Adani Group Stocks Stand Tall In Market, Wilmar Zooms 47% In Nine Sessions

New Delhi: The overall market may be nervous and might be witnessing slight turbulence for days, affecting almost every sector but there are stocks from one conglomerate group that stand tall amid this environment said Adani Group.

The company led by Gautam Adani clocked gains on Monday for fifth straight day rising 14 per cent and extending the rally to 34 per cent in the period.

The company, recently, has concluded acquisition of Essar Power MP. The company is also working on an experiment with usage of liquid Ammonia in APMul’s Power Plant in Madura.

Meanwhile, at Ahmedabad the Adani Total Gas established their first EV charging station. Extending the rally to ninth straight day, the stock climbed 2 percent. In the same period it has jumped 34 percent.

Adani Wilmar hit its all time high, it was listed in February and has become a multibagger. Due to Ukraine-Russia war, the prices of oil have shoot up. This might benefit the company, having enough inventory covering supply for months. The stock also climbed for the ninth session on Monday, extending its rally to 47 per cent.

On Tuesday the shares of the energy stocks were in red, as crude oil rates dived in the international market because of lockdown in China’s key cities. ONGC closed down 3 percent as fall in price will be affecting its revenues.

Meanwhile, shares of oil market companies closed in red, as in past 7 to 8 days they saw a consistent hike, which drove the cost of petrol to more than Rs. 100 per liter in national capital. This might help them in replenish the losses. It might bring down the demand as well.

Indian Oil fell over 1 per cent, Oil India close to a per cent and Bharat Petroleum ended 0.35 per cent lower.

PNC Infratech stated that for NHAI project they have been declared as L1 bidder in Southern and Western India. The project is worth Rs 1,575 crore, the company said.

The job is comprising of 6 lane construction with access controlled greenfield highway from km 26.000 to km 97.000, MH/KN Border (Badadal) to Maradgi S Andola section of NH – 150C on Hybrid Annuity Mode.

In 30 months the project should build and will be operated for 15 years post construction. 

Following the announcement the stocks increased by 5 percent.

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