Adani Group Shares Soar Amid Market Surge: Power Shares Lead with 16% Rally

Shares of Adani Group companies continued their sharp rally as Adani Power surged nearly 16%. The combined market valuation of the ten listed firms reached Rs 19.42 lakh crore. The surge aligns with a bullish market, further boosted by exit polls predicting a third term for Prime Minister Modi.


PTI | New Delhi | Updated: 03-06-2024 16:53 IST | Created: 03-06-2024 16:53 IST
Adani Group Shares Soar Amid Market Surge: Power Shares Lead with 16% Rally
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Shares of all Adani Group companies continued their sharp rally on Monday, with Adani Power leading the surge with a nearly 16 per cent increase. This comes amidst a significant rise in the equity market, propelling the combined market valuation of the ten listed firms to Rs 19.42 lakh crore.

The stock of Adani Power saw a meteoric rise of 15.64 per cent on the BSE, while Adani Ports rallied 10.25 per cent. Other group entities, including Adani Energy Solutions and Adani Total Gas, also posted substantial gains of 8.84 per cent and 7.77 per cent respectively. The flagship firm, Adani Enterprises, witnessed a considerable jump of 6.86 per cent, while Adani Green Energy surged 6.39 per cent.

Boosted by the exit polls predicting that Prime Minister Narendra Modi is set to retain power for a third consecutive term, with the BJP-led NDA anticipated to win a significant majority in the upcoming Lok Sabha polls, the market sentiment was overwhelmingly positive. Shares of many group firms rebounded to levels seen before the Hindenburg Research report, reflecting investor confidence returning.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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