In a bullish start to the trading week, the stock prices of key companies within the Adani Portfolio experienced a notable surge, with gains approaching 10 percent as markets opened on Monday.
This surge positioned the Adani Group among the top gainers in the market.
Leading the charge was Adani Ports and Special Economic Zone (ASPEZ), whose shares were trading at Rs 1,581 apiece, marking an impressive nearly 10 percent increase.
Following suit, Adani Total Gas Ltd witnessed a gain of over 9 percent, with its shares valued at Rs 1,137 each.
Similarly, Adani Enterprises saw its stock rise by more than 9 percent to Rs 3,727 apiece.
Further contributing to the upward momentum, Adani Energy Solutions experienced a surge of over 10 percent, with shares trading at Rs 1,242 each.
Meanwhile, Adani Green Energy Ltd witnessed a robust uptick of nearly 8 percent, with shares valued at Rs 2,056 apiece.
The recent surge in stock prices follows significant developments within the Adani Group.
Last week, Adani Ports inked a 30-year concession agreement with the Tanzania Ports Authority, securing the operation and management rights for Container Terminal 2 (CT2) at the Dar es Salaam Port in Tanzania, East Africa.
Furthermore, the Adani Group highlighted its consistent growth trajectory, citing a record EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) growth of 45 percent year-on-year in FY24.
This growth, totaling Rs 82,917 crore (approximately $10 billion), reflects the resilience and robust performance of the Adani Portfolio over the past five years.
Amidst these developments, brokerage firms and exit polls have forecasted an absolute majority for the Bharatiya Janata Party (BJP), further buoying market sentiment.
The surge in Adani Portfolio stocks underscores investor confidence in the group’s strategic initiatives, operational efficiency, and long-term growth prospects. As markets continue to react to ongoing developments, stakeholders keenly observe the Adani Group’s trajectory amidst broader economic and political dynamics.
Also Read: Adani Group’s Market Cap Rebounds To Pre-Hindenburg Levels, Surging Past Rs 18.5 Lakh Crore
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