New Delhi: The shares of Adani Group companies, including Adani Enterprises, Adani Power, Adani Ports, Adani Green Energy were trading in Green on Monday after the Gautam Adani-led conglomerate reported a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in 2023-24.
The conglomerate, which is involved in several businesses, made a massive comeback following the Hindenberg Research report which had led a serious blow to the market valuation of Adani companies.
Adani Enterprises, the stock of the flagship company of Adani Group was trading at Rs 3,718, while Adani Green shares were trading at Rs 2,024 a piece at 10 am.
Adani Ports and Special Economic Zone shares were at Rs 1,602 and Adani Energy Solutions shares were trading at Rs 1227.35 per equity share.
Adani Wimar shares trading at Rs 369.45, Adani Total Gas share price at Rs 1133.35, Ambuja Cements at Rs 660.55, NDTV stock trading at Rs 263.25, ACC at Rs 2,625 apiece at 10:06 am.
Meanwhile, the Sensex and Nifty are also haong a dream run today as the indices hit all-time high levels as exit polls predict massive win for BJP-led NDA in Lok Sabha Election 2024.
Adani portfolio delivers record 45% EBITDA growth in FY24
Following the US short seller report, which extensively hit the market value of Adani Group companies, the Group focused on containing debt, reducing founder share pledge and consolidating the business in core competencies.
The Gautam Adani led conglomerate declared its five-year CAGR (compound annual growth rate) for profit growth at 54 per cent in 2023-24.
“The performances for FY24 (2023-24 fiscal) and the past five years signify the strength and stability of Adani portfolio and the robustness of its businesses that despite all the external volatilities and headwinds continue to deliver strong and consistent growth year after year. It also highlights its superior capital allocation strategy that maximises returns and minimises risks,” the statement said.
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The share prices of Adani Enterprises, Adani Power, Adani Ports, Adani Green Energy, Adani Wimar, Adani Total Gas share, Ambuja Cements and NDTV rallied on Monday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
