Adani Enterprises Soars 19%, Most Adani Stocks Locked in 5-10% Upper Circuits

By Malvika Gurung

Investing.com -- All the seven Adani Group listed stocks have zoomed in Monday’s intraday session, with five stocks hitting 5-10% upper circuits in the session.

The flagship company of the ports-to-power conglomerate Adani Enterprises ' (NS: ADEL ) shares skyrocketed 19% to Rs 2,328 apiece on Monday, topping the benchmark Nifty50 pack and significantly outperforming the constituent stocks on the index.

The conglomerate’s stocks rallied as investors turned optimistic after the report released by the Supreme Court-appointed expert committee depicting no regulatory failure around the Adani-Hindenburg case, and dismissing any risky scenario in the Group’s stocks, taking into account the explanations provided by SEBI.

Shares of India’s largest private port operator Adani Ports (NS: APSE ) jumped 9.5% to hit an intraday high of Rs 753.4 apiece on Monday, and traded as a top gainer on the Nifty50 index, following Adani Enterprises (NS: ADEL ).

The remaining five Adani-listed stocks, constituting Adani Green Energy (NS: ADNA ), Adani Power (NS: ADAN ), Adani Transmission (NS: ADAI ), Adani Total Gas (NS: ADAG ), and Adani Wilmar (NS: ADAW ), were locked at their respective upper circuits on Monday.

The shares of Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas were locked in 5% upper circuits, while those of Adani Wilmar were locked in a 10% upper circuit of Rs 444.3 apiece during Monday’s session.