Mumbai’s stock market kicked off Tuesday with a bang as Adani Group companies rode the wave of excitement following the India-US trade deal announcement. Adani Enterprises Limited (AEL) led the charge, its shares rocketing nearly 10% to hover near the upper circuit limit in early trading.
The bullish sentiment rippled across the group, with Adani Green and Adani Energy stocks climbing over 7%. Adani Ports, Adani Power, Ambuja Cements, and Adani Total also posted gains exceeding 4%, reflecting strong investor confidence.
Brokerage firm Jefferies highlighted Adani Group as a prime beneficiary of the deal, citing its extensive business ties with the US. This pact is set to slash tariffs on ‘Made in India’ products to 18%, a move experts view as a game-changer for bilateral trade.
The deal promises windfalls for sectors like auto parts, solar manufacturing, chemicals, and textiles, where Adani has significant exposure. Investors are betting big on the group’s diversified portfolio to capitalize on these opportunities.
Adding to the positive news, Japan’s JCRA rating agency initiated coverage on three Adani firms: Adani Ports and SEZ (A(A- Stable)), Adani Green Energy (BBB+ Stable), and Adani Energy Solutions (BBB+ Stable). Notably, Adani Ports’ rating surpasses India’s sovereign rating, a rare feat for an Indian corporate.
This dual boost from trade policy and international recognition signals robust growth prospects for Adani amid a favorable market environment. As trading progresses, all eyes remain on whether this momentum sustains through the session.