Adani Group Stocks Surge for Second Day, Adani Green Energy Climbs Over 7%
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Synopsis
On January 15, 2023, Adani Group shares saw a notable increase for the second day in a row, with Adani Green Energy rising over 7%. The rally was supported by strong trading volumes and positive momentum across various Adani companies, significantly impacting their stock prices.
Key Takeaways
- Adani Green Energy stock rose by 7.27%.
- Adani Power stock increased by 6.50%.
- Adani Green Energy's trading volume was 7.1 times its average.
- Adani Renewable Energy commissioned a new wind power unit.
- Overall, Adani Group stocks are experiencing significant gains.
Mumbai, Jan 15 (NationPress) Shares of the Adani Group experienced a significant rally for the second straight day on Wednesday, building on a notable increase from the prior trading session.
During the current trading day, Adani Green Energy shares climbed to ₹1,080, marking a rise of 7.27%, while Adani Power increased to ₹571.90 per share, reflecting a gain of 6.50%. By 1:00 p.m., the stocks of Adani Green Energy and Adani Power were showing gains of 3.76% and 2.94% respectively.
The total trading volume for Adani Green Energy today reached 7.1 times its 30-day average, with a Relative Strength Index (RSI) of 47.
Meanwhile, Adani Power's trading volume was 13 times its 30-day average, with an RSI of 57.
This week alone, shares of Adani Green Energy surged by approximately 16%, while Adani Power experienced a growth of about 20%.
The recent increase in Adani Green Energy's stock can be attributed to its subsidiary, Adani Renewable Energy Forty-Eight Limited, which successfully commissioned a 57.2 MW wind power unit at the Khavda project. This development has boosted the company's total operational renewable energy generation capacity to 11,666 MW.
Additionally, stocks of other Adani Group companies are also trading positively. Shares of Adani Energy Solutions rose by 1.63%, Adani Ports increased by 0.60%, Adani Enterprises advanced by 0.56%, Ambuja Cements climbed by 1.31%, and ACC shares surged by around 0.50%.
On Tuesday, Adani Group shares also saw a notable increase. Adani Power shares soared by 19.77%, Adani Green Energy shares jumped by 13.22%, Adani Energy Solutions shares rose by 12.06%, Adani Enterprises shares soared by 7.12%, Adani Total Gas shares rallied by 6.52%, and NDTV shares increased by 5.63%.
