Shares of Adani Group companies from Adani Total Gas to Adani Green Energy and Adani Wilmar extended their gains for the second day in a row after the group registered its best single-day performance on Tuesday since the Hindenburg report went public earlier this year.
Shares of Adani Total Gas are up another 16% on Wednesday after the stock ended in a 20% upper circuit on Tuesday.
Adani Total Gas, part of the Gautam Adani-led conglomerate launched a Green Hydrogen blending pilot project at Ahmedabad, it said in an exchange filing.
The company will use the latest technology to blend hydrogen with natural gas for over 4,000 home and commercial PNG customers during the pilot phase.
Adani Group's energy and city gas distribution company, co-promoted by TotalEnergies, is likely to commission the project by the first quarter of financial year 2025 and the percentage of green hydrogen will be gradually increased in the blend to up to 8% or more, subject to regulatory approvals.
On the other hand, shares of Adani Wilmar have surged as much as 6% to the highest level in nearly three months. The trading volumes on the stock are 10 times higher than the 20-day average at this time of the day.
Adani Group stocks had their best day since late-January on Tuesday, adding a combined market capitalisation of ₹1 lakh crore.
Shares have surged over the last two trading sessions after the Supreme Court reserved its order on the Adani-Hindenburg issue.
The verdict in the Adani-Hindenburg case have been reserved by a bench led by Chief Justice of India DY Chandrachud. The apex court observed that capital market regulator SEBI must complete probe in all 24 case.
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