Adani group stocks down; Modi seen winning in Gujarat
Reuters Market Eye - Adani Group stocks fall on profit-taking after gaining recently on expectations Narendra Modi would win a fourth successive term as the chief minister of Gujarat.
Adani Group is based in Gujarat and is seen benefiting given perceptions of Modi as a leader who is business-friendly, dealers say.
Adani Enterprises Ltd (ADEL.NS) falls 5.9 percent ahead of its planned sale of 23 million shares on Friday.
Among other Adani group stocks, Adani Ports and Special Economic Zone Ltd (APSE.NS) is down 2.8 percent, after rising 11.6 percent in December as of Wednesday's close.
Adani Power Ltd (ADAN.NS) falls 3.9 percent after gaining 29.2 percent this month.
(Reporting by Abhishek Vishnoi)
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Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article