Adani Back From Blues Following BJP's Victory, Supreme Court Order; Market Capitalisation Crosses Rs 12 Lakh Crore

Adani Group shares are experiencing a rise of 3 per cent to 10 per cent in Monday's (4 December) trading session, coinciding with a record high for Indian equities following the Bharatiya Janta Party's triumph in elections across three states, exceeding the predictions of exit polls.

Analysts universally agree that the election results have strengthened the collective prediction of the BJP retaining power in 2024, and this will likely enhance market confidence.

The total market capitalisation of the group has surpassed Rs 12 lakh crore today, marking the first time it has done so since dropping below this threshold on 31 January of this year. This drop was a week after the publication of the Hindenburg Report.

The Market capitalization of the Group has rebounded over 90 per cent from its record low of Rs 6.8 lakh crore, yet it still lags 50 per cent behind its record high of Rs 24.8 lakh crore.

During the previous week, stocks of the Adani Group saw their most successful day since the disclosure of the report, following the Supreme Court, under the leadership of the Chief Justice of India, DY Chandrachud, withholding its decision in the Adani-Hindenburg case. The highest court noted that the capital market regulator, SEBI, must conclude its investigation into all 24 cases.

Mayuresh Joshi from William O'Neil expressed his positive outlook on the ACC-Ambuja twins. He believes that the cement pack has great potential to perform exceptionally well in the coming years. He further mentioned that based on their recent performance, it is anticipated that these businesses will soon start experiencing increased synergies and operational efficiencies.

"Another one to keep an eye on is certainly Adani Ports. We anticipate a significant amount of activity both in terms of container volumes and the expected contributions to the intrinsic value of Adani Ports. Therefore, although we are not currently purchasing, these two stocks undeniably continue to be on our radar," he stated.