Adani Group Transmission, Adani Total Gas and Adani Green Energy also reached the 5% cap each. Ambuja Cement and ACC also gained 5% and 4.93% respectively on 22 May. As of March 31, 2023, LIC continues to hold more than 1% of both companies. On the other hand, the BSE Sensex index closed at 234 points, or 0.
38% up to 61,963.68%.
Life Insurance Corporation of India (LIC) rejoiced more on Monday as progress in Adani Group added Rs 3,447 value for its major insurance portfolio. Shares of the Adani group rose 19% on May 22 after the SC-appoint AM Sapr committee said it could not conclude that Hindenburg’s price-fixing claims were unconstitutional. Adani shares rose after news that the group has decided to raise funds to select assets considered non-essential.
Adani Enterprises was the top earner, up 18.84 percent. As of March 31, 2023, LIC has a 4.26% stake in the company. Adani Ports also bought a 6% stake. 03% in Monday trading. The data showed that the insurance giant had a 9.12% stake in the company in the fourth quarter of 2023.
Adani Transmission, Adani Total Gas and Adani Green Energy also reached the upper limit of 5% each. Ambuja Cement and ACC also gained 5% and 4% respectively.
93% on May 22. As of March 31, 2023, LIC holds more than 1% of both companies. On the other hand, the indicative BSE Sensex closed 234 points, or 0.38 percent, at 61,963.68.
As a result, the market value of Adani shares held by LIC jumped from Rs 39,878.68 on May 19 to Rs 43,325.39 on May 22. “The Sebi liquidation clearly shows that the market is not mismanage.
It has nothing to do with work. Adani Group shares should now climb the wall of concern. Leverage has also been ease.
At the same time, the valuation is good. They have access to growth capital. The team will be stronger. Adani Total Gas and Adani Ports have strong commercial and financial performance at very low valuations. Adani Enterprises focuses on property distribution. With an IPO on the horizon, the green energy sector will take wings.
It’s not a discount on this scale. In his interaction with Business Today TV’s Sakshi Batra SEZ, Bolinjkar would not surprise if analysts set a target of Rs 4,000 for Adani Enterprises. Second half growth should continue, repeating Mundra’s story of business share growth, in the case of Adani Ports, Jefferies said the company is India’s largest port operator with a 22% market share.
He noted that management wanted to benefit from the gradual recovery of the balance sheet as global volume prices fell. In a note, Jefferies said it also expects to grow its delivery/product business to provide end-to-end solutions to customers.
