Adani stocks gain up to 5% after stock exchanges widen circuit filters

Of the four scrips which underwent price band change, only Adani Green closed 0.75% down at Rs 985.45

Adani group stocks notched up gains of up to 4.5 per cent following changes in daily price bands by the stock exchanges. Adani Power surged the most, adding 4.49 per cent on the BSE, while the gains in Adani Transmission and Adani Wilmar were 2.62 per cent and 0.98 per cent, respectively. Of the four scrips which underwent price band change, only Adani Green closed 0.75 per cent down at Rs 985.45.

Effective Wednesday, the circuit limit for Adani Power has been revised from 5 per cent to 20 per cent while that for Adani Transmission, Adani Wilmar and Adani Green have been changed from 5 per cent to 10 per cent by the exchanges.

Through circuit filters, stock exchanges limit the daily fluctuations and participation in a stock to stop unduly fall or rise in prices. Once the circuit limit is reached either on upside or downside, the stock price cannot move further in that direction.

The Adani Group stocks have witnessed several revisions in daily price limits this year following the sharp volatility triggered by allegations of Hindenburg Research. The exchanges had first decreased the limit on January 30.