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NEW DELHI: Billionaire Gautam Adani’s conglomerate added over Rs 50,501 crore in market capitalisation on Tuesday as shares of all the 10 listed group companies surged on renewed interest from domestic investors.
The overall market capitalisation of the 10 Adani Group companies stood at over Rs 10. 6 lakh crore at the end of trading on Tuesday on the BSE, up Rs 10,501 crore over an market cap of around Rs 10. 1 lakh crore on the previous year, exchange data showed. Experts attribute the reasons for the rise in stock prices to an increase in interest from domestic investors.
“Definitely, there is significant interest from investors like retail, HNIs and family offices. Also, the market is catching up with the fundamentals of the Adani Group companies. The Hindenburg issue has taken a backseat and the market is judging the group by its financial performance,” said the head of research of a brokerage house.
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