10 Adani Group stocks soar up to 10%, Adani Power hits new all-time high; check others

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₹776.40 and hitting a new all-time high of ₹797 per share.Adani Total Gas followed closely as the second top performer, rising 9.6% to settle at ₹1,047 per share. Other group stocks, including Adani Enterprises, Adani Green Energy, Adani Ports & Special Economic Zone, Adani Wilmar, Adani Energy Solutions, ACC, Ambuja Cements, and NDTV, also saw gains ranging from 2.5% to 9%.Also Read: India Ratings upgrades Adani Green Energy to ‘IND AA-’ with stable outlookThis rally was attributed to the positive sentiment highlighted by global brokerage firm Jefferies, which noted that the conglomerate has recovered from the losses incurred during the Hindenburg episode and is now back on an "expansion spree," planning a USD 90 billion capex over the next decade.In January last year, U.S.

short-seller Hindenburg released a critical report on Adani Group, alleging accounting fraud, stock price manipulation, and improper use of tax havens. The Adani Group has consistently denied all these allegations since the controversy began.However, the stocks were significantly impacted as investor concerns grew.

In response, the group undertook several measures to restore investor confidence, including raising fresh funds from equity, debt, and strategic investors and increasing the promoters' stake in group companies. These efforts helped the stocks recover in the following months.Also Read: Indian companies warm up to dollar debt as hedging costs dropDuring the financial year 2023–24, the Adani Group focused on containing its debt and reducing the founders' share pledge, according to a report by Jefferies.

The report noted, “Total group EBITDA grew 40% year-on-year in 2023–24 to ₹660 billion. Adani Group's profit after tax (PAT) in FY24 jumped