Market analysts expect the positive investor sentiment to continue for a few more sessions.Apart from the buying, huge bullish positions were built up on the futures counters of Adani Enterprises and Adani Ports
Shares of Adani Total Gas were the top gainer in the pack and up about 20%, followed by a 10-17% upside in Adani Energy Solutions, Adani Green, Adani Power, NDTV, and Adani Enterprises. Shares of Adani Power not only erased all Hindenburg-era losses but also rallied up to 17% today to hit a fresh record high of Rs 464.30. So far in 2023, the stock has given about 50% return to investors.
While shares and bonds of some Adani companies have since recovered, particularly after the ports-to-power group received investments from GQG Partners, Adani Total Gas remains the hardest hit. The latest headwind for the company is the policy announced by New Delhis state government seeking mandatory conversion of all commercial vehicles to EVs by 2030. Its shares have lost about 6% this month.