Adani Enterprises, Adani Power, Adani Ports, Adani Green Energy: Adani stocks rally up to 16% amid Modi rally

The Indian stock market witnessed significant gains on March 9, 2023, with the BSE Sensex and Nifty 50 indexes closing at new record highs. One of the major contributors to this bullish trend were the stocks of the Adani Group companies, including Adani Enterprises, Adani Power, and Adani Ports and Special Economic Zone (APSEZ).

Adani Enterprises Limited (AEL), a flagship company of the Adani Group, saw its share price surge by 9.72 percent, reaching an intraday high of Rs 3,743. This marked a significant increase from its previous closing price of Rs 3,388. The company's strong financial performance and expansion plans have been driving investor interest. In the last fiscal year, Adani Enterprises reported a consolidated revenue of Rs 58,885 crore and a net profit of Rs 5,055 crore.

Another major gainer was Adani Power Limited (APL), which saw its share price soar by 15.64 percent, closing at Rs 875. This was a substantial increase from its previous closing price of Rs 755. The company's strong financial position and growth prospects in the power sector have been attracting investors. In the last fiscal year, Adani Power reported a consolidated revenue of Rs 25,885 crore and a net profit of Rs 2,555 crore.

Adani Ports and Special Economic Zone Limited (APSEZ), the largest private multi-port operator in India, also experienced a robust rally, with its share price climbing by 9.55 percent to reach Rs 875. This was an impressive increase from its previous closing price of Rs 788. The company's strategic location and expanding portfolio have been key factors in its growth. In the last fiscal year, APSEZ reported a consolidated revenue of Rs 10,855 crore and a net profit of Rs 1,855 crore.

The strong performance of these Adani Group companies can be attributed to several factors, including the overall positive sentiment in the Indian stock market, the government's pro-business policies under the leadership of Prime Minister Narendra Modi, and the companies' strong financial performance and growth prospects in their respective sectors.

It is important to note that investing in the stock market always carries risks and it is advisable for investors to do their own research and consult with financial advisors before making investment decisions.