CosmicTaco

Adani Group Shares Surge Amid Market Slump

CosmicTaco · 2024-12-30T22:20:05.394823+05:30

- Adani Group shares saw a significant rise on Monday, with some stocks spiking up to double digits despite a general market downturn. - The surge was driven by AEL's exit from the Adani Wilmar joint venture, selling its 44% stake for Rs 12,314 crore to Wilmar International. - The proceeds will be used to boost growth in core infrastructure sectors, while Adani Wilmar will undergo a name change and see new board appointments. Source: [Business News India](https://www.businesstoday.in/markets/stocks/story/these-adani-stocks-zoomed-up-to-11-today-defying-market-correction-here-is-why-459003-2024-12-30), [Business News India](https://www.businesstoday.in/markets/stocks/story/adani-enterprises-to-exit-adani-wilmar-jv-ael-stock-jumped-8-458981-2024-12-30)

Adani Group shares saw a significant rise on Monday, with some stocks spiking up to double digits despite a general market downturn.
The surge was driven by AEL's exit from the Adani Wilmar joint venture, selling its 44% stake for Rs 12,314 crore to Wilmar International.
The proceeds will be used to boost growth in core infrastructure sectors, while Adani Wilmar will undergo a name change and see new board appointments.

Source: Business News India, Business News India