Adani Power to Adani Ports shares: Why Adani group stocks are skyrocketing — explained

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Stock market today: Adani group shares have been in uptrend for last few trade sessions. Out of 10 Adani shares, Adani Power share price has ascended from ₹280 to ₹343 apiece levels in last four sessions, logging near 22.50 per cent rise in this time. Adani Ports share price has 776 apiece levels to ₹869 per share levels on NSE, logging around 12 per cent appreciation in last four sessions.

Adani Green share price has surged from near ₹933 to ₹1044 apiece levels in last three days, logging to the tune of 12 per cent rise in this time. Even today, seven out of ten Adani group shares are in green. The three stocks that are in red zone are down by less than half per cent down.

Adani Enterprises share price has also risen to the tune of 3 per cent during Tuesday deals. On why Adani group shares are skyrocketing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, 'Adani group shares are rising due to investment buzz in recent few sessions. We saw GQG partners buying over 5 per cent stake in Adani Power last week.

Today, Adani group shares are rising after promoters raising their stake by 2 per cent in flagship group company Adani Enterprises Ltd. The company has informed Indian bourses that its promoter group company Kempas Trade and Investment Ltd has bought additional stake in the company, which is to the tune of 2 per cent of its total paid up capital." However, Avinash Gorakshkar of Profitmart Securities maintained that rise in Adani shares are due to these short term sentiments and profit booking may trigger once these news fades out. Advising buy on dips strategy in Adani Enterprises shares, Sumeet Bagadia, Executive Director at Choice Broking said, "Adani Enterprises shares are in uptrend and it may go