In cases of high volatility in stocks, the exchanges put them in the short or long term Additional Surveillance Framework. This is done to protect investors from speculative trades. Shares of Adani Group rose for the sixth consecutive day on Wednesday. Prior to this, there was a decline in them for more than a month. But in the recent past, due to several positive news, the shares of the group have gained momentum. Last week, GQG Partners invested heavily in four group companies. Also, the group had announced prepayment of debt of Rs 7,374 crore. Due to this, the shares of the group rose and its market cap crossed Rs 9 lakh crore.
Five stocks touched upper circuit
On Wednesday, all the shares of Adani Group gained momentum. Adani Enterprises shares closed up nearly three per cent, while five others touched the upper circuit of five per cent. These include Adani Green Energy, Adani Power, Adani Wilmar, Adani Transmission and Adani Total Gas. Earlier, due to the fall in Adani Group’s shares, NSE had put three shares of the group in the surveillance framework on February 3. These include Adani Enterprises, Ambuja Cements and Adani Ports. Ambuja Cements and Adani Ports were pulled out of the framework last month, while Adani Enterprises was pulled out recently.
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