Adani's survive beating at the bourses on realty deal

Once again the real estate segment helped Adani Exports to escape the fall in its share prices and has infact rode against the tide into the positive territory when Sensex was in a negative mood on yet another black day on Wednesday.

Few experts believe that the Adani's land deal in Mumbai helped Adani Exports to shoot up despite a global downfall in indices.

With extremely negative mood Sensex was closed at red colour with at 417.15 points with fall of 3.87 per cent. Among BSE 200 stocks, from Gujarat - Adani Exports was up by five per cent. In the Midcap index once again Adani Exports has recorded sharp gains.

The Sensex in the month of May has witnessed the all time highest fall and simultaneously the stock of Adani Exports shot up by more than 100 points.

"This is a genuine rise in which stocks of many properties industries were in green. But in the case of Adani Exports, the stock was up only due to their real estate deal in Mumbai," said Jagdish Thakkar, leading broker from Vadodara.

As per reports, Adani Group has finalised India's largest land deal with Housing Development and Infrastructure for Rs 2,250 crore to develop a commercial and retail hub in Mumbai's landmark commercial business district, the Bandra-Kurla Complex.

According to Thakkar, the companies holding tangible assets and developers setting up SEZ, their circuit will surely move up.

"Not only on Wednesday but it is expected that the stock of Adani Exports will rise further," he said.

"Though we dont keep the track of Adani Exports but we believe that due to company's big time real estate deal the stock was up by five per cent while globally the indexes fell down," said Rajen Shah, chief investment officer, Angel Broking.

Similarly, V K Sharma, director of Anagram said, "Adani Exports stock was up due to real estate and reogranisation of their business."

Recenlty the company reorganised their businesses which is helping them to move up.