New Delhi: Adani Group Stocks Surge Amid Market Rally
The Adani Group companies experienced significant momentum on Thursday, driven by a sharp rally in Indian indices. The flagship company, Adani Enterprises, led the charge with an 8% increase, becoming the top gainer of the day.
The surge in Adani Enterprises (AEL) shares was fueled by reports of its potential inclusion in the 30-share BSE Sensex, replacing Wipro in the upcoming benchmark index reconfiguration, which may be announced on Friday.
“We anticipate the inclusion of Adani Enterprises and the exclusion of Wipro from the Sensex,” noted IIFL Alternative Research in a statement.
On Thursday, AEL stock rose by 8.01%, reaching Rs 3,391.20 per share on the BSE.
Other Adani Group companies also performed well. Adani Ports saw a 4.72% increase, while ACC Limited’s shares rose by 2.86%. NDTV shares surged by 7.56%, Adani Power increased by 2.79%, Adani Total Gas by 2.30%, and Ambuja Cements by 2.09%.
Additionally, Adani Wilmar shares increased by 1.85%, Adani Green Energy by 1.25%, and Adani Energy Solutions saw a 1.17% rise.
The combined market valuation of the 10 listed Adani Group firms now stands at Rs 17.23 lakh crore.
Meanwhile, US-based global brokerage Cantor Fitzgerald has set a target price of Rs 4,338 per share for Adani Enterprises.
