New Delhi: Most of the Adani stocks tanked in the opening trade on Tuesday, June 04, 2024, the day of the Lok Sabha Election Results 2024. Kishor Ostwal, CMD, CNI Research said that markets have run up so much that the approach should be stock-specific. Although, if investors are looking to buy Adani stocks, he is bullish on three Adani stocks for the long term. He has recommended shares like Adani Enterprises, Adani Ports and ACC. According to him, these stocks stand to benefit if Prime Minister Narendra Modi returns to power after counting of Lok Sabha Elections 2024 get over on Tuesday, June 04, 2024.
Adani group stock performance
Adani group companies
Changes
Adani Enterprises
-2.446
Adani Total Gas
3.6105
Adani Energy
-0.675
Adani Green Energy
-1.1275
Adani Ports and SEZ
-1.0295
Adani Power
-0.34
Adani Wilmar
-0.159
Ambuja Cement
-0.482
ACC
-1.454
NDTV
-0.185
Adani Enterprises share price
Ostwal is bullish on Adani Groups’s flagship company, Adani Enterprises. The scrip has gained 50 per cent in last one year. Ostwal expects the counter to surge further from current levels but in the long term. The scrip copened at Rs 3,420 apiece on Tuesday, June 04, 2024.
Return of Adani Stocks in Last Six Months:
Adani Stocks
Last Six Months Return (%)
Adani Enterprises
30
Adani Ports and SEZ
81
ACC
32
Adani Ports share price
Ostwal’s second pick from the Adani conglomerate is logistics player, Adani Ports. In run up to the elections, the scrip has rallied 81 per cent in the last six months.
The scrip’s price in the opening session on Tuesday was Rs 1,515 on the BSE.
Ostwal is also bullish on ACC
Ostwal is also bullish on another Adani stock which is ACC. According to him, the cement stock currently looks good. In the last six months, the scrip has given returns of 32 per cent. On Tuesday, the stock opened at Rs 2,596 apiece on the NSE.
All these three Adani stocks also feature in CLSA’s list of 54 Modi Stocks
(Disclaimer: Stocks recommendations by experts or brokerages are their own and not those of the website or its management. We advise readers to check with certified experts before taking any investment decisions.)
Adani Group stocks Adani Enterprises, Adani Ports and ACC were down on Tuesday amid profit booking after Lok Sabha Election vote counting went underway. Sensex and Nifty remained were off day’s lows but remained volatile. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
