The upward trend seen in Gautam Adani's companies for the past few days continued on Wednesday as well. Despite the declining trend in Sensex and Nifty, 4 out of 10 companies of Adani Group hit the upper circuit shortly after the market opened.
Ever since the investment of investor Rajeev Jain's investment company in Adani Group increased, the companies of the group are seeing a boom. Rajeev Jain has already been supporting Adani Group in difficult times and now he has increased his total investment by 10% more.
Upper circuit installed in these 4 companies
The companies of Adani Group which have upper circuit include Adani Transmission, Adani Green Energy, Adani Total Gas and NDTV. While the shares of two companies of the group opened with a positive note. These include the names of Adani Power and Ambuja Cement.
Apart from this, minor softening has been seen in the shares of 4 other companies of Adani Group such as Adani Port and Special Economic Zone (APSEZ), Adani Enterprises, Adani Wilmar and ACC Limited.
Hindenburg Research, a US-based short seller company, had released a report in January regarding the activities of the Adani Group. Since then, a period of decline is being seen in the companies of the group continuously. In recent times, the share price of group companies has seen a jump after a long time.
Falling again stock market
On Wednesday, the stock market started with a declining trend. The NSE Nifty opened at 18,269.70 points, down 78.3 points, while it closed at 18,348 points on Tuesday. Similarly, the BSE Sensex also fell 251.26 points to open at 61,730.53 points. It had closed at 61,981.79 points in the last trading day.
However, after this the market saw improvement and soon both the indices came into the green zone. On the other hand, other Asian stock markets such as Kospi of South Korea, Nikkei of Japan, Shanghai Composite of China and Hangseng of Hong Kong remained in loss.
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