Adani Group shares soar after Sebi clears investigation
Channel: Stars Vibe
Date: 2023-05-22

Shares of Adani Group companies saw a superb trading session on Monday, with Adani Enterprises soaring nearly 19%. Investor sentiments were boosted after markets regulator Sebi drew a blank in investigations into suspected violations in overseas investments in the Adani Group. With Adani Group stocks settling on a strong note and six listed stocks closing at their respective upper price bands, the Indian equity market also extended gains for the second straight session. The surge in Adani Enterprises followed reports that the Indian conglomerate may monetize select real estate assets. Despite YTD declines, the stock has traded higher than its moving averages, with a P/E ratio of 137.48 and a P/B value of 16.01.
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