All Adani Group Firms Settle In Positive Territory, Three Stocks Jump 5%

New Delhi: Shares of Adani group firms ended with gains on Monday with some companies hitting their upper circuit limits amid the group listing out details of stake sales in its companies and investment ploughed back into businesses to counter claims by Congress leader Rahul Gandhi.

Shares of Adani Transmission jumped 5 percent, Adani Green Energy advanced 5 percent, Adani Total Gas rallied 5 percent and Adani Enterprises climbed 2.53 percent on the BSE. (Also Read: PM-KISAN 14th Installment Coming On This Date? Check Step-By-Step Guide To Apply)

ACC went up by 1.63 percent, Adani Ports gained 1.57 percent, Adani Power (0.96 percent), NDTV (0.18 percent), Ambuja Cements (0.17 percent) and Adani Wilmar (0.02 percent). (Also Read: 10 Highest Earning You Tubers In India 2023: Check Full List Here)

Three of the group stocks hit their upper circuit limits during the day. In the broader market, the 30-share BSE Sensex ended marginally up by 13.54 points or 0.02 percent to 59,846.51.

Billionaire Gautam Adani's group on Monday listed out details of the USD 2.87 billion stake sales in group firms since 2019 and how USD 2.55 billion of this was ploughed back into business, as it looked to counter Congress leader Rahul Gandhi's claim of Rs 20,000 crore coming into the conglomerate through 'shell companies'.

While investors such as Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC) invested USD 2.593 billion in group firms such as Adani Enterprise Ltd and Adani Green Energy Ltd (AGEL), promoters sold stake in Adani Total Gas Ltd and AGEL to raise USD 2.783 billion.

"These funds were reinvested by promoter entities to support the growth of new business and in portfolio companies such as Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Power Ltd," the group said.

The statement was issued rebutting reports in an international publication, which apparently was the basis of Gandhi's statement late last month questioning how "Rs 20,000 crore suddenly arrived in Adani's shell companies."

"We understand the competitive race to tear down Adani can be alluring. But we are fully compliant with securities laws and are not obscuring promoter ownership and financing," it said.