Visa Joins Hands With Adani Group For Co-Branded Cards, Adani Stocks Rally

Payments gaint Visa Inc has joined hands with Adani Group for co-branded cards. "We signed a co-brand agreement with Indian conglomerate Adani, serving 400 million customers through retail, airports, and online travel services, among others," Ryan McInerney, chief executive officer at Visa, said during the quarterly earnings call, according to a BQ Prime report.

The partnership will give Visa access to customers passing through Adani's airports, and those using online travel booking portal Cleartrip and train booking platform Adani One. Adani has eight airports under its fold, seven brownfield and one greenfield coming up in Navi Mumbai. The seven operational airports are spread in states that contribute 45% of India's GDP, added the BQ Prime report.

The passenger traffic at these Adani-run airports jumped 103% year-on-year to 74.8 million in FY23.

Adani Enterprises Ltd. owns 20% in Cleartrip Pvt.

Adani One, its super app that also offers railway ticket booking services, is part of the Adani Digital Labs Pvt. The company targets users across the group's consumer-facing businesses. Within a month, Adani One onboarded over one million users. The company expects to hit 500 million users by 2026 for the app, which is an integrated digital platform to access Adani and partner services, stated the BQ Prime report.

Meanwhile, Adani Group stocks witnessed a rally in trade today. Adani Enterprises shares rallied marginally by 0.15% on BSE to Rs 2469.10 per share. Shares of Adani Ports And Special Economic Zone Ltd zoomed 0.45% to Rs 752.75 per share.

Adani Power stock declined 1.73% intraday on BSE and ended at Rs 255.45 apiece. Adani Group stock Adani Total Gas surged marginally by 0.20% to Rs 663.75 per share. The Adani group stock that witnessed sharp surge today is Adani Green Energy.

Adani Green stock rallied by 4.65% in trade today and currently trading at Rs 1139.80 apiece.