Adani Group stocks zoom after BJP's three states win and positive report by US agency
Mumbai: Adani Group stocks have experienced a surge in the last few trading sessions, propelled by consecutive positive developments across all ten stocks.
A day after a resounding victory for the national ruling party BJP in three states, a US agency, the International Development Finance Corp (DFC), found allegations from Hindenburg Research on stock manipulation and accounting fraud by the group as 'irrelevant' during its due diligence for a loan extension to a group company for a container terminal project in Sri Lanka, as reported by Bloomberg.
As expected, Adani stocks gained momentum on these favourable factors.
The group's market capitalisation surpassed Rs 14 lakh crore on Tuesday, marking an increase of approximately Rs 1.6 lakh crore in value, the report said.
Three stocks, namely Adani Power, Adani Energy, and Adani Total Gas, hit the upper circuit in Tuesday's trading session, according to Zerodha.
Notably, the top five gainers on BSE included Adani group stocks such as Adani Enterprises, Adani Green, Adani Total Gas, NDTV, and Adani Enterprises.
In the Nifty50, Adani Enterprises and Adani Ports & SEZ emerged as the two leading gainers.
The collective market capitalisation of Adani group companies exceeded Rs 13 lakh crore in the latest trading session.
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