Adani Group Shares Continue Surge: Adani Green Energy Soars Over 7% in Second Consecutive Day of Gains

Mumbai: The Adani Group witnessed another day of impressive stock performance, with its shares rallying for the second consecutive day.

Following a sharp increase in the previous trading session, Adani Green Energy, one of the prominent players in the group, surged by over 7%, continuing the upward momentum observed this week.

Adani Green Energy and Adani Power Perform Strongly

In today’s trading session, Adani Green Energy’s stock climbed to ₹1,080 per share, marking a gain of 7.27%.

This surge is part of a broader rally in the group’s stocks, with Adani Power also seeing a notable rise, advancing to ₹571.90 per share with a gain of 6.50%.

By 1:00 p.m., both stocks were maintaining their upward trajectory, with Adani Green Energy continuing to rise by 3.76%, and Adani Power holding a 2.94% gain.

The rally in these stocks reflects strong market sentiment surrounding the Adani Group, which has seen a significant rise in investor confidence following a series of positive developments within its various subsidiaries.

Trading Volume and Market Indicators

Adani Green Energy saw its total traded volume for the day reach 7.1 times its 30-day average, signaling heightened investor interest and activity in the stock.

The Relative Strength Index (RSI) for Adani Green Energy stood at 47, suggesting the stock is in a healthy trading range. Meanwhile, Adani Power experienced an even higher trading volume, with 13 times its 30-day average, and its RSI stood at 57, indicating continued strength in the stock.

This marks a strong performance for Adani Group stocks, particularly this week, with Adani Green Energy’s shares climbing by nearly 16%, while Adani Power’s shares advanced by about 20% in just a few days.

Adani Green Energy’s Key Growth Catalyst

The surge in Adani Green Energy’s stock can be attributed to the company’s recent operational developments, particularly in the renewable energy sector.

The company’s subsidiary, Adani Renewable Energy Forty-Eight Limited, recently commissioned a 57.2 MW wind power unit at its Khavda project. This addition boosts the company’s total renewable energy generation capacity to an impressive 11,666 MW.

Also Read | Stock Market Ends Higher: Adani Enterprises Top Gainer in Nifty 50

Such developments underline Adani Green Energy’s commitment to expanding its renewable energy footprint and are likely to have contributed significantly to the positive market reaction.

Broader Adani Group Stock Performance

In addition to Adani Green Energy and Adani Power, other companies in the Adani Group also experienced notable gains.

Adani Energy Solutions saw an increase of 1.63%, while Adani Ports gained 0.60%. Adani Enterprises, another key player in the group, rose by 0.56%, and cement companies under the group, Ambuja Cements and ACC, saw increases of 1.31% and 0.5%, respectively.

This broad-based rally across Adani Group companies indicates strong market confidence in the conglomerate, which has been a focal point of investor interest in recent months.

Adani Group’s Impressive Performance on Tuesday

The surge in Adani Group stocks was not just limited to today’s session. On Tuesday, the stocks of several Adani companies also saw sharp increases.

Adani Power’s shares soared by an impressive 19.77%, while Adani Green Energy jumped by 13.22%. Other Adani Group companies like Adani Energy Solutions, Adani Enterprises, Adani Total Gas, and NDTV also recorded significant gains, with shares rising between 5% and 12%.

Adani Group’s Market Resurgence

The ongoing rally in Adani Group shares is part of a broader resurgence in the company’s market performance, driven by strong financials, strategic investments, and expansion in sectors like renewable energy and infrastructure.

With the company’s continued focus on scaling its renewable energy assets and expanding its presence in various industries, the group is positioning itself for sustained growth in the coming years.

Investors seem optimistic about the company’s future, especially as it continues to diversify and grow in sectors critical to India’s economic development, such as energy and infrastructure.