Adani Power, Adani Green to Adani Enterprises — Why are Adani group shares skyrocketing? EXPLAINED

Shares of Adani group companies witnessed strong buying action in trade on Tuesday, January 14, with all the group companies trading in the green.

All 10 Adani group stocks gained today, rising up to 18%. Adani Power stocks emerged as top gainers, rallying over 18% on the NSE to ₹532.95 apiece. They were followed by Adani Energy Solutions and Adani Green Energy, which surged over 12% each.

Adani Energy Solutions stock was at ₹773.55 while Adani Green stock was at ₹1,002.85 on the NSE.

Adani Total Gas share price surged over 9% to ₹687.60 apiece while NDTV shares also galloped 9% to ₹152.10. The flagship Adani group company and part of the Nifty 50 pack, Adani Enterprises, gained 8.50% to trade at ₹2,414.25 per share around 11.05 am.

ACC, Adani Ports, Ambuja Cement and Sanghi Industries gained between 4-5%. Adani Wilmar, wherein the company is looking to exit, also rebounded after bear hammering seen over the last two sessions following the launch of its offer for sale, and gained around 3%.

Why are Adani Group shares rising?

According to market experts, the rise in Adani group shares follows a speculative buzz around fundraising plans.

Adani group shares are rising due to speculative buzz about the fundraising, said Anshul Jain, Head of Research at Lakshmishree Investment and Securities.

“The market expects Donald Trump's re-entry at the White House to make it easier for the Adani group to raise overseas funds, and hence, we are witnessing fresh buying interest in Adani group shares,” said Jain.

Mint could not independently verify this report. An Adani Group spokesperson declined to comment on the development but stated that the company is actively engaged in discussions with various institutions as part of its ongoing business activities.

While the Adani group shares are rallying, analysts advised against fresh buying given the speculative nature of the gains.

“Adani group shares are rising on speculations, so fresh buying is not advised until there is some official statement in this regard. My suggestion to fresh investors is to wait for the official statement by the Adani group. Those exposed to Adani group shares are advised to maintain strict stop loss and remain invested,” recommended Mahesh M Ojha, AVP — Research at Hensex Securities.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.