Adani Power Share Price: The key drivers for Adani Power’s share price remain the growth journey of the organisation, openings and broader trends in the energy market.
Adani Group stocks witnessed strong buying on Tuesday. Adani Power’s stock rose 19.29%, a big jump, recovering from the previous day’s decline.
Adani Green Energy’s stock jumped 14.54% on the BSE, Adani Energy Solutions gained 14.38%, Adani Total Gas climbed 13% and NDTV saw a jump of 12.50%. Along with this, Adani Enterprises’ stock rose 8.91%, Adani Ports gained 6% and Ambuja Cements gained 4.79%. Shares of ACC (4.50%), Sanghi Industries (4.22%) and Adani Wilmar (3%) also rose.
On Monday, all Adani Group stocks closed with a decline due to weak market.
On Tuesday, Sensex and Nifty saw recovery after four days of decline. The BSE Sensex rose 505.6 points to 76,835.61, while the NSE Nifty closed at 23,264.95, up 179 points.
Reason for surge in Adani Group shares:-
This surge was due to high volumes and positive sentiment in the market. The rise in banking, auto and energy sector stocks improved the market.
Apart from this, the announcement of a big investment of ₹ 65,000 crore by the Adani Group in the Chhattisgarh project also boosted the shares. The investment is aimed at increasing power generation capacity in the state and accelerating the development of cement plants.
Adani Group expansion in Chhattisgarh:-
The Adani Group plans to increase the number of power plants in cities like Raipur, Korba and Raigarh, which will increase power generation capacity in Chhattisgarh to 6,120 MW. The move is part of Adani Power’s strategy to increase its thermal power capacity from 15 GW to 30.67 GW by 2029-30.
Apart from this, Adani Group has committed to invest an additional ₹5,000 crore for the development and expansion of cement plants in the state.
Positive impact on the market:-
This announcement of Adani Group had a direct impact on the stock market. Adani Group shares were seen performing better than the broader market indices, due to which the Sensex also registered a jump.
