Mid-day Market Movers: Adani Group stocks are trading at an all-time high on Wednesday afternoon

The group companies have been rising steeply on the bourses since August 16

Fair trade regulator Competition Commission of India (CCI) has given its approval to the USD 10.5 billion acquisition by Adani Group of Swiss cement giant Holcim’s stake in Ambuja Cement and ACC. Post the completion of the acquisition process, Adani Group will become India’s second biggest cement manufacturer. The group companies have been rising steeply on the bourses since then. 

In the meanwhile, benchmark indices are currently trading in positive territory with Sensex up by 0.7 per cent or 401 points at 60243.53. and Nifty at 17935.40 with a gain of 0.6 points or 110 per cent. 

  Adani Enterprise, Adani Power and Adani Transmission are witnessing positive action in today’s session  

  Adani Enterprises Ltd is soaring high on the bourses logging a fresh 52-week high at Rs 3028.60 overwriting its previous 52-week high posted in yesterday’s session at Rs 2985. The stock has defied market sentiment and given multibagger returns in the last one year rising 108 per cent, with the last one-month gain of 23.71 per cent. At CMP the stock has rallied 1.03 per cent quoting at Rs 3005.55

  Adani Power Ltd is currently locked in an upper circuit of 5 per cent at Rs 380.40 which is also its fresh all-time high. Today’s rally takes the 2 days tally to a 10 per cent gain and back-to-back 2 new all-time highs. The shares of Adani Power have trebled investor returns in the last one year.  

  After yesterday’s new all-time high of Rs 3593.95, shares of Adani Transmission Ltd continued to witness positive momentum, logging a new all-time high at Rs 3608.95. At the time of writing, the shares of Adani Transmission are trading at Rs 3588.30 up 0.19 per cent.