Adani Shares Are Rising Today, Adani Green Up 15%; Is BJP's Electoral Success Driving The Rally?

The share price of Gautam Adani-led firms including Adani Green Energy, Adani Enterprises, Adani Total Gas, and Adani Power skyrocketed over 10% in the intraday trading on Monday. The surge in Adani group shares is backed by a slew of factors main among them being the rally in the broader market, positive investors' sentiments after the group stocks witnessed a stark jump in share price last week, and the recent electoral success of Bharatiya Janata Party (BJP) according to market observers.

Today, the share price of Adani Group's falgship firm Adani Enterprises was up 6.15% at Rs 2507.35 per share at 11:06 am IST. At this price, the company has a market capitalization of Rs 2,85,838.18 crore.

Here's how other Adani group stocks are performing today:

Adani Green Energy:

At 11:30 am IST today, the share price of Adani Green Energy was spotted trading 7.56% higher at Rs 1104.15 per share. Today, the stock saw a spurt in trading volume by more than 3.33 times.

Adani Power:

Today, the share price of Adani Power Ltd was up 5.67% at Rs 465.15 per share at 11:31 am IST. In the intraday trading session, Adani Power shares traded on new 52 Week High value of Rs 495.00.

Adani Ports And Special Economic Zone:

On Monday, Adani Ports shares traded 5.49% higher at Rs 872.95 per share at 11:34 am IST. At this price, the company has a market capitalization of Rs 1,88,742.14 crore. Adani Ports shares grabbed attention after in a business update, the company informed that APSEZ recorded 42% YoY growth in Nov '23 cargo volumes and AICTPL becomes the first terminal in India to handle over 3,00,000 containers in a month.

Adani Total Gas Ltd:

The share price of Adani Total Gas was up 4.25% at Rs 731.05 per share at 11:37 am IST today. The stock touched the upper Circuit Rs. 644.15 on November 28, 2023.

The recent rally in Adani group shares has boosted investors' confidence in the group companies and that is why there is strong buying seen in the shares of companies owned by the Gautam Adani-led Indian conglomerate. Adani shares faced challenging times after the US Shortseller Hindenburg Research leveled allegations of stock price manipulations against the group in its January 24 report this year.

However, the group stocks rebounded and saw the best day on November 28 after the Supreme Court in its latest hearing the Supreme Court reserved its order on a batch of petitions concerning the Adani-Hindenburg row. The top court noted that it had no reason to "discredit" market regulator Securities and Exchange Board of India's (Sebi) investigation against the Indian conglomerate.

The court said that it does not have to treat what was stated in the Hindenburg report as a "true state of affairs". The SC bench also observed that it cannot ask a statutory regulator to take as a "gospel truth" something which was published in the media.

Adani Group has seen a wealth surge of more than Rs 1.76 lakh crore in last one week

Meanwhile, it is also believed that the chances of the BJP government winning the 2024 Lok Sabha elections may also contribute to the rally in shares of Adani group firms, as per analysts.

Nonetheless, investors are also taking a keen interest in Adani group shares after recently CFO of Adani Group Jusgeshinder Singh reportedly said that the group is looking to invest Rs 7 lakh crore in infrastructure in the coming decade.