The Adani Company shares are often hit by international tremors. Even last week, the hares of Adani Energy Solutions crashed 20% while those of Adani Green Energy slumped 19%. The Adani Ports and Special Economic Zone were down 15%, Adani Power 14%, Adani Total Gas 15%, Adani Wilmar 10%, Adani Cements plunged 12% and ACC 10%.
This bloodbath was in view of US Department of Justice finding Adani Group breached Foreign Corrupt Practices Act while investing in Andhra Pradesh during YCP tenure.
However, luckily for the Adani Group, the NDA win in the Maharashtra elections came as a mega problem-solver as their shares started to recover on Monday morning.
In view of the massive NDA win in Maharashtra, the stock markets opened with huge profits and so did Adani shares. The Adani Enterprises share recovered by 67 Rs (3%) as we type this and all related shares of the company are on the raise.
The favorable result in Maharashtra for the ruling NDA government at the center propelled a positive upswing for the market right at the start and the positive effects are being seen across the trading circuit now.