Incumbency wave in India, Australia boosts stocks of Adani group

Shares in various Adani Group companies, including those of flagship Adani Enterprises Ltd, surged on Monday after exit polls predicted Indian Prime Minister Narendra Modi would return to power, even as Australian poll results also spelled good news for the Indian conglomerate. Adani Enterprises rose as much as 29 per cent in afternoon trade, its sharpest intraday gain in over two years.

Other Adani Group stocks such as Adani Power, Adani Gas and Adani Green Energy Ltd were all up more than 15 per cent in afternoon trading. The rally.

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