Adani firms surge on energy transition push

Stocks of Adani group entities have shown a massive resurgence, after being in the red for the large part of the year.

In the past four sessions, the group’s combined market capitalisation zoomed Rs 3.3 trillion ($40 billion). As of Wednesday’s close, the market value of 10 listed stocks stood at Rs 14.5 trillion ($174 billion). The combined market cap is now Rs 4.7 trillion ($61 billion) shy of the pre-Hindenburg report levels.

Adani Group has plans to invest $75 billion in energy transition initiatives by 2030, chairman Gautam Adani said on Wednesday.