Adani Enterprises, Adani Green, Adani Ports, other group stocks rally up to 13%; here's why

Shares of Adani Group companies witnessed strong positive momentum in Wednesday's trade. Flagship firm Adani Enterprises Ltd was last seen up 8.54 per cent. Adani Green Energy Ltd surged 13.14 per cent, while Adani Energy Solutions Ltd advanced 7.82 per cent. Adani Ports and Special Economic Zone Ltd climbed 5.51 per cent and Adani Total Gas Ltd rose around 7 per cent.

Among other group companies, Adani Power Ltd gained 3.03 per cent and AWL Agri Business Ltd edged 0.50 per cent higher. Ambuja Cements Ltd, ACC Ltd, New Delhi Television Ltd (NDTV) and Orient Cement Ltd rose in the range of 5–9 per cent.

The rally followed a development in the United States, where a court accepted a plea filed by billionaire Gautam Adani and his nephew Sagar Adani seeking to dismiss a securities fraud case brought by the US Securities and Exchange Commission (SEC).

"The court GRANTS that request and DIRECTS the parties to confer and to contact the court's deputy to schedule the pre-motion conference," the order dated April 7 stated.

In their petition, the Adanis argued that the case involves an impermissible extraterritorial application of US law and that the court lacks personal jurisdiction over the defendants.

The SEC had filed the lawsuit in November 2024, alleging that Gautam Adani and Sagar Adani misled investors by failing to disclose an alleged bribery scheme involving Indian state officials in relation to a 2021 bond issuance by Adani Green Energy Ltd (AGEL). The Adanis have denied the allegations and challenged the legal basis of the SEC's claims.

Kranthi Bathini, Equity Strategist at WealthMills Securities, said, "The US court accepting the plea filed by Adanis seeking a pre-motion dismissal in the SEC case has provided positive sentiment for Adani Group stocks. That said, these counters are largely high-beta in nature. From a short- to medium-term perspective, Adani Enterprises and Adani Ports offer relatively better value. Adani Energy Solutions (formerly Adani Transmission) is also a stock investors can keep on their radar, keeping in mind the high-beta characteristics."

Ravi Singh, Chief Research Officer at Mastertrust, said, "Adani stocks continue to trade in a highly volatile phase, where price action is largely driven by news flow and overall market sentiment. The recent bounce across the group has been supported by easing regulatory concerns and improving investor confidence following positive developments on the legal and compliance front. This has helped revive short-term optimism and triggered a sharp recovery in several stocks. However, the broader picture is still evolving. While the group remains well-positioned in sectors such as infrastructure, energy transition and logistics, keeping the long-term growth story intact, markets remain cautious due to governance concerns and ongoing scrutiny. This results in a push-and-pull effect on valuations."

He added, "From a trading perspective, these stocks remain momentum-driven and react quickly to both positive and negative triggers. Within the group, Adani Power has shown strong momentum, but after the recent rally, chasing the stock at current levels may not offer a favourable risk-reward. A more prudent strategy would be to wait for dips. Adani Enterprises, on the other hand, presents a broader long-term opportunity, but given the volatility, staggered accumulation may be a more balanced approach rather than aggressive buying."