Indian bourse National Stock Exchange of India (NSE) on Monday revised the maximum daily permissible limit of price change for Adani Green Energy Ltd and Adani Transmission Ltd from 10% to 5%, according to data on its website.
Adani Enterprises Ltd, the group’s flagship company, jumped 20% on Tuesday morning, while Adani Ports and Special Economic Zone gained 8.9%.
Shares of Adani Green Energy gained 2.7% and Adani Transmission and Adani Wilmar gained 5% each. Adani Total Gas Ltd, however, fell 5% and Adani Power Shed 3%.
Several Adani group companies are reporting quarterly results this week, with Adani Ports and Adani Green set to report later in the day.
Although the shares were improving, the cumulative losses of the Adani Group’s seven listed companies are still $105 billion since a January 24 Hindenburg Research report alleging that it engaged in stock manipulation and use of tax havens happened. It also said that the group had unsustainable debt.