Adani Group stocks rally; mcap nears Rs 18 lakh crore dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
The shares of Adani Group portfolio of companies surged nearly 10 per cent on Friday amid heightened trading activity, as Sensex snapped the losing streak of the last five trading sessions.
Adani Group, rebounding from market losses caused by a US short seller report in early 2023, is now on an "expansion spree," aiming for a USD 90 billion capex over the next decade. Jefferies reports a 40% YoY EBITDA growth, with focus on debt containment and fresh funds. Various Adani companies witnessed significant developments, including acquisitions, power plant commissioning, and renewable energy capacity addition.