Key Points
Adani Group stocks have gained sharply in recent weeks due to a series of positive developments that have revitalised investor confidence in the group's shares..
All 10 listed Adani Group stocks posted double-digit gains last week, with Adani Total Gas surging by as much as 65%..
This upswing is attributed to the positive outlook on the BJP government's potential return to power in 2024, following the party's success in three key state elections, which has bolstered investor sentiment..
Moreover, a Bloomberg News report on Tuesday (December 05) said that the US government had examined Hindenburgs allegations against the Adani Group and found them irrelevant before granting the conglomerate a $553 million loan for its Sri Lanka port terminal project..
In the last week (December 0408), the market capitalisation of Adani Green Energy, the renewable energy arm of the Adani Group, jumped by 83,000 crore, reaching 2,45,520 crore as the stock skyrocketed 51%, jumping in value from 1,160 to 1,550 apiece..
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