Adani Group stocks rally on Mumbai International Airport stake buy buzz

According to report, the transaction under which Adani Group will acquire 50.5 per cent of GVK Group could be announced before next week

Shares of Adani Group companies rallied up to 9 per cent on the bourses on Monday on report that the group is set to acquire a 74 per cent stake in Mumbai International Airport (MIAL).

Among individual stocks, Adani Green Energy surged 9.35 per cent to Rs 411.90 on the BSE while Adani Enterprises gained 4.13 per cent at Rs 242.85. Besides, Adani Power, Adani Ports and Special Economic Zone, and Adani Gas rose in the range of 1-2 per cent. In comparison, the benchmark S&P BSE Sensex was trading half a per cent higher.

The MIAL operates the country’s second-largest airport.