Adani Group’s stocks experienced notable gains on Tuesday, propelled by a Bloomberg report revealing that the US had extended financing to the conglomerate’s port terminal in Sri Lanka. This move followed the dismissal of allegations by Hindenburg Research, providing a fresh trigger for investors. The surge in stock prices, adding Rs 61,493 crore to market cap, coincided with a broader market rally driven by the BJP’s significant electoral success in three Hindi belt states. Notably, Adani Enterprises Ltd. and Adani Ports and Special Economic Zone Ltd. led the charge, with Adani Green witnessing a remarkable 13% increase.
Investor optimism was further stoked by the Adani Group’s strategic decision to ramp up capital expenditure, signaling a commitment to driving future growth. The positive market sentiment extended across various sectors within the conglomerate, with Adani Wilmar, power, and energy stocks rising by 4-6%. Additionally, other market players such as NDTV, Ambuja Cements, and ACC also saw gains ranging from 3-5%. Overall, the confluence of international financial support, electoral victories, and expansion plans contributed to a significant uptick in Adani Group stocks and investor confidence.
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