Since Monday’s early morning trade, there has been significant purchasing interest in Adani group equities ahead of the investor meeting slated for February 22, 2024. Adani Wilmar, a flagship company of the Adani group, saw a 7 percent increase in opening bell share price today as it rose to an intraday high of ₹372.50 per share on the NSE. Throughout Monday’s early morning trading, there was a lot of interest in buying Adani, Adani Ports, Adani Enterprises, Adani Green Energy, Adani Total, Ambuja Cements, NDTV, and other company shares.
Experts in the stock market state that the Adani group has scheduled an investors’ meeting for February 22, 2024, and that the market anticipates generating money from this gathering.
Setback for Adani group shares
Avinash Gorakshkar, Head of Research at Profitmart Securities stated, “Adani group has announced investors’ meeting on 22nd February 2024, which has triggered speculations about the fundraising. That’s why bulls have put their weight behind Adani group shares. However, the market is awaiting some official announcements regarding the agenda of this investors’ meeting for more clarity. Some of its bonds in the international bond market are getting matured and some outcome on the bond reset may also come out of this meeting. So, whatever triggers we are coming across right now are mere speculation and hence one should not make any investment decision based on these existing triggers. Investors are advised to wait for the outcome of the investors’ meeting of any official statement regarding the agenda of this investors’ meeting.”
Further update
The investors’ meeting was announced by Adani Enterprises to the Indian stock market bourses on Saturday. “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that the Company will interact with the investors as per schedule given hereunder: Thursday, 22nd February 2024 at 5:30 to 7:30 PM | In-person interaction with High Net Worth Individuals at Ahmedabad.”
