Adani Enterprises Ltd.’s stock surged nearly 5% on Wednesday, making it the fourth largest contributor to the NSE Nifty 50 index. The share price rose 4.88% to ₹2,987.50, marking its highest level since October 18, continuing a strong upward trend.
This marked the third consecutive day of gains for Adani Enterprises, adding 6.53% to its market capitalisation. As of 12:14 p.m., the stock traded 4.50% higher at ₹2,976.75, outperforming the Nifty 50 index, which dipped by 0.11%.
In terms of point contribution, Adani Enterprises, holding a 0.65% weight in the Nifty 50, contributed 7.09 points. Other major contributors included Larsen & Toubro Ltd., Maruti Suzuki India Ltd., and ITC Ltd., which took the top three spots.
Adani Enterprises also led among other Adani Group stocks, with the entire group benefiting from positive sentiment following strong quarterly results from Adani Ports and Special Economic Zones Ltd. Adani Group’s total market cap increased by ₹2,999 crore to ₹15.59 lakh crore as of 12:13 p.m.
Adani Ports and Special Economic Zone’s stock rose 2.99% to ₹1,413.75, reaching its highest point since October 16. By 12:17 p.m., it traded 2.80% higher at ₹1,411.20, indicating investor optimism spurred by the company’s growth potential in Indian trade.
Adani Energy Solutions Ltd. gained 3.54%, reaching ₹963.50, its highest since October 15, and trading at ₹958.30 at 12:19 p.m. Adani Green Energy Ltd. also saw improvement, reversing early losses to trade 0.68% higher at ₹1,646.15 as of 12:21 p.m.
