Adani Power, Adani Transmission, Adani Green Energy and Adani Wilmar shares jumped today after BSE and NSE raised the upper circuit limit. Adani Power’s upper band limit has been increased to 20% from 5% while the other three stocks’ limit has been raised to 10% from 5%. Today, Adani Power share price jumped over 7% to Rs 281.70, Adani Transmission share price gained 3.54% to Rs 845, Adani Green Energy share price rose 1.32% to Rs 1,006 and Adani Wilmar share price surged 2.8% to Rs 442. BSE has revised the circuit limits for a total of 477 listed stocks, with 14 stocks getting a lower revision of limits starting today.
Adani Group stocks have seen some stability after sharp swings in recent months triggered by the Hindenburg Research report against the group in late January. The US-based-short seller had accused Gautam Adani and his brothers of fraud and stock manipulation. Meanwhile, Adani Group has reduced the debt on books by $2.65 billion within three months through the prepayment of share-backed loans and the loan taken to acquire Ambuja Cements. The net debt to EBITDA ratio was down to 2.81 times, the group said in a credit update on Monday.
All the Adani Group stocks were trading in green today. Adani Enterprises rose over half a percent and Adani Ports rose marginally. NDTV share price rose nearly 1% after the bourses said that the stock will move out of the short-term additional surveillance framework from Wednesday. Amid positive sentiment in the global markets, benchmark indices surged today. The NSE Nifty 50 surged 71.25 points or 0.38% to 18,670.25 and BSE Sensex jumped 189.93 points or 0.30% to 62,982.81.