Upper circuit for Adani Total Gas shares; rise by 5%
Adani Total Gas Ltd increased by 5 per cent to hit its upper price band of Rs 662.45.
Other shares of the energy-to-ports company conglomerate even surged today. Adani Power Ltd skyrocketed 9.91 per cent to strike a day high of Rs 261.65.
Along with Adani Total Gas, Adani Green Energy Ltd Shares struck a 10 per cent upper circuit of Rs 1,089.15 in Tuesday’s market. The firm’s board will meet on July 31 to consider and endorse the Financial Results for June 2023 quarter (Q1 FY24).
About 5.74 lakh stocks changed hands today on BSE, around the two-week average volume 67,000. Turnover on the counter arrived at Rs 60.07 crore, commanding a market capitalisation (m-cap) of Rs 1,72,524.90 crore.
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Adani Transmission rose by 8.60 per cent to hit Rs 839.90. The firm is even scheduled to report Q1 results on July 31. For Adani Wilmar Ltd, the counter saw a 5.10 per cent pitch. Group’s flagship entities Adani Enterprises and Adani Ports, were selling higher in late exchanges.
In a separate development, US-based investment company Bain Capital agreed to receive 90 per cent of Adani Capital and Adani Housing, purchasing out all of the Adani family’s private investments in the firm.
Gaurav Gupta would have the remaining 10 per cent stake in Adani Capital and resume serving as its Managing Director and CEO, Bain said. It continued that the transaction, anticipated to close in the fourth quarter of this year, seeks to set Adani Capital as a standalone firm to expand lending.
