With investors training their attention back to valuations and business fundamentals after the Hindenburg-led crash, Adani Group stocks inched higher by 7% month-on-month in July. The combined market capitalisation of all 10 Adani stocks went up by Rs 71,575 crore to Rs 10.8 lakh crore in the month.
Adani Green Energy, which reported a 51% jump in its Q1 profit, was the biggest gainer last month as the stock ended 16% higher in July. The Ahmedabad-based conglomerate’s cement units – ACC and Ambuja Cements – also saw an upside of 11% and 9%, respectively.
