 10% increase following Gautam Adani's announcement of a deal worth Rs 15,446 crore with GQG Partners in the US.
Adani Enterprises' stock was restrained by a 10% upper circuit limit at Rs 1,767.35.
Adani Transmission, Adani Green Energy, Adani Total Gas, Adani Wilmar, Adani Power, and NDTV were among the six other group firms whose stocks were frozen at their 5% upper circuit ranges.
At Rs 669, Adani Ports, the conglomerate's cash cow, was trading 7% higher.
The remaining companies in the Adani Group's 10-pack were also performing well.
Today marked the fourth day in a row that Adani stock has increased.
Following two trading days in which the Adani companies' market value increased by a combined Rs 74,000 crore, it increased by another Rs 30,000 crore on Thursday.
Adani Group promoter SB Adani Family Trust sold holdings in Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission, and Adani Enterprises as part of the agreement with the US-based FII GQG Partners.
GQG invested Rs 5,460 crore in Adani Enterprises, as shares were purchased for Rs 1,410.86 each. For Rs 596.20 a share, APSEZ stock was purchased for Rs 5,282 crore. Adani Transmission's deal, worth Rs 1,898 crore, was completed at a price of Rs 668.4 per share.
At a cost of Rs 504.6 per share, the deal including Adani Green Energy had a value of around Rs 2,806 crore. But investors in GQG were not pleased with the agreement with Adani Group.
Australian-listed shares of the company decreased by as much as 3% today.
GQG shares were down 2.6% at mid-afternoon, while the S&P/ASX 200 benchmark index was up 0.42%.
Notwithstanding this week's recovery, the market value of Adani equities has decreased by Rs 10 lakh crore, or 57%, since the publication of the Hindenburg report in late January.
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