Adani Power, ACC & Adani Ports: What William O'Neil's Mayuresh Joshi says on these 3 stocks

Mayuresh Joshi, Head of Equity Research at William O'Neil India, expects most Adani Group segments — spanning power, renewable energy and cement — to benefit positively over the medium to long term from government-led policies. "Renewable capacity is projected to reach 500 GW, largely a mix of solar, wind and hydroelectric, where Adani is expected to play a significant role," the market expert told Business Today on Friday.

Joshi further noted, "With growth in urban-rural affordable housing, infrastructure and ports, capital expenditure from the Centre will keep cement stocks in focus. So apart from Adani Ports, Adani Power could be worth watching. From the cement basket, ACC Ltd also holds potential."

Meanwhile, Adani Group shares advanced today after the Securities and Exchange Board of India (Sebi) dismissed allegations of stock manipulation raised by US-based short-seller Hindenburg Research against Gautam Adani and group companies, including Adani Ports and Adani Power.

Hindenburg had claimed that Adicorp Enterprises Pvt Ltd was used to route funds from Adani firms to publicly listed Adani Power. As per the report, four Adani companies extended Rs 620 crore ($87.4 million) in 2020 to Adicorp, which then lent Rs 610 crore ($86 million) to Adani Power on an unsecured basis, without reflecting it in the financials of several listed lenders.

The Sebi order covered Adani Ports & SEZ, Adani Power, Adicorp Enterprises, Gautam Shantilal Adani and Rajesh Shantilal Adani. After examining the matter, the regulator said it would "dispose of the instant proceedings against Noticees without any direction."

Sebi clarified that a detailed probe found the deals did not amount to "related-party transactions" and no violation of the Listing Agreement or LODR norms was observed.