The S&P BSE Sensex rallied over 1,300 points while the Nifty50 closed with gains of over 400 points to close at 20,686. The S&P BSE Sensex hit a record high of 68,918 while the Nifty50 hit a high of 20,702. Sectorally, buying was seen in oil & gas, banks, public sector, power and capital goods stocks.
Ardour Investment Holding and Emerging Market Investment DMCC, who are part of the promoter group entities, acquired 7.92 crore shares or 2.06% stake in Adani Power between September 26 and November 16. In the early part of September, promoter entities Fortitude Trade and Investment Ltd and Emerging Market Investment DMCC had acquired 8.5 crore shares or 2.2% stake in Adani Power, which had taken the cumulative holding of the promoter group to 69.09%.
Adani Power stock is just 4.8% shy of its 52-week high of Rs 409.70. The stock has rallied 194% since hitting its 52-week low of Rs 132.40 on February 28, 2023, in the aftermath of the Hindenburg report.