Adani Group shares rally up to 17% as exit polls predict NDA's return

Adani Enterprises, Adani Green Energy, Adani Gas and Adani Power were up 10 to 17 per cent on the BSE in intra-day trade.

Shares of Adani Group companies surged up to 17 per cent intra-day on the BSE on Monday supported by heavy buy volumes after exit polls predicted the Bharatiya Janta Party (BJP)-led National Democratic Alliance (NDA) to form government on May 23.

Opinion polls on Sunday gave clear victory to the incumbent government with Prime Minister Narendra Modi set for another term.

Among individual stocks, Adani Green Energy soared 17 per cent to Rs 43.70 apiece, while Adani Gas surged 16 per cent to Rs 135 apiece on the BSE in intra-day trade.

Adani Power, too, gained 14 per cent to Rs 46.40 per share, followed by Adani Transmission (up 9 per cent to Rs 224) and Adani Ports and Special Economic Zone (up 8 per cent at Rs 395) on the BSE. In comparison, the S&P BSE Sensex was up 2.44 per cent or 925 points at 38,856 levels.

Adani Enterprises has rallied 15 per cent to Rs 137 per share on the BSE so far in the day, with two-fold jump in trading volumes. A combined 9.68 million shares changed hands on the counter on the BSE and NSE till 10:25 am.

Most of the exit polls said the BJP would either repeat its 2014 performance of achieving a simple majority on its own, or at worst, along with its NDA allies. They also predicted that the party might not need to look beyond its current allies to achieve the majority mark of 271 seats. CLICK HERE TO READ FULL REPORT