Adani Enterprises soars 25%, hits 52-week high

Share in Adani Enterprises surged over 25 per cent on Thursday, while other Adani Group stocks also rallied sharply outperforming the broader markets.

Adani Enterprises shares closed 23 per cent higher at Rs 470.25, after earlier hitting a 52-week high of Rs 478.20. Adani Ports and SEZ shares ended 5.7 per cent higher at Rs 193.65 after earlier hitting their 52-week high of Rs 204.20. (Track stock)

Adani Power shares gained 1.35 per cent to Rs 56.50, after earlier rising close to their 52-week high of Rs 62.40. (Track stock)

In contrast, the Sensex and Nifty closed flat at 22,715 and 6,796 respectively.

Adani Group is based in Gujarat, where BJP's prime ministerial candidate Narendra Modi is current chief minister. Because of the location and perceptions of close ties between Adani and the BJP, shares of the Adani Group can at times move depending on the perceptions of electoral success for the party, analysts say.

Mr Modi's party is seen as a frontrunner in the nine-phase national election that ends on May 12.