Adani Group Shares Extend Rally After India–U.S. Trade Deal; Market Cap Crosses ₹14 Lakh Crore

Adani Group shares continued to advance on Wednesday, extending gains from the previous session after the announcement of the India–U.S. trade deal, with the combined market capitalisation of all listed Adani companies rising above ₹14 lakh crore, as per data from the National Stock Exchange and BSE.

Adani Power surged more than 8% during intraday trade, while Adani Green Energy gained over 4%. Shares of Adani Energy Solutions, Adani Enterprises, and Adani Total Gas rose more than 2% each. Adani Ports and Special Economic Zone climbed 1.6% to hit a fresh 52-week high, while Ambuja Cements and ACC advanced over 1% each. NDTV shares jumped nearly 10%, according to exchange data.

India–U.S. Trade Deal Drives Sentiment

The rally followed the announcement that India and the U.S. have reached a trade agreement that is under which tariffs on Indian exports to the U.S. will be reduced to 18% from 50%. The announcement was made by U.S. President Donald Trump on Monday, according to official statements.

Following the announcement, Adani Group stocks collectively gained around 11% on Tuesday. The upward momentum continued on Wednesday, pushing the combined market value of the group’s listed entities to about ₹14,67,370 crore, based on exchange data.

Jefferies, in a note cited by Reuters, identified the Adani Group among potential beneficiaries of the tariff reduction on Indian goods exported to the U.S. Antique Stock Broking also listed Adani Power and Adani Ports & SEZ as beneficiaries of the trade agreement, according to brokerage communication.

Defence And Manufacturing Developments

Separately, Adani Group announced strategic partnerships in the defence and aerospace segment. Adani Defence & Aerospace and Italian defence major Leonardo signed a Memorandum of Understanding to establish an integrated helicopter manufacturing ecosystem in India, according to a company release issued on Tuesday.

The partnership will focus on meeting the requirements of the Indian Armed Forces, including the production of Leonardo’s AW169M and AW109 TrekkerM helicopters. The collaboration will also involve phased indigenisation, maintenance, repair, and overhaul facilities, and pilot training capabilities, the release said.

Last week, Adani Defence & Aerospace also announced a strategic collaboration with Brazil-based Embraer to explore the establishment of a regional aircraft manufacturing facility in India, as per company disclosures. According to data cited in the release, India’s helicopter market is projected to grow from $1.58 billion in 2024 to $2.88 billion by 2032, reflecting rising demand in defence and civil aviation segments.