Adani Group gains Rs 1.7 lakh crore in market value in just two days

This sharp rise in Adani Group shares has boosted investor confidence and reflects the group’s strong market presence.

Mumbai: Shares of Adani Group companies saw a strong rally for the second consecutive day on Monday. Adani Power reached a 15-month high after market regulator SEBI dismissed Hindenburg Research's allegations. Shares of other group companies, such as Adani Total Gas, Adani Green Energy, Adani Enterprises, Adani Ports, Sanghi Industries, and cement companies, also saw strong gains. The Adani Group's valuation has increased by a massive Rs 1.7 lakh crore in these two days.

Adani Power Sets New One-And-A-Half-Year Record

Adani Power shares rose 19.99% to ₹170.15 on the BSE, its highest level in one and a half years. Additionally, shares of Adani Total Gas rose 17.49 percent, Adani Green Energy 8.12 percent, and Adani Energy Solutions 5.67 percent. Other group companies also saw gains, with Adani Enterprises gaining 4 percent, NDTV 3.51 percent, Sanghi Industries 3.29 percent, Adani Ports 2 percent, and ACC and Ambuja Cements each gaining 2 percent. This occurred despite pressure across the stock market, with the Sensex falling more than 500 points and the Nifty closing down 131 points.

Adani Group plans additional Rs 30,000 Cr for domestic ports expansion

SEBI's Clean Chit Boosts Investor Confidence

This surge comes after SEBI issued an order on Thursday stating that it found no evidence of stock manipulation or related-party abuse alleged by Hindenburg Research. Hindenburg Research had made several serious allegations against the Adani Group in early 2023, which SEBI has now dismissed. Following this decision, Adani Group shares continued to surge on Friday, with Adani Power gaining over 12%.

Global Brokerage's Buy Rating and Target Price

According to a Reuters report, global brokerage firm Jefferies has issued a "buy" rating on Adani Enterprises with a target price of Rs 3,000, a 25% premium to the current closing price. The brokerage also stated that new tariffs at the company's airports, excluding Mumbai, will boost revenue. Per passenger airfare revenue is projected to increase 1.5 to 2.5 times by fiscal year 2027-28.

No clear evidence of financial or reputational loss: Delhi Court to Adani

This sharp rise in Adani Group shares has boosted investor confidence and reflects the group's strong market presence. Following SEBI's clean chit and positive reports from global brokerage firms, the valuations of Adani Group companies are expected to continue rising. The group has now crossed a market valuation of Rs 15 lakh crore, which is a testament to its credibility in the Indian stock market.