Stocks of Adani Group companies saw a significant rise in early trading following the India-US trade deal announcement. Adani Enterprises Ltd (AEL) led the surge, nearing a 10% upper circuit. Adani Green, Adani Energy, Adani Ports, Adani Power, Ambuja Cements, and Adani Total also experienced gains, with increases of over 4-7%.
Investor sentiment in Adani Group companies received a boost from the US-India trade deal, with Jefferies identifying the conglomerate as a major beneficiary. Jefferies highlighted the significant exposure of Adani Group companies to the US market. The trade deal is expected to benefit sectors like auto ancillaries, solar manufacturers, chemical companies, and textiles.
The United States has agreed to lower tariffs on all ‘made in India’ products to 18%, a move that is set to enhance bilateral trade relations between the two countries. Additionally, Japan Credit Rating Agency (JCRA) has assigned long-term foreign currency credit ratings with a ‘Stable’ outlook to Adani Ports and SEZ (APSEZ), Adani Green Energy Ltd. (AGEL), and Adani Energy Solutions Ltd. (AESL).
