Adani shares gain 2-6% as traders mount fresh bets
Adani group companies surged as traders bet on them amid easing BJP election uncertainty. Sensex and Nifty also gained in a market rally. Energy and commodity stocks influenced Adani shares' uptrend, supported by the infra boost from the current government. Adani, as India's largest player, is set to benefit across sectors like renewables, power, and transportation.
Mumbai: Shares of were among the top gainers on Tuesday as over BJP's prospects in the elections prompted to mount bets on them. Shares rose between 2% and 6%, while the Sensex and Nifty gained roughly 0.5%. , , and jumped over 5% each."We saw a in companies after the also gained during the day, as there are growing assertions that the current will get a strong majority," said Apurva Sheth, head of research at . "The conglomerate, operating in various sectors, is expected to benefit."
On Monday, the rebounded from lows after Union home minister Amit Shah emphasised that the ruling party and its allies will get over 400 seats.
Sheth said the rally in energy and commodity stocks could have also rubbed off on on Tuesday. index hgained over 1.6% on Tuesday.
"The (Adani) stocks have been seeing a rally as the continuation of the current government will give a boost to the infra, and Adani being the largest player is set to benefit," said Deven Choksey, managing director of DRChoksey FinServ. "We think all Adani are a part of the infrastructure growth story of India, in all segments of renewables, conventional power, power transmission, road, railways, airports, ports and more."
Source: Stocks-Markets-Economic Times
