Synopsis: ACC Ltd, Ambuja Cements, and NDTV, three acquired companies under the Adani Group, traded in the green, contrasting with broader market trends. ACC rose by 2.25%, Ambuja Cements by 3.14%, and NDTV gained 2.7%, with each stock witnessing significant market capitalization growth.
The stock market has been witnessing considerable volatility, particularly affecting companies from the Adani Group, a conglomerate led by Gautam Adani.
Amidst these turbulent market conditions, some of Adani Group’s acquired companies, namely ACC Ltd, Ambuja Cements, and New Delhi Television Ltd (NDTV), have managed to stay in the green, showcasing resilience despite broader market challenges.
The performance of these stocks is quite significant, considering the broader backdrop of market fluctuations.
ACC Ltd, a key player in the cement sector, saw its shares rise by 2.25%, reaching Rs. 2,071.55 during Friday's trading session.
The stock had previously closed at Rs. 2,025.80, and its market capitalization is hovering near Rs. 40,000 crore.
Ambuja Cements, another cement giant within the Adani Group, experienced a notable 3.14% increase, climbing to Rs. 498.95, from its previous close of Rs. 483.75.
Its total market value is now approaching Rs. 1.25 lakh crore, highlighting its significant standing in the market.
NDTV also gained 2.70%, crossing the Rs. 1,100 crore mark in terms of market capitalization.
While these stocks performed well, other Adani Group companies faced a rougher day, with several experiencing significant losses at the opening of the market.
For instance, Adani Enterprises, the flagship company, witnessed a 7% drop in early trading but later recovered slightly, closing at Rs. 2,134.45—a 2.2% decrease.
Similarly, Adani Ports and Adani Power also struggled in the morning, but managed to trim their losses by the end of the session.
Some other companies, such as Adani Wilmar and Adani Energy Solutions, saw initial sharp declines but managed partial recoveries during the trading day.
However, shares of Adani Green Energy and Adani Total Gas remained under pressure, shedding 7.5% and 2%, respectively, by the end of the session.
In conclusion, while the Adani Group has faced considerable volatility, particularly with a sharp market correction, its acquired entities—ACC, Ambuja Cements, and NDTV—demonstrated notable growth amidst the market turmoil.
This highlights the potential strength and market interest in these companies despite the overall challenges faced by the Adani Group.
The ability of these stocks to remain resilient suggests investor confidence in these entities, especially in comparison to the broader market's fluctuating performance.
Disclaimer: This article provides stock market news for informational purposes only. It should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
