India-Pakistan Halt Hostilities: Adani Group Stocks Rally Up To 8 Per Cent Amid Broad-Based Buying

Adani Group Stocks: Shares of Adani group companies were upbeat on May 12 amid a broad-based buying seen on D-Street after cross-border tension-ridden India and Pakistan reached a ceasefire agreement on May 10. All the 11 group stocks ended the day in the green territory.

Among the Adani group stocks, Adani Energy Solutions led the rally with 8.33 per cent gains, followed by Adani Enterprises, which surged 7.73 per cent, and Adani Green, which rose 6.84 per cent during the session. Adani Power ended the session with 6.76 per cent gains, Adani Total Gas closed 4.98 per cent higher, Adani Ports rose 4.23 per cent, and Adani Wilmar climbed 4.12 per cent.

Other Adani group stocks – Sanghi Industries surged 3.73 per cent, NDTV rose 3.6 per cent, Ambuja Cements climbed 2.69 per cent, and ACC rallied 2.61 per cent,

Meanwhile, the Sensex skyrocketed 2,975.43 points, or 3.74 per cent to end the day at 82,429.90. Similarly, Nifty 50 zoomed 916.70 points or 3.82 per cent to close the session at 24,924.70. The rally was even sharper in the broader market as both the Nifty Midcap 100 and Nifty Smallcap 100 jumped over 4 per cent each.

Adani Power Share Price Rallies On Winning 1500 MW Contract

The rally in Adani Power shares came after the company announced that it had secured a letter of award from Uttar Pradesh Power Corporation (UPPCL) to supply 1,500 MW of electricity for 25 years from a proposed 1,600 MW (2x800 MW) thermal power plant to be set up in Uttar Pradesh. The project was awarded through a competitive bidding process, the company said.

“We plan to set up a modern and low-emission Ultra-supercritical plant in UP and aim to begin supplying reliable and high-quality power by FY30,” said SB Khyalia, CEO of Adani Power in a press release.

According to the company, thermal power demand in Uttar Pradesh is projected to grow by around 11,000 MW by 2033-34, driven by increasing industrialisation, urbanisation, and infrastructure development. The new 1,500 MW contract is part of the government’s broader effort to meet this rising demand.

Adani-Trump Administration Meet Effect

Earlier on May 5, Adani group stocks saw a sharp spike after reports surfaced that a team of Adani group met with officials from the US President Donald Trump’s administration to discuss dismissing criminal charges against the group’s founder and chairman Gautam Adani in a bribery case.

In November 2024, US authorities charged Gautam Adani, his nephew Sagar, and six others, accusing them of paying $265 million in bribes to Indian officials between 2020 and 2024 to secure power contracts and misleading US investors during a $750 million bond issue for Adani Green Energy.

This development sparked a sense of cheer among the Adani group shareholders. However, this rally was short-lived. Between May 6 and May 9, the group’s shares went on a slippery slope after India-Pakistan tensions began arising, erasing all the previous gains made during the May 5 rally. However, today’s rally brought the group’s shares back to their week-ago levels.