Adani Total Gas, Adani Energy, Adani Green: Adani stocks rallied up to 18% today; here's why

Shares of Adani group companies extended their recent gains to Wednesday's trading session as the Supreme Court (SC) while reserving order in the Adani-Hindenburg case suggested that the latter's report should not be treated as "a statement of truth." The court observed the markets regulator Sebi must complete its probe into all 24 cases, while noting that the apex court can't doubt Sebi's probe into the Adani case by relying merely on media reports. Select group stocks were also in news on company-specific developments. 

Shares of Adani Total Gas Ltd climbed 17.98 per cent to hit a high of Rs 760 on BSE. The stock was also in news as the company said it would use latest technologies to blend green hydrogen with natural gas for over 4,000 Home and Commercial PNG customers during the pilot phase. The project, Adani Total Gas, said expected would be commissioned by Q1 FY25 and the percentage of green hydrogen will be gradually increased in the blend to upto 8 per cent or more, depending on regulatory approvals.

Adani Energy Solutions Ltd surged 10 per cent to Rs 954.85. Shares of Adani Green Energy Ltd rose 2.80 per cent to Rs 1,081.95. Adani group's flagship Adani Enterprise Ltd was up 0.83 per cent at Rs 2,443.75.Adani Wilmar Ltd climbed 3 per cent to Rs 358.95. Adani Ports edged 0.3 per cent higher to Rs 840.15. Adani Power added 1.48 per cent to Rs 452.40. This Adani group firm said the largest domestic private sector power plant Mundra will co-fire up to 20 per cent green ammonia in the boiler of a conventional coal fired 330MW unit.

Adani Power said it is collaborating with IHI Corporation and Kowa Corporation to decarbonise its own thermal power plants, starting with the 4,620 MW Mundra power plant. Adani Green Energy Ltd also gained 2.77 per cent to Rs 1,081.60.

The Adani group commanded a market capitalisation of Rs 11,31,096 crore on Tuesday. This was 1.04 lakh crore higher than Friday's group m-cap of Rs 10,27,114.67 crore.

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