In a related development, the US District Court granted Adani’s request for a pre-motion conference in the matter. The SEC had charged Adani and his nephew, Sagar Adani, in November 2024, alleging they orchestrated a scheme to pay or promise hundreds of millions of dollars in bribes to Indian government officials to benefit Adani Green Energy, where both serve as executives and directors.
The sharp rally added around Rs 96,000 crore to the total market capitalisation of Adani Group companies during the session.
Adani Green Energy shares surged as much as 13% to hit an intraday high of Rs 1,046 on the BSE on Wednesday, while Adani Enterprises gained 11% to Rs 2,090, reflecting strong buying interest across the group.
The rally in Adani Green was further supported by a target price upgrade from global brokerage Macquarie, which maintained its outperform rating and raised the target to Rs 1,320. The revised target implies a potential upside of around 43% from current levels, adding to the positive sentiment around the stock.
Also read: IndiGo shares fly 11% as Iran war ceasefire, falling crude prices boost sentiment. What’s Jefferies saying ahead of Q4?
The brokerage cited a strong finish to FY26 with capacity additions of over 5 GW. Analysts have also increased their base-case capacity estimates for the company to over 40 GW by FY30E, up from 30 GW earlier. Despite this upward revision, Macquarie’s base case still implies a conservative growth trajectory, with EBITDA expected to grow at over 25% CAGR over the next five years. In its bull case, aligned with management guidance, the brokerage sees potential for a 40% CAGR, with faster-than-expected capacity ramp-up emerging as a key catalyst.
For Adani Ports, the ceasefire in Iran holds major significance as it owns and operates Haifa Port in northern Israel, the country’s largest port. The port manages a diverse mix of cargo, including containers, bulk, general cargo, liquids and vehicles, making it a key gateway for trade.
Last month, the company confirmed that the port assets and infrastructure were fully secure and in operational condition, amidst the rising conflict in the Middle East. The company acquired the Haifa Port for $1.13 billion in 2022.
Other Adani Group stocks, including Adani Energy Solutions, Adani Power, Adani Total Gas, ACC and Ambuja Cements, surged up to 8%, supported by a sharp rally in the broader market. The Nifty and Sensex rose around 4% each after U.S. President Donald Trump announced a two-week ceasefire with Iran, easing geopolitical tensions.
The ceasefire, which is contingent on the immediate and safe reopening of the Strait of Hormuz, a key route handling nearly one-fifth of global oil flows, also triggered a sharp decline in crude prices, further boosting investor sentiment across sectors.
Also read: IndiGo shares fly 11% as Iran war ceasefire, falling crude prices boost sentiment. What’s Jefferies saying ahead of Q4?
The shift in stance came just ahead of Trump’s deadline for Iran to reopen the Strait of Hormuz, a key route that carries 20% of the world’s oil supply, or face broad attacks on its civilian infrastructure.
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