Shares of Adani Group companies witnessed a strong rally in Wednesday’s trade, rising in tandem with the broader market momentum and supported by developments surrounding legal proceedings in the United States.
Investor sentiment improved after Gautam Adani moved a US court seeking dismissal of a securities fraud lawsuit filed by the US Securities and Exchange Commission, . The plea argues that the case represents an impermissible extraterritorial application of US law and lacks personal jurisdiction.
Against this backdrop, flagship firm Adani Enterprises surged 10 per cent to ₹2,070.30, hitting its upper circuit limit.
Adani Ports and Special Economic Zone advanced 8 per cent to ₹1,490.20 and touched an intraday high of ₹1,505.70. Power-focused entity Adani Power rose over 6 per cent to ₹174.35.
Among other gainers, Adani Total Gas rallied 10 per cent to ₹570.90. Renewable energy arm Adani Green Energy and transmission business Adani Energy Solutions also jumped 10 per cent each, hitting their respective upper circuit levels at ₹1,017.85 and ₹1,084.85, respectively.
In the cement space, Ambuja Cements hit its upper circuit, while ACC Limited posted strong gains of over 7 per cent.
The rally reflects a combination of broader market strength and easing investor concerns following the legal challenge mounted by the Adani Group, with buying seen across key verticals including ports, energy, cement and gas distribution.