Adani group stocks in demand

Shares of three Adani group companies gained 3.86% to 15.73% at 12:39 IST on BSE on renewed buying.

Meanwhile, the S&P BSE Sensex was up 56.25 points or 0.25% at 22,758.59

Adani Enterprises galloped 15.73% to Rs 441.90 after scaling a 52-week high of Rs 446.90 in intraday trade.

Adani Power gained 3.86% to Rs 57.90.

Adani Ports & Special Economic Zone jumped 7.67% to Rs 197.30 after hitting a 52-week high of Rs 204.20 in intraday trade.

Adani Enterprises had outperformed the market over the past one month till 9 April 2014, rising 26.52% compared with the Sensex's 3.57% rise. The scrip also outperformed the market in past one quarter, gaining 55.86% as against Sensex's 9.6% rise.

Adani Power had outperformed the market over the past one month till 9 April 2014, rising 40.96% compared with the Sensex's 3.57% rise. The scrip also outperformed the market in past one quarter, gaining 55.94% as against Sensex's 9.6% rise.

Adani Ports & Special Economic Zone had underperformed the market over the past one month till 9 April 2014, falling 1.95% compared with the Sensex's 3.57% rise. The scrip, however, outperformed the market in past one quarter, gaining 22.49% as against Sensex's 9.6% rise.

Shares of three Adani group firms gained on renewed buying. The Adani group is known for its proximity to Gujarat Chief Minister and Bharatiya Janata Party's (BJP) prime ministerial candidate Narendra Modi. Investors are betting that the BJP-led National Democratic Alliance (NDA) will be able to form the next government at the centre with support from some regional parties after Lok Sabha elections which conclude in mid-May this year.

Powered by Capital Market - Live News