Adani Group market cap rises by Rs 68,000 crore on Friday, biggest gain in 7 months

All the Adani Group stocks have seen a move higher for the second straight day and their market capitalisation has risen for four consecutive sessions. The last four sessions saw the port-to-power group adding a market capitalisation of nearly Rs 1.72 lakh crore of which Rs 68,430 crore addition has been witnessed in a single session of Friday. Today's market capitalisation addition is the biggest in the last seven months i.e. since August 1, 2022.

The sharp move has come in following Rs 15,400 crore stake buy by one of the marquee investors, GQG Partners, led by Rajeev Jain. In the transactions done via block deals on Thursday, GQG Partners have bought stakes in four group companies namely Adani Enterprises, Adani Ports, Adani Transmission, and Adani Green.

This has led to all the Adani Group stocks clocking gains in the range of 5-16 percent on Friday with the maximum gain coming in the flagship company, Adani Enterprises followed by Adani Ports, Ambuja Cements, and ACC. The remaining six stocks, which are not in the F&O segment, have close at the upper circuit of 5 percent.