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Adani group market cap crosses Rs 14 lakh crore mark

Adani family to invest Rs. 9,350 cr in Adani Green for 45 GW target by 2030

In the month of November, the US International Development Finance Corporation announced a $553 million loan for the Adani Ports-led container terminal project in Colombo. That arrangement by a US-based government agency was a breakout point for Adani Group stocks, as it not only contradicts Hindenburg claims but also boosts investor confidence in the Adani Group. According to the report, the US government did not find Hindenburg Research's allegations of corporate fraud relevant before extending a loan to Adani Port for a container terminal in Sri Lanka. The International Development Finance Corporation (DFC) conducted a due diligence investigation of the conglomerate, and the DFC was satisfied that the allegations weren’t applicable to Adani Ports and Special Economic Zone. Another key trigger was Adani Green Energy securing a $1.36 billion loan from a consortium of eight international banks.

The group market cap has recovered more than 100% from the all-time low of Rs. 6.8 lakh crore after many positive events like the Supreme Court judgment, the election rally, and the release of the report, but is still considerably down from the all-time high of Rs. 24.8 lakh crore.

Companies Mcap Price on Nov 28 Price on Dec 5 % change in price
Adani Enterprise 3,46,161 2285 2960 29.5%
Adani Port 2,26,922 804 1011 25.7%
Ambuja Cement 1,02,330 415 508 22.4%
Adani Total Gas 1,14,077 549 878 59.9%
ACC 40,592 1827 2185 19.59%
Adani Green Energy 2,47,109 952 1348 41.59%
Adani Wilmar 52,831 320 380 18.75%
NDTV 1,879 207 266 28.5%
Adani power 2,23,818 406 538 32.51%
Adani Energy Solutions 1,35,465 749 1083 44.59%
Sanghi Industries 3,505 113 129 14.15%
Total Mcap 14,94,689

 

Ambuja Cements recently completed the acquisition of 54.5% of Sanghi Industries, adding one more name to the list of acquisitions by the conglomerate for an enterprise value of Rs. 5,185 crore. The acquisition will give Adani Group access to Sanghi Industries' Sanghipuram, a 2,700-hectare integrated manufacturing unit in western Gujarat, which is India's largest single-location cement and clinker production facility. The acquisition is fully financed by internal accruals and increases Ambuja Cements' consolidated capacity to 74.6 MTPA (million tonnes per annum) from 68.5 MTPA. The acquisition will enable Adani Group's Ambuja Cements to expedite its unique coastal strategy, aiming to increase the cement capacity to 15 MTPA along the west coast of India on the strength of Sanghi Industries' low-cost clinker. Sanghi Industries shares were locked in the upper circuit of 5% for the second straight session at Rs. 135.70 on the NSE.

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