Shares of 11-listed Adani Group entities saw a sharp uptick on Tuesday, in line with the overall rebound in domestic benchmarks that ended a four-session losing spree. Adani Power Ltd logged most of the surge, rising 19.77 per cent to close at Rs 539.15. It was followed by Adani Green Energy Ltd, which jumped 13.22 per cent to en at Rs 1,007.55.
Adani Energy Solutions Ltd (formerly known as Adani Transmission Ltd) gained 12.06 per cent after it shared the third quarter (Q3 FY25) business update. In Q3 FY25, the company said its transmission network expanded to 26,485 circuit kilometres (ckm), a 29.7 per cent increase as compared to 20,422 ckm a year ago. Its power transformation capacity grew to 84,286 MVA, up from 54,661 MVA year-on-year (Y-o-Y). Transmission availability stood at 99.21 per cent, slightly down from 99.69 per cent last year, while overall system availability was stable at 99.69 per cent.
During the quarter under review, the firm's collection efficiency stood at 102.57 per cent as compared to 101.29 per cent.
Adani Total Gas Ltd shares moved up 6.52 per cent to Rs 669.20. The group's flagship entity Adani Enterprises Ltd climbed 7.12 per cent to finish at Rs 2,382.15 level.
In addition, Adani Ports, ACC, Ambuja Cements and NDTV surged between 2 per cent and 6 per cent. Recently merged Sanghi Industries also gained 2.32 per cent.
Shares of Adani Wilmar Ltd, in which the group is looking to exit, also returned to positive territory and closed 1.71 per cent higher.
Anshul Jain, Head of Research at Lakshmishree Investment and Securities said, "Adani shares are rising due to speculative buzz on overseas fundraising expectations when Donald Trump resumes office."
That said, a market expert mentioned that Adani companies are high-beta counters, indicating higher volatility.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "There is a broad-based recovery in the market today, which somehow got reflected in Adani stocks. It requires to be mentioned here that these stocks are high-beta in nature."
Meanwhile, Indian equity benchmarks settled in the green, led by gains in state-owned lenders, financials and metal stocks.