Adani Power Surpasses Infosys Amid Stock Rally

Adani Power has overtaken Infosys in market cap, becoming India's 11th most valuable firm. Stocks of several Adani Group companies saw notable gains during a mostly sluggish trading session.

On Wednesday, Adani Power ascended to become India's 11th most valuable company by market capitalization, surpassing tech giant Infosys. This advancement came in a broader session where market activity was generally muted.

Noteworthy gains were observed across the Adani Group's portfolio, with Adani Total Gas and NDTV experiencing substantial surges of 13.35% and 10.39%, respectively. Additionally, Adani Energy Solutions witnessed a 5.28% increase, while Ambuja Cements rose 2.28%. Adani Green Energy and other group companies also recorded positive growth. At the close of trade, the overall market value of Adani's firms reached Rs 19.44 lakh crore. Adani Power's market cap was Rs 4,79,706.78 crore, notably above Infosys, which stood at Rs 4,70,111.69 crore. Adani's shares have seen significant growth this year, reflecting a 74% rise, contrasted by a downturn in Infosys shares over the same period. The remarkable performance also marked 52-week highs for several Adani entities despite a drop in key market indices.