Markets open strong, Adani Group shares continue to surge after reports of stake sale


Mumbai: Indian indices opened on March 3 with Nifty around 17,450. At 09:16 IST, the BSE Sensex rose by 373.34 points or 0.63% to reach 59,282.69, while the NSE Nifty increased by 120.10 points or 0.69% to reach 17,442. Of the total shares traded, 1373 advanced, 452 declined, and 93 remained unchanged.

Adani Enterprises, Adani Ports, SBI, Tata Steel, and L&T were among the major gainers on the Nifty, while Dr. Reddy’s Laboratories, Sun Pharma, HDFC Life, and ICICI Bank were among the losers.

Adani Group shares continue to surge with the flagship Adani Enterprises rose by 7.84% to Rs.1732.70 on the BSE. Similarly, Adani Power rose by 4.99% to Rs.169.45, Adani Ports and SEZ rose by 6.49% to Rs.663.65 and Adani Green Energy rose by 5% to Rs.562.

On Thursday Adani group said in a regulatory filing that its promoters raised $1.87 billion, or about Rs 15,446 crore, by selling stakes in four companies of the apple-to-airports conglomerate to U.S.-based investment firm GQG Partners. The investments were made across Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., Adani Green Energy Ltd., and Adani Transmission Ltd., according to a group statement.



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