Adani group stocks in heavy demand; Adani Energy zooms nearly 18%, NDTV jumps over 11%

Shares of Adani group of companies jumped in morning trade on January 3, defying a weak trend in the broader equity market, after the Supreme Court ruling that there was no ground to order an investigation by a SIT or other probe agency into allegations against the group.

Shares of Adani group of companies jumped in morning trade on January 3, defying a weak trend in the broader equity market, after the Supreme Court ruling that there was no ground to order an investigation by a SIT or other probe agency into allegations against the group.

The Supreme Court on January 3 said capital market regulator Securities & Exchange Board of India (SEBI) must conclude its probe within three months.

Adani Energy Solutions zoomed 17.83%, NDTV jumped 11.39%, Adani Total Gas climbed 9.99 %, Adani Green Energy soared 9.13% and Adani Enterprises surged 9.11% on the BSE.

Shares of Adani Wilmar went up by 8.52%, Adani Ports climbed 6%, Adani Power (4.99%), Ambuja Cements (3.46%) and ACC 2.96%.

Two of the group firms — Adani Ports and Ambuja Cements — also hit their 52-week high levels during the morning trade. In the equity market, the 30-share BSE Sensex traded 319.47 points lower at 71,544.60, and the Nifty quoted 104.30 points down at 21,561.50.

The Supreme Court on Wednesday directed SEBI to complete its probe into two pending cases relating to allegations against the Adani group within three months.