Adani Power, Adani Transmission, Adani Green Energy and Adani Wilmar shares jumped today after BSE and NSE raised the upper circuit limit. Adani Power’s upper band limit has been increased to 20% from 5% while the other three stocks’ limit has been raised to 10% from 5%. Today, Adani Power share price jumped over 7% to Rs 281.70, Adani Transmission share price gained 3.54% to Rs 845, Adani Green Energy share price rose 1.32% to Rs 1,006 and Adani Wilmar share price surged 2.8% to Rs 442. BSE has revised the circuit limits for a total of 477 listed stocks, with 14 stocks getting a lower revision of limits starting today.
Adani Group stocks have seen some stability after sharp swings in recent months triggered by the Hindenburg Research report against the group in late January. The US-based-short seller had accused Gautam Adani and his brothers of fraud and stock manipulation. Meanwhile, Adani Group has reduced the debt on books by $2.65 billion within three months through the prepayment of share-backed loans and the loan taken to acquire Ambuja Cements.
