AEL, Adani Ports, Adani Power shares: As Adani stocks stage recovery, group m-cap nears Rs 11 lakh cr mark

Select Adani group stocks climbed on Wednesday for the second straight session, taking the group market capitalisation (m-cap) close to Rs 11 lakh crore mark. Data showed Adani group commanded a total m-cap of Rs 11.47 lakh crore at August 22 closing, ahead of Sebi's status report on Hindenburg Research allegations. The group m-cap hit a low of Rs 10.78 lakh crore on August 28, but is recovering since, thanks to buying in shares of Adani Ports & SEZ, Adani Power and the group flagship Adani Enterprises (AEL). At Wednesday's intraday levels, the group commanded a m-cap of Rs 10.91 lakh crore.

At 11.30 am, shares of Adani Enterprises were trading at Rs 2,528.35 on BSE, up 0.90 per cent. This stock was up 1.37 per cent in the previous session. Adani Ports added 1.01 per cent to Rs 831.90. The scrip gained 2 per cent in the previous session. Adani Power edged 0.17 per cent higher at Rs 333.05. This stock surged 3.32 per cent in the previous session. The three Adani stocks alone contributed Rs 11,160.53 crore out of Rs 12,783.51 crore m-cap gain.

Meanwhile, shares of Adani Energy Solutions were trading at Rs 849.85, down 0.90 per cent.Adani Green Energy was down 0.55 per cent at Rs 970.15. Adani Total Gas fell 0.56 per cent to Rs 653.30. Adani Wilmar edged 0.12 per cent lower to Rs 370.10.

Sebi said it has completed the probe in all but two allegations against the Adani group. Sebi informed the Supreme Court (SC) that it was still awaiting information from five tax havens on actual owners behind foreign investors investing in the conglomerate, PTI reported. In a status report, Sebi stated that out of the 24 matters it was probing, findings in 22 are final.

Meanwhile, the hearing on the Hindenburg Research has been postponed. Sebi was investigating allegations made by Hindenburg Research in January this year, wherein it accused the Adani Group of stock manipulation, fraudulent transactions and other financial misdeeds. It accused the group of using offshore companies in tax havens to manipulate share prices and financial results. The Hindenburg report also alleged non-compliance with disclose and shareholding laws. The group has denied wrongdoing.

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