Most Adani Group stocks gain; Adani Enterprises rallies nearly 20%

Shares of most of the Adani Group companies ended higher on Wednesday, with the flagship company Adani Enterprises rallying nearly 20 per cent.

Seven of the group companies ended in the positive territory while three settled in the red on Wednesday.

In the last two trading sessions, Adani Group companies have recovered around Rs 70,000 crore in combined market capitalisation. The group stocks have lost around Rs 8.7 lakh crore or about 45 per cent of their combined market valuation since January 24, Manish Chowdhury, Head of Research at brokerage firm Stoxbox, said.

The US-based short-seller Hindenburg Research came out with its adverse report about Adani Group on January 24.

On Wednesday, shares of Adani Enterprises rallied nearly 23 per cent to Rs 2,163, also its upper price band on the BSE. It later ended at Rs 2,158.65 per share, up by 19.76 per cent.

The flagship company's market valuation rose Rs 40,601.14 crore to Rs 2.46 lakh crore.

Shares of Adani Ports and Special Economic Zone zoomed 8.34 per cent to end at Rs 599.45. The company's market valuation rose Rs 9,969.04 crore to Rs 1.29 lakh crore.