- Nifty surged 5% after India-US trade deal announcement benefiting Adani Group shares
- Adani Enterprises gained nearly 10%, with Adani Green and Energy up over 7%
- Other Adani firms like Ports, Power, and Ambuja rose more than 4% each
In a day where the Nifty has scaled as much as 5% on the back of India and the United States announcing a long-awaited trade, shares of Adani Group companies have emerged as the main beneficiaries in the stock market, with all the companies within the conglomerate trading in the green.
This comes on the back of Donald Trump's announcement last night, as he confirmed a trade deal that would see the US bring down tariffs on Indian imports from 50% to 18%, whereas New Delhi has committed to adding $500 billion of US imports, as well as reducing tariffs to zero.
The gains in the Adani conglomerate have been led by Adani Enterprises, which is trading near the upper circuit of 10%, while both Adani Green and Adani Energy are gaining with gains of more than 7%. The gains trickle down to counters such as Adani Ports, Adani Power, Ambuja Cements and Adani Total, all of which have surged more than 4%.
All Adani stocks up. (Photo: NDTV Profit)
The investor sentiment in Adani group companies has been aided by the US-India trade deal, with Jefferies highlighting the conglomerate as one of the key beneficiaries.
This is largely on account of the Adani Group companies' significant exposure to the US, adds Jefferies, which has also highlighted auto ancillaries, solar manufacturers, chemical companies and textiles as some of the other sectors likely to benefit from the trade deal.
Follow India-US trade deal live updates here.
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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