Adani Group Soars 19%, Anticipating Stable Government Post BJP's State Wins

5 Dec 2023 , 01:40 PM

Adani Group stocks extend gains for the second consecutive day, surging up to 19%, fueled by heavy volumes post BJP’s state election victories. Over the past two trading days, Adani Group shares have soared by 31%, driven by anticipation of a stable government in India after the 2024 general election.

Adani Green Energy, in particular, experiences a 19% surge to Rs 1341.60 in intra-day trade, with trading volumes tripling. Ambuja Cements completes the acquisition of Sanghi Industries, funded entirely through internal accruals, aiming to leverage operational synergies for enhanced efficiency and cost reduction.

The market gains momentum with the BJP’s election success, robust macroeconomic data, and easing global interest rate expectations.

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