Adani Group stocks on a roll

Adani Enterprises surged 9% to Rs 416, while Adani Ports and SEZ up 8% to Rs 198 and Adani Power by 5% to Rs 59 on the BSE.

Shares of Adani Group companies such as Adani Enterprises, Adani Ports and Special Economic Zone (SEZ) and Adani Power are on a roll, trading higher by up to 9% on the Bombay Stock Exchange (BSE).

Among individual stocks, Adani Enterprises has surged 9% to Rs 416, while Adani Ports and SEZ has zoomed by 8% to Rs 198 and Adani Power has added 5% to Rs 58.50 on the BSE.

Most of these stocks are trading at their multi-year highs and outperformed the market after the Bharatiya Janata Party (BJP) declared Narendra Modi as the party's prime ministerial candidate.

The total market capitalisation of the three listed Adani group companies — Adani Enterprises, Adani Port and SEZ Ltd and Adani Power — has risen by 91% to Rs 103,082 crore from Rs 54,032 crore as on September 13, 2013. In comparison, the Sensex grew by just 15.15% during the period.

Meanwhile, on April 3, 2014, Adani Power, a subsidiary of Adani Enterprises and part of the Adani Group, a global integrated infrastructure player, announced the commissioning of the fourth unit of 660 megawatts (MW) at its power plant at Tiroda in Maharashtra, thus emerging as the largest private power producer in India with an overall installed capacity of 8,620 MW.