Adani Group’s Resilience Amid Political Scrutiny Spurs Market Surge

The market capitalisation of Gautam Adani's conglomerate surged by over Rs 39,000 crore, reaching a valuation of Rs 15.5 lakh crore despite political scrutiny from the Congress party. With nine out of ten listed companies gaining value, the group's resilience against negative political narratives showcases its strong performance and growth.

This week, the market capitalisation of the Adani Group, led by billionaire Gautam Adani, experienced a significant surge, growing by more than Rs 39,000 crore to approximately Rs 15.5 lakh crore. This increase occurred despite renewed criticisms from the opposition Congress party.

Outperforming other firms, Adani Enterprises Ltd added Rs 23,268 crore in value. Among nine of the ten group companies whose market cap increased, Adani Ports & SEZ gained Rs 9,440 crore, while Adani Power Ltd was the sole company to see a decline. Other gaining entities included Adani Green Energy Ltd, Adani Wilmar Ltd, and cement majors ACC and Ambuja Cement.

Parallelly, Congress intensified attacks through videos featuring prominent leaders leveling allegations against the Adani Group. Despite these political challenges, Adani Group's stocks continue to thrive, supported by robust financial outcomes and market confidence, evading longstanding negative projections.

(With inputs from agencies.)