India's Adani Ports recoups losses related to US indictment

Adani Total Gas

03/12/2024 07:41

** Shares of Adani Ports  APSE.NS  rise 7% to 1,302 rupees,
recouping all losses since U.S. indictment on Nov. 21
    ** Bernstein says APSE valuations cheaper compared to rivals
JSW infrastructure  JSWN.NS  and Container Corporation of India
 CCRI.NS 
    **  Kotak has Adani Ports as its top pick within
transportation space on improved market reach
    ** APSE up for third straight session, rising 12.2%
    ** U.S. authorities filed criminal charges against Adani
Group chairman Gautam Adani and other key executives for alleged
bribery, which the conglomerate denied as "baseless"
    ** APSE up 27% YTD, top gainer among 10 listed Adani Group
stocks
    ** Ambuja Cements  ABUJ.NS  climbs 5%, also recouping losses
on Tuesday
    ** Other Adani stocks that recovered losses include Adani
Total Gas  ADAG.NS , up 0.1% on the day; ACC  ACC.NS , which has
risen 2.8%, and NDTV  NDTV.NS , up 1.8%



 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))