Adani Enterprises surges 8%, shares of listed firms report sharp rally

Anjali Sharma

GG News Bureau
NEW YORK, 25th May.
 Adani Enterprises jumped 8 per cent to emerge as the top gainer on Friday as Adani Group companies’ stocks saw great momentum and the Indian indices reached a sharp rally.

The surge in shares of Adani Enterprises came after reports of its inclusion in the 30-share BSE Sensex, replacd Wipro in the upcoming rejig of the benchmark index which can be announced on Friday.

“We expect the inclusion of Adani Enterprises and exclusion of Wipro from Sensex,” IIFL Alternative Research said in a note.

The AEL stock went up 8.01 per cent to reach Rs 3,391.20 apiece on the BSE on Thursday.

Other group companies, Adani Ports jumped 4.72 per cent, while ACC Limited went up by 2.86 per cent.

NDTV shares surged 7.56 per cent, Adani Power increased by 2.79 per cent, Adani Total Gas surged 2.30 per cent, while Ambuja Cements shot up 2.09 per cent.

The Adani Wilmar shares moved up by 1.85 per cent, Adani Green Energy went up by 1.25 per cent, while Adani Energy Solutions shares saw an increase of 1.17 per cent.

The 10 listed Adani Group firms now have Rs 17.23 lakh crore as the combined market valuation.

US based global brokerage Cantor Fitzgerald has given Adani Enterprises’ stock a target price of Rs 4,338 apiece.

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