Adani Group Stocks Rally: Adani Power, Adani Ports and More Gain Up to 6% on March 10

Adani Group stocks surged on Monday, March 10, 2025, with some rising as much as 6% in intraday trading on the BSE.

Stock Performance

• Adani Power share price jumped 5.69% to ₹535.
• Adani Green share price climbed 3.94% to ₹870.70.
• Adani Ports share price increased 2.05% to ₹1,168.
• Adani Enterprises share price rose 1.8% to ₹2,287.40.
• Adani Wilmar share price gained 1.69% to ₹265.

Fitch Ratings Update

On Friday, Fitch Ratings reaffirmed Adani Energy Solutions Ltd (AESL) with a ‘BBB-’ rating for both foreign and local currency long-term issuer default ratings. The ratings, previously on negative watch, now carry a Negative Outlook.

Fitch also confirmed the ‘BBB-’ rating for AESL-backed bonds:

• 4.0% $500 million secured notes (due 2026)
• 4.25% $500 million secured notes (due 2036)

The rating affirmation signals Adani Group’s continued access to funding, despite concerns raised after US authorities indicted several Adani Green Energy (AGEL) board members in November 2024. However, Fitch remains cautious about potential corporate governance issues arising from US investigations.

Dharavi Redevelopment Case in Supreme Court

Last Friday, the Supreme Court (SC) sought responses from the Maharashtra government and Adani Properties regarding a legal challenge to the Dharavi slum redevelopment project.

UAE-based SecLink Technologies filed a plea against the Maharashtra government’s 2019 decision to cancel its bid and award the project to Adani in 2022. SecLink claimed it was willing to improve its ₹72,000 crore bid by 20%.

The SC did not halt construction, as Adani stated that over 2,000 workers were already engaged at the site and significant funds had been invested. The Court instructed SecLink to submit an affidavit reflecting its revised offer and set the next hearing for May 25.

Stock Movements at Midday

At 12:51 PM, Adani Group stocks showed mixed trends:

• Adani Power share price was up 2.40% at ₹518.30.
• Adani Green share price gained 0.64% at ₹843.05.
• Adani Ports share price rose 0.83% to ₹1,153.95.
• Adani Enterprises share price increased 0.89% to ₹2,266.85.
• Adani Wilmar share price slipped 1.38% to ₹257.15.

Conclusion

Adani Group stocks saw strong gains, backed by Fitch’s rating update and ongoing infrastructure projects. However, regulatory scrutiny remains a key concern.

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