While the Indian stock market slid into the red on Monday with other Asian peers, the stocks of the listed Adani companies continued to defy the market and hit new milestones. In a recent surge, the power, and energy arm of the Adani conglomerate, the Adani Power, crossed INR 1 lakh crore ($13.4 billion) in market valuation.
What Happened: The company became the sixth group firm to cross the milestone after its shares rose to an all-time high of INR 272 apiece after hitting a 5% upper circuit. An upper circuit is a maximum level defined by the stock exchange to which a stock can move in a day.
