This Adani Share Surged 40% in Last 4 Days - Check Details Here

Amid the allegations from the US Department of Justice on key directors of the group, the shares of key companies in the Adani Conglomerate remain unaffected and continue to follow the broader market trends. However, interestingly one of the Adani stocks has outperformed many with over 40 per cent gains in the last four days.

The shares of Adani Green Energy, the renewable energy company in the Adani Group, have surged 39.14 per cent in the last five trading sessions, recording over 40 per cent returns in the first four trading sessions with some flat moves being recorded on Monday.

The shares of the Ahmedabad-based company ended at Rs 1,328.70 apiece with a sharp rise of over Rs 373 in the last 5 trading sessions.

Why Adani Green Energy Stocks Are Rising?

The shares of the company are recovering from a steel fall registered after the DOJ allegations which led them to fall as low as Rs 898 apiece. The shares are still 17 per cent down on a monthly basis while the declines get deeper if we see the last six months' returns which amounts to 34.8 per cent in losses.

Adani Green also gained on the back of strong backing from its key investors including CQG Partners which reaffirmed their faith in the Adani group

Apart from CQG, International Holding Company, the investment arm of Abu Dhabi's ruling family, also shared its confidence in the conglomerate.

On Tuesday, the shares of the company fell as much as 1.05 per cent or Rs 14, as the stock was trading at Rs 1,314.00 apiece as of 09:45 AM.