scorecardAdani stocks rally adds ₹2.61 lakh crore to group market cap in March so far
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Adani stocks rally adds ₹2.61 lakh crore to group market cap in March so far

Adani stocks rally adds ₹2.61 lakh crore to group market cap in March so far
Business7 min read
  • Rally in Adani group stocks added ₹2.61 lakh crore to the group’s combined market capitalisation in March so far.
  • Shares of four companies were locked in their respective upper circuits on Monday after the Adani group announced payment of $2.15 billion of margin-linked loans.
  • The group also prepaid a $500 million financing facility taken for the acquisition of Ambuja Cements.
  • Overall, the Adani group’s combined market capitalisation is still down by 51% since January 24.
Adani group stocks have been on an upswing in March, adding ₹2.61 lakh crore in the combined market capitalisation of the Gautam Adani-led group.

The rally in Adani group stocks has been led by the flagship Adani Enterprises, which added over ₹79,000 crore to its market capitalisation this month. All in all, five out of the nine group companies have a market capitalisation of over ₹1 lakh crore each, up from two companies at the end of February.

Four out of the nine group stocks ended the day locked in their respective upper circuits after the group announced the prepayment of $2.15 billion of margin-linked loans on March 12.

“The entire prepayment program of $2.65 billion has been completed within 6 weeks, which testifies to the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudence adopted at all portfolio companies,” said Adani group in a statement on March 12.

In addition to this, the group also announced a prepayment of $500 million facility taken for financing the acquisition of Ambuja Cements.

Company

Current market price

Change in market cap

Adani Green

₹716.8

₹6,002 crore

Adani Total Gas

₹997.05

₹5,798 crore

Adani Transmission

₹949.65

₹5,602 crore

Adani Power

₹215.1

₹4,140 crore

ACC

₹1,770

-₹1,448 crore

Ambuja Cements

₹368

-₹1,948 crore

Adani Wilmar

₹435.5

-₹2,462 crore

Adani Enterprises

₹1,874.4

-₹3,390 crore

Adani Ports & SEZ

₹681.2

-₹3,839 crore

Total


₹8,455 crore


Source: NSE, March 13, 2023

Despite the surge in March, the Adani group’s combined market capitalisation is still down by 51% since the Hindenburg report was first released on January 24.

Adani Transmission and Adani Total Gas, both of which have been placed under the long-term additional surveillance measures (ASM) framework effective March 13, were both locked in their respective upper circuits.

Earlier last week, Adani Enterprises, Adani Wilmar and Adani Power were put under the ASM framework.

Stocks under ASM are monitored for price fluctuations, volatility, and cannot be pledged. Margins are also not available on stocks under ASM, so traders do not get any intraday leverage.

US-based GQG Partners picks up a stake in four Adani companies

US-based investment firm GQG Partners, led by founder Rajiv Jain, announced an investment of ₹15,446 crore in four Adani group companies on March 2. Since its investment, the shares of these companies have risen between 16% to 43%.

GQG’s ₹15,446 crore investment in the Adani group is now worth ₹20,051 crore, which is an increase of ₹4,605 crore.

Company

Total investment

Average price

Current market price

Adani Enterprises

₹5,460 crore

₹1,400

₹1,874.4

Adani Ports & SEZ

₹5,282 crore

₹593

₹681.2

Adani Green

₹2,806 crore

₹501

₹716.8

Adani Transmission

₹1,898 crore

₹678

₹949.65

Total

₹15,446 crore




Three Adani group stocks still down by over 60%

Three group stocks are still down by over 60% of their value since January 24. Adani Total Gas and Adani Transmission have declined the most, while Adani Power and Adani Ports & SEZ have been the most resilient.

Company

Total decline since January 24

Adani Total Gas

-74%

Adani Transmission

-66%

Adani Green

-63%

Adani Enterprises

-46%

Ambuja Cements

-26%

ACC

-24%

Adani Wilmar

-24%

Adani Power

-22%

Adani Ports & SEZ

-11%


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