In a truncated week, seven Adani Group companies saw a net loss of ₹4,837 crore in market cap this week
Adani Transmission Ltd, Adani Green Energy Ltd, and Adani Total Gas Ltd lost market cap between ₹500 crore and ₹4,400 crore, while Adani Power Ltd, Adani Enterprises Ltd, Adani Ports & Special Economic Zone Ltd, and Adani Wilmar Ltd gained market cap between ₹300 crore and ₹2,604 crore.
On Thursday's session, Adani Green Energy , Adani Transmission , and Adani Total Gas each closed 5% higher.
Adani Enterprises, Adani Power Ltd, and Adani Wilmar, and Adani Ports & Special Economic Zone closed up between 0.7% and 4%.
Notably, according to Mint, the Adani Group intends to increase its group-level running earnings by nearly 50% to approximately ₹91,000 crore over the next two fiscal years.
The conglomerate's top investor recently expressed his belief that it will become a multibagger in the near future. Rajiv Jain of the GQG Partners Inc. stated that the company can produce a return greater than 100%. Last month, he invested around $2 billion in Adani Group stocks.
| Scrip Name | Closing Price as on March 24 (Rs) | Closing Price as on March 31 (Rs) | % Change | Market cap this week ( ₹crore) |
| Adani Power | 191.6 | 192.9 | 0.7% | 501 |
| Adani Enterprises | 1,750 | 1,754 | 0.2% | 387 |
| Adani Total Gas | 868 | 863 | -0.6% | -518 |
| Adani Transmission | 993 | 953.2 | -4% | -4,374 |
| Adani Green Energy | 881 | 856.35 | -2.8% | -3,869 |
| Adani Ports & Special Economic Ltd | 632 | 641.6 | 1.5% | 2,604 |
| Adani Wilmar | 406 | 409.2 | 0.8% | 432 |
| Total | -4,837 |
Technical Views
Kapil Shah, Technical Analyst, Emkay Global and Technical Trainer, Finlearn Academy, said that Adani Enterprises, on weekly chart stock has formed perfect Doji candle which represents indecisions in price movement. The stock is under very volatile range of ₹1,570 to ₹1,900. The stock can trade in the mentioned range in the coming time.
According to Shah, Adani Ports & Special Economic Zone stock faced resistance at ₹720 level, which is very important role reversal where previous supports turned out be stiff resistance. Even positional moving average coincides with resistance.
“It shows potential top formation for the stock. Stock has immediate resistance at 655 level. Stock will be under pressure as far as sustain below 655 level. Stock has immediate support at 600 level,” said Shah.
Further, Adani Transmission, on weekly chart stock has formed dark cloud cover pattern which is bearish reversal sign. On daily chart, the stock has moved below short term moving average. It is bearish continuation sign, said Shah.
