Adani shares scale dizzy heights; Power, Total Gas, Green Energy rally 16%

Against a 2.7% rise in Sensex, these stocks climbed 13%

Mumbai: As bulls are running amok on bourses, stocks of Adani Group companies have scaled a dizzy height.

Adani Enterprises, Adani Power, Adani Ports and Special Economic Zone, Adani Total Gas, Adani Wilmar, Adani Energy Solutions, Adani Green Energy, Ambuja Cements, ACC, and New Delhi Television (NDTV) rallied 3 per cent to 16 per cent in the early trade on Tuesday following the exit poll reports that Modi would retain power with a comfortable majority.  

At 9.30 am, against a 2.7 per cent rise in the Sensex, these stocks climbed 13 per cent. With this, the total market capitalization of 10 Adani Group companies increased by Rs2.02 lakh crore to Rs19.88 lakh crore in the intraday.

Investors and market pundits are of the view that the victory of PM Modi augurs well for the economy and capital markets as it provides stability and continuity of policies under a single-party majority government.

Adani Group is among India’s top business houses with integrated energy and infrastructure platforms in India and a long track record of successfully executing large-scale projects.