Adani Grp stocks rally: Power, Ports, Enterprises jump up to 6% on March 10

Adani Group stocks: Adani Group stocks were buzzing in trade on Monday, March 10, 2025, as these scrip rallied up to 6 per cent in intraday deals on BSE. 

 

Adani Power shares zoomed as much as 5.69 per cent to Rs 535, followed by Adani Green shares, up 3.94 per cent to Rs 870.70, Adani Ports shares up 2.05 per cent to Rs 1,168, Adani Enterprises stocks soared as much as 1.8 per cent to Rs 2,287.40, and Adani Wilmar up 1.69 per cent to Rs 265.

 

On Friday, Fitch Ratings affirmed Adani Energy Solutions Limited's (AESL) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-'. 

 

The ratings were removed from Rating Watch Negative and assigned a Negative Outlook. 

 

Fitch also confirmed the 'BBB-' rating for the AESL-guaranteed 4.0 per cent USD500 million senior secured notes due 2026 and the 4.25 per cent USD500 million senior secured notes due 2036. These notes were issued by AESL's subsidiary, Adani Transmission Step-One Limited.

 

Fitch's affirmation reflects that the Adani group has shown adequate access to funding following the US indictment of several board members from another group entity, Adani Green Energy Limited (AGEL), on November 20, 2024. This has helped mitigate concerns about liquidity and funding. 

 

However, the Negative Outlook remains in place as Fitch remains cautious about the potential impact of the ongoing US investigations. These could reveal weaknesses in the group's corporate governance practices, leading to potential negative rating actions in the near to medium term. Fitch will continue to monitor the investigations and assess any implications for AESL's financial flexibility.  ALSO READ: Stocks to Buy: 24% upside likely in these 5 shares with mcap below Rs 20 cr

 

In a separate development, last Friday, the Supreme Court (SC) sought responses from the Maharashtra government and Adani Properties in connection with a plea challenging the award of the Dharavi slums redevelopment project to Adani. The SC, however, refused to halt work at the project site, as the Adani Group stated that construction had already commenced, with over 2,000 workers involved. Adani also reported having invested major funds and procured construction equipment worth crores of rupees, along with initiating the demolition of railway quarters on the site.

 

The plea was filed by UAE-based SecLink Technologies, which challenged the Maharashtra government's decision to cancel its 2019 bid for the redevelopment of Dharavi slums and award the project to Adani in 2022. SecLink had proposed to improve its bid of ₹72,000 crore by 20%. The SC Bench, comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar, instructed SecLink to submit an affidavit reflecting this offer and scheduled a hearing for May 25. The Court also stated that the project awarded to the Adani Group remains "subject to court orders." READ MORE

 

At 12:51 PM, Adani Power was trading 2.40 per cent higher at Rs 518.30, Adani Green was trading 0.64 per cent higher at Rs 843.05, Adani Ports were up 0.83 per cent at Rs 1,153.95, and Adani Enterprises was up 0.89 per cent at Rs 2,266.85. Adani Wilmar, meanwhile, slipped into the negative zone, down 1.38 per cent at Rs 257.15.