Adani Enterprises, Adani Green shares hit 52-week highs; Adani Power surges: What's fuelling the sharp rally in Adani Group stocks?

Shares of select Adani Group companies extended their upward momentum on Thursday, with Adani Enterprises Ltd and Adani Green Energy Ltd scaling fresh one-year highs.

The Gautam Adani-led conglomerate's flagship entity, Adani Enterprises, climbed to a one-year high of Rs 2,719.55, while Adani Green Energy touched Rs 1,424.10. Adani Power Ltd also surged during the session to hit an intraday high of Rs 225.60.

Market experts attributed the rally to the group's expansion into future-focused businesses, resilient March quarter earnings, optimism around its long-term growth plans and a large block deal in Adani Enterprises.

Kranthi Bathini, Equity Strategist at WealthMills Securities, said Adani Group is investing in future growth opportunities, particularly in data centres and AI-related prospects.

He noted that the flagship entity of the conglomerate -- Adani Enterprises -- has historically acted as an incubating company, nurturing several infrastructure and emerging businesses over a long period. According to Bathini, once these incubated businesses reach maturity, the group could look at unlocking value from them in the future.

He also mentioned that the Adani Group, as a whole, has posted largely resilient results for the March quarter, further supporting buying interest in the stocks. However, Bathini cautioned that Adani Group stocks remain volatile given their past track record and are suitable only for investors with a high-risk appetite.

"With that being said, existing investors can continue to hold these stocks, while fresh entrants may consider accumulating on dips with a medium- to long-term investment horizon," he further said.

Ravi Singh, Chief Research Officer at Mastertrust, said Adani Enterprises gained momentum after a large block deal in early trade, where around 58.92 lakh shares worth nearly Rs 1,435 crore changed hands at Rs 2,435.6 apiece.

He noted that the stock remained firmly in the green, aided by strong investor interest following the block transaction. Singh added that the positive trajectory in Adani group stocks was also supported by progress in the resolution process linked to Jaiprakash Associates Ltd.

"As India accelerates its push towards self-sustaining energy infrastructure, the overall outlook on the Adani Group remains positive," he said.

Singh further highlighted that the company is considering a proposal to raise up to Rs 15,000 crore through equity issuance, which will be taken up at its AGM on June 24, 2026. According to him, a successful fundraise would further strengthen the group's expansion plans and capital position.

Meanwhile, Adani Power shares also advanced following a report related to the Competition Commission of India's (CCI's) approval in the GVK Energy acquisition process.

Clarifying the development, the company said, "GVK Energy Ltd was admitted into the Corporate Insolvency Resolution Process (CIRP) on May 6, 2025, after lenders filed a Section 7 application under the IBC due to defaults. A detailed invitation for Expression of Interest (EOI) was subsequently published on July 10, 2025, as part of the CIRP process. The company, along with several other bidders, submitted resolution plans in response to the EOI. However, these plans are still under consideration and have neither been voted on nor approved by the Committee of Creditors (CoC)," Adani Power said.

The company further stated, "As per the prevailing law, approval from the Competition Commission of India (CCI) was required before the CoC could consider the bidders' resolution plans. Accordingly, an application was filed with the CCI and has now been approved. As mentioned in point 3 of the CCI approval, 'The order of the Commission in this regard will follow'."