Amidst the historic rise of the market, the rising trend in the shares of Adani Group continues. Many of Adani group companies have rallied up to 20% in intraday trade since last week. Meanwhile, the stock of Adani Total Gas (ATGL) has almost doubled the investors' money in just 8 trading days. On Wednesday, The shares of Adani Total Gas rose by 20 percent in intraday trade.
Adani Total Gas Doubles Money in 8 Days
The shares of the company were trading at the level of Rs 530 on November 23. The stock crossed the level of Rs 1000 in just eight trading days. It shows returns up to 100 percent. That means the investor who had invested on November 23 would have doubled his amount. Earlier, the stock had touched 52 52-week low of Rs 521.95 in October.
Why Adani Group's stock is on upward trends
The last 10 days have been a fortune days for Adani Group and the investors who have invested in Gautam Adani's group stocks. Last week, the Supreme Court had commented while reserving a verdict on PILs seeking investigation of allegations leveled by American short-seller Hindenberg. Investors positively took the comment, and since then all the Adani Group stocks have been unstoppable.
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Subsequently, developments like the Bharatiya Janata Party (BJP) won 3 states and then the United States government's comment (Irrelevant Allegations) on Hindenberg issue gave consolidated reasons for a rally of Adani group's stock this week as well.
Adani Group stock performance today
Adani Green Energy - Closed with around 15% gain
Adani Energy Solution - Closed with around 7% gain
Adani Wilmar - Closed with around 4 percent gain