Adani Ports, Adani Ent share price gain over 2-3%; Check key reasons behind Adani Group stocks rally
Adani Enterprises share price rallying over 3%. Adani Wilmar, Adani Total Gas and Adani Power share price gained over 3% each, while Adani Ports & SEZ and Adani Transmission rose over 2% each.
Among other Adani Group stocks, Adani Green Energy, ACC and Ambuja Cements were up over 1.55% each, while NDTV shares were locked at 5% upper circuit. The rise in Adani group shares comes after multiple events related to the Gautam Adani-led conglomerate. The Adani Group on July 15 announced the commissioning of India’s first transnational project at Godda in Jharkhand to supply power to the Bangladesh electricity grid.
Read here: Adani Group commissions India's first transnational power project to supply electricity to Bangladesh; check details Gautam Adani, Chairman of Adani Group, called on Bangladesh Prime Minister Sheikh Hasina in Dhaka on Saturday following the full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant (USCTPP) in Godda. Adani Power Jharkhand Ltd (APJL), a wholly-owned subsidiary of Adani Power Ltd, will supply 100% of the generated electricity from the plant to Bangladesh.
Moreover, the Maharashtra government approved the Adani group’s proposal to rehabilitate residents of Mumbai’s 590-acre Dharavi locality, home almost eight months after the conglomerate won a tender to develop India’s largest slum. On Friday, the state’s housing department said that Adani group will be the government’s partner for the Dharavi redevelopment project, which involves an investment of at least $3 billion.
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