Adani Group stocks trade mixed after sharp sell-off; Adani Green gains over 4%, Adani Energy falls 5%

On Tuesday the stocks of the Adani Group moved up and down following a sharp decline in the previous session which was due to the volatility caused by the realignment of the MSCI index. Although certain companies of the group had recovered from the losses suffered on Monday, others still faced pressure as investors kept evaluating the effect of the fund flows associated with the index.

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Adani Green Energy emerged as the top performer among the group's listed companies, rising more than 4% to an intraday high of ₹1,271.10. Adani Power also advanced, gaining about 3% to touch ₹204.60 during the session, according to Mint.

Adani Total Gas rose around 1.5% to ₹629.30, while Adani Ports & SEZ gained 1.2% to hit an intraday high of ₹1,655.20. ACC and Ambuja Cements also traded in positive territory, with both stocks rising roughly 1%.

Adani Energy Among Top Losers

Not all group companies participated in the rebound.

Adani Energy Solutions was the weakest performer among Adani stocks, falling 5% to an intraday low of ₹1,391.

Adani Enterprises, the group's flagship company, witnessed sharp intraday volatility. The stock initially rose about 1% to ₹2,942 before reversing direction. It later slipped nearly 2% from its intraday high to a low of ₹2,888.20 on the BSE.

MSCI Reshuffle Remains Key Trigger

Investor focus remained on the MSCI index review, which took effect after market hours on August 31.

According to a Reuters report cited by Mint, Adani Enterprises is expected to see inflows of about $202 million from passive funds tracking MSCI indices, while Adani Ports could attract around $77 million. Adani Energy Solutions is expected to receive the largest inflows among the three at roughly $310 million.

The latest MSCI review added Adani Energy Solutions, Lenskart Solutions, Laurus Labs and Billionbrains Garage Ventures, the parent company of Groww, to the MSCI Global Standard Index. The review also increased the weightage of several existing constituents, including Adani Enterprises, Adani Ports & SEZ and Adani Power.

Broader Market Recovers

The movement in Adani stocks came as the broader market recovered from early losses.

At the time of reporting, the BSE Sensex was up more than 200 points at 77,161.36, while the NSE Nifty gained 39.5 points to 24,119.90, according to Mint. The recovery followed stronger-than-expected economic growth data, although concerns over rising crude oil prices and higher bond yields amid tensions in the Middle East continued to weigh on sentiment.

India's economy expanded 7.8% year-on-year in the April-June quarter, supported by stronger investment activity, manufacturing growth and resilient consumer demand, Mint reported