Latest News | Nine Adani Group Firms Climb in Early Trade; Adani Energy Surges Nearly 7 Pc
Get latest articles and stories on Latest News at LatestLY. Shares of nine of the ten Adani group firms climbed on the bourses in morning trade on Monday, with Adani Energy Solutions surging nearly 7 per cent, in-tandem with a rally in the equity market.
New Delhi, Nov 25 (PTI) Shares of nine of the ten Adani group firms climbed on the bourses in morning trade on Monday, with Adani Energy Solutions surging nearly 7 per cent, in-tandem with a rally in the equity market.
The stock of Adani Energy Solutions jumped 6.89 per cent, Adani Green Energy soared 6.42 per cent, Adani Total Gas surged 5.33 per cent, Adani Ports climbed 4.64 per cent and Adani Power rallied 4.17 per cent on the BSE.
Shares of Adani Enterprises went up by 4 per cent, Adani Wilmar (3.23 per cent), ACC (3 per cent) and Ambuja Cements (2.71 per cent) on the BSE.
However, NDTV shares went lower by 2 per cent.
The BSE benchmark Sensex jumped 1,330.17 points to 80,447.28 in morning trade and the NSE Nifty surged 438 points to 24,345.25.
Billionaire Gautam Adani's group on Saturday clarified on reports of Kenya cancelling more than USD 2.5 billion in deals after US indictment on bribery charges, saying it had not entered into any binding agreement to operate Kenya's main airport.
On the pact it had signed last month to build and operate key electricity transmission lines in Kenya for 30 years, the group said the project did not fall within the ambit of Sebi's disclosure regulations, thereby not warranting any disclosure on its cancellation.
The group was responding to notices sent by stock exchanges to confirm reports of Kenyan President William Ruto ordering the cancellation of a procurement process that had been expected to award control of the country's main airport after the conglomerate's founder was indicted in the United States.
Adani Enterprises Ltd, the flagship firm of Gautam Adani's group which houses its airport business, in a filing said it had in August this year incorporated a step-down subsidiary in Kenya to upgrade, modernise, and manage airports.
"While the company was in discussion with the relevant authority for the said project, till date neither the company nor its subsidiaries (i) have been awarded any airport project in Kenya, or (ii) entered into any binding or definitive agreement in connection with any airport in Kenya," the firm said.
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