Adani Group stocks surged higher on Wednesday morning while the benchmark indices traded flat. The sharp up-move came after Adani Green, on Wednesday morning, announced the acquisition of SB Energy India for $3.5 billion — the largest acquisition in the renewable energy sector in India. With this, Gautam Adani’s renewable energy firm will achieve a total renewable capacity of 24.3 GW and an operating renewable capacity of 4.9 GW. Adani Green shares were up 5% on Wednesday morning at Rs 1,258 per share, Adani Transmission jumped 4.73% to trade at Rs 1,320 apiece, while Adani Power was up 4.96% at Rs 106.95.
(To be updated)