Adani Group shares in focus; Adani Total Gas, Transmission hit new highs

Adani Transmission rallied 5% to Rs 1,995, while, Adani Total Gas was up 4 per cent to Rs 1,715 on the BSE in the intra-day trade on Friday

Shares of Adani Group companies were in focus on Friday with two group stocks -- Adani Total Gas and Adani Transmission -- hitting their respective record highs, while its flagship company Adani Enterprises trading close to its all-time high level on the BSE. In the past one month, these three stocks have outperformed the market by surging up to 20 per cent, as compared to a 0.28 per cent rise in the S&P BSE Sensex.

Individually, Adani Transmission rallied 5 per cent to Rs 1,995, surpassing its previous high of Rs 1,990 hit on September 15, 2021, in the intra-day trade today. Adani Total Gas, on the other hand, was up 4 per cent to Rs 1,715 on the BSE in intra-day trade. Earlier, the stock had hit a high of Rs 1,680 on June 4, 2021. Currently, both these stocks are trading under T group on the BSE. In the T2T segment, each trade has to result in delivery and no intra-day netting of positions is allowed.

Adani Transmission is the country's largest private transmission company with a cumulative transmission network of around 18,300 ckm, out of which around 13,700 ckm is operational and around 4,600 ckm is at various stages of construction. Adani Total Gas is one of India's leading private players in developing City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to industrial, commercial, domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector.

Separately, Adani Enterprises gained 2 per cent to Rs 1,696 in the intra-day trade today. The stock of the flagship company of the Adani Group was trading higher for the 10th straight trading day, having rallied 22 per cent during the period. It had hit a record high of Rs 1,718.45 on June 7, 2021.

Adani Enterprises is presently focused on businesses related to airports, roads, water, data centre, solar manufacturing, defence and aerospace, edible oils and foods, mining, integrated resource solutions and integrated agri-supply chain.

Last month, Adani Wilmar (AWL) had received capital markets regulator Securities and Exchange Board of India's (Sebi's) go-ahead to launch initial share-sale. On August 2, 2021, Adani Enterprises announced that AWL, a 50:50 joint venture company between the Adani group and the Wilmar group (Singapore), had filed its draft red herring prospectus with the Sebi in relation to its proposed Initial Public Offering (IPO) to raise up to Rs 4,500 crore.

In the foods segment, AWL is one of the fastest growing FMCG companies in India. The Company provides the largest range of edible oils (drawn from soya, sunflower, mustard, rice bran, groundnut, cotton seed and others). As a growing foods brand, the Company ventured into the wider foods categories comprising packed basmati rice, pulses, soya chunks, besan, atta and khichdi. The company’s products portfolio comprises prominent brands like Fortune, King’s, Bullet, Raag, Avsar, Pilaf, Jubilee, Fryola, Alpha, Alife and Aadhar.

The net proceeds from the IPO are proposed to be used by AWL to fund capital expenditure for expansion of AWL's existing manufacturing facilities and developing new manufacturing facilities, repayment/prepayment of borrowings, to fund strategic acquisitions and investments and for general corporate purposes.

Meanwhile, Adani Green Energy was up 3 per cent to Rs 1,265.55 on the BSE. The stock had hit a record high of Rs 1,394 on May 25, 2021. Adani Power and Adani Ports and Special Economic Zone, other stocks from Adani Group, were trading 1 per cent to 2 per cent higher on the BSE. In comparison, the S&P BSE Sensex was up 0.52 per cent at 09:57 am.