Adani Group shares rise strongly, market cap rises to Rs 12.80 lakh crore

New Delhi| A bullish trend was seen in the shares of Adani Group. All the shares of the group were trading in the green. At 1:39 pm, Adani Green Energy was trading at 3 per cent, Adani Power at 3.18 per cent, Adani Energy Solutions at 2.88 per cent. Apart from this, Adani Enterprises, the flagship company of Adani Group, had an increase of 1.72 percent in its shares.

Adani Ports and Special Economic Zone (APSEZ) shares are trading up 1.36 per cent and Adani Total Gas shares are trading up around 0.6 per cent. Shares of Ambuja and ACC, the group’s cement company, were up about 1.50 percent. During this period, the market cap of the group has increased by about Rs 16 thousand crores to Rs 12.80 lakh crores.

In recent times, there have been many positive news regarding Adani Group companies, due to which investors’ confidence in the group companies has increased. Recently, Adani Petrochemicals, a subsidiary of Adani Enterprises, had announced a joint venture with Indorama Resources named ‘Valor Petrochem’. Adani Petrochemicals will hold 50 percent stake in this joint venture.

Through this joint venture, Adani Group plans to leverage Indorama’s expertise in the petrochemicals sector. Adani Petrochemicals was established in 2021. Its objective is to establish refinery and petrochemical complexes in the country. Indorama Ventures, parent company of Indorama Resources, is a leading global company in the petrochemical sector, operating in more than 35 countries. Based in Thailand, Indorama is one of the world’s largest producers in the polyester products and fiber sector. Also it is a big company in the chemical sector.