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)
- Tweet this
- Share this
- Digg this
- Russia can run on empty for a year if sanctions block new bonds
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Actress Jennifer Lawrence contacts authorities after nude photos hacked
- Nasty, brutish and artsy? Neanderthal hashtag engraving found
- Mumbai hit by big power cuts after technical glitch at Tata Power unit
The BSE Sensex on Tuesday breached the psychologically key level of 27,000 points for the first time to hit its third consecutive record high as blue-chips such as HDFC Bank gained after recent data raises hopes about the economy. Full Article