Adani Energy Solutions shares rose over 2% to touch a fresh 52-week high of ₹1,614.80 on Monday, marking the third consecutive session of gains and extending the stock's strong performance momentum. According to The Hindu BusinessLine, the stock is up 78.38% in the last one year, significantly outperforming the broader market where NIFTY declined 7.4% and Nifty Energy index fell 10.49% during the same period. The latest rally comes after SBI Mutual Fund acquired a stake in the company through an open market transaction last week, with the stock touching a fresh 52-week high of ₹1,614.80 on Monday. The benchmark June futures contract is quoting at ₹1,613.9, up 1.51%, indicating continued bullish sentiment among institutional investors.
On Friday, SBI Mutual Fund purchased stakes in Adani Enterprises and Adani Energy Solutions from US-based GQG Partners for a combined ₹5,747 crore through block deals on the NSE. According to The Hindu BusinessLine, SBI Mutual Fund acquired nearly a 1.3% stake in Adani Enterprises and a 0.52% stake in Adani Energy Solutions. The shares were bought in the price range of ₹1,504.80 to ₹2,913.40 apiece, taking the total transaction value to ₹5,747.55 crore. The latest acquisition comes after SBI Mutual Fund last month bought a 0.45% stake in Adani Enterprises for ₹1,435 crore. Rajiv Jain-backed GQG Partners, through its affiliate GQG Partners Emerging Markets Equity Fund, sold the same number of shares in the two Adani Group companies. The muted movement in most Adani Group counters came even as benchmark indices traded lower during the session.
While Adani Energy Solutions emerged as the key outperformer, other Adani Group companies traded largely flat on Monday despite weakness in the broader market. According to The Hindu BusinessLine, Adani Enterprises traded flat at ₹3,023.60 on the NSE at around 12 noon, having recently touched a 52-week high of ₹3,059.80 on Friday, June 5. Among other group stocks, Adani Ports traded flat at ₹1,825.20, while Adani Power was steady at ₹233.13. Adani Green Energy also traded flat at ₹1,515.40, while Adani Total Gas remained unchanged at ₹755.90. ACC traded flat at ₹1,326.80 and Ambuja Cements was steady at ₹417.20, while AWL Agri Business declined around 1% to ₹186.88 on the NSE. The muted movement in most Adani Group counters came even as benchmark indices traded lower during the session.
Jefferies highlighted that Adani Energy remains uniquely positioned as India's only listed private-sector pure-play transmission and distribution company, with management emphasizing a robust outlook for the country's power transmission sector. The company is currently executing transmission projects worth ₹71,800 crore, up 20% YoY, while the near-term bidding pipeline has expanded significantly to ₹1.5 lakh crore from ₹5,400 crore at the end of FY25. This substantial pipeline growth demonstrates the company's strong positioning to capitalize on India's expanding power infrastructure needs and positions it well for sustained growth in the transmission sector. The company's near-term bid pipeline is ₹1.5 lakh crore as against ₹54,000 crore at the end of FY25, as reported by Livemint.
A key growth driver remains the company's smart metering business, which installed 1.14 crore smart meters by the end of FY26, compared with 31 lakh a year earlier. As reported by NDTV Profit, Jefferies noted that nearly 10 crore smart meter tenders are yet to be awarded under the government's broader rollout programme, leaving a sizeable opportunity for future wins. This substantial addressable market underscores the long-term growth potential in the smart metering segment and positions Adani Energy as a key beneficiary of India's smart grid modernization initiative. The smart meter projects are ramping up well and are a key growth driver going forward, according to Livemint.
Meanwhile, the group chairperson, Gautam Adani, regained the position of Asia's richest person after a surge in the share prices of listed Adani Group companies boosted his net worth. According to a Forbes report, Gautam Adani's fortune rose by around $2.5 billion on Friday as shares of Adani Group firms rallied sharply. According to Forbes' Real-Time Billionaires List, Adani's net worth climbed to $89.2 billion, ahead of Reliance Industries chairman Mukesh Ambani at $88 billion and SoftBank founder Masayoshi Son at $87 billion. This wealth surge reflects the strong performance of Adani Energy Solutions and other group companies, with the company's diversified portfolio across transmission, smart metering, and emerging energy services providing multiple growth avenues.
