Adani Stocks Skyrocket On Exit Polls And Portfolio Performance

The stocks of Adani conglomerate skyrocketed in the Monday trading session along with broader markets on account of exit polls optimism and portfolio performance. 

In the Nifty 50, Adani Ports topped the index with more than 10 per cent gains, while Adani Enterprises surged 7 per cent. Nifty 50 on the other hand, traded 3.10 per cent higher at 23,228 levels

Among all the Adani stocks, Adani Power soared more than 15 per cent to Rs 872 followed by more than 8 per cent gain in Adani Energy and Solutions. Adani Total Gas, Adani Green and Adani Wilmar gained 7.62 per cent, 5.7 per cent and 3.64 per cent respectively. 

Ambuja Cements also gained 5.65 per cent, while NDTV traded 4.68 per cent higher. 

Portfolio Performance

In the recently concluded financial year 2023-24, the Adani Group of companies performed its best, delivering a record overall EBITDA growth of 45 per cent.

"Sustained growth in EBITDA is due to a high contribution of the core infra and utility platform, which offers a high level of predictability, stability, and visibility," the conglomerate said on Sunday.

The core infra and utility platform generated Rs 69,337 crore or 84 per cent of the total earnings before interest, taxes, depreciation, and amortisation EBITDA. 

With strong cash flows and enhanced credit profiles, the Adani Portfolio is seemingly in a 'stronger than ever' position to accelerate the growth momentum.

Coming to its debt mix, domestic banking exposure stands at 36 per cent and domestic capital markets at 5 per cent whereas 26 per cent is the exposure to the global banking market; the global capital market is at 29 per cent and the balance 4 per cent is with ‘others’.

Stocks Performance

In 2024 so far the highest year-to-date returns (YTD) is attributed to Adani Ports which has delivered 66 per cent returns followed by 55 per cent returns by Adani Ports. 

Adani Enterprises and Adani Green delivered 27 per cent and 26 per cent returns respectively. Adani Energy Solutions surged 17.5 per cent, while Adani Total Gas surged 12.5 per cent.

However, few of the Adani stocks performance remained muted with Ambuja Cement delivering 5.5 per cent YTD returns and Adani Wilmar rising only 4 per cent. 

Conversely, YTD return of Adani-owned media house NDTV remained negative.