December 20, 2012 / 7:43 AM / in 5 years

MARKET EYE-Adani group stocks down on profit-taking

* 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 India's Gujarat
state. 
* 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 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 is down 2.8 percent, after rising
11.6 percent in December as of Wednesday's close.
* Adani Power Ltd falls 3.9 percent after gaining 29.2
percent this month.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)

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