India: Adani Group’s total market capitalisation surpassed the Rs.11 trillion mark on Friday, underpinned by consistent value buying from both domestic and international investors.
The conglomerate, with interests ranging from ports to power, added Rs.7,039 crore to its market cap on Friday, bringing the total market value of its 10 listed companies to Rs.11.02 trillion, up from Rs.10.96 trillion on Thursday.
Adani Group stocks have recovered significantly from their post Hindenburg lows adding nearly Rs.5 trillion in market cap since early March 2023.
Analysts attribute the stock’s climb to continued buying interest in the face of the group’s strategic focus, initiatives on fundraising, and continued execution on development in its infrastructure and power businesses amid rising demand for energy.
“Investors are recognizing the value in Adani’s diversified business model, particularly as the group doubles down on fundraising efforts and project execution. Power is expected to be a major theme in the coming years as India’s demand for energy increases significantly on the back of strong domestic economic growth. We expect this trend to translate into bullish sentiment over the coming months for Adani Group stocks,” said an analyst at a major domestic brokerage.
