Adani Group Soars as Modi Rally Sparks Investor Optimism
Key Ideas
  • Adani group shares surged up to 16% as political continuity hopes drive investor confidence during 'Modi rally'.
  • Kotak and Jefferies highlight the government's focus on energy transition, infrastructure, and manufacturing to boost investments.
  • Adani Enterprises plans to start Green Hydrogen production by FY27 and expand into various sectors like airports and data centers.
  • Adani Green Energy and Adani Total Gas are scaling up their operations with ambitious capacity and business expansion plans.
The BSE Sensex witnessed a significant surge of over 2,600 points in what is being called the 'Modi rally', leading to a positive investor sentiment. Adani group shares experienced a notable increase, with some hitting 10% circuit limits. The market capitalization of Adani group reached pre-Hindenburg Research levels, with key stocks like Adani Enterprises, Adani Ports, and Adani Power recording impressive gains. Exit polls for the 2024 Lok Sabha elections indicate a potential majority for the BJP-led NDA, further boosting market confidence. Kotak and Jefferies foresee a continuation of the government's economic agenda, emphasizing energy transition, infrastructure development, and manufacturing growth. Adani group's expansion plans, including ventures into Green Hydrogen production, airport operations, data centers, and other sectors, are highlighted. Adani Green Energy and Adani Total Gas are set for significant capacity expansions and new business segments. The overall outlook remains positive, with a focus on business growth and market optimism regarding the government's economic strategies.
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