Adani Ports shares gain over 9% post exit polls and strong Q4 GDP data

The stock was up 9.1% at ₹1,569 on the National Stock Exchange (NSE). The company's total market capitalisation stood at ₹3.39 lakh.

It gained 8.9% at ₹1,567 on the BSE.

According to exit polls and post-election surveys, the National Democratic Alliance (NDA), which is led by Bharatiya Janata Party (BJP), is projected to win by a large margin.

A poll of exit polls suggests that the NDA could win approximately 366 seats, around 94 seats above the majority mark of 272. Exit polls indicated that the BJP alone will secure more than 310 seats.

India posts impressive GDP numbers

Apart from this, the Indian economy also grew at a rate of 7.8% during the latest March quarter, according to data from the National Statistical Office (NSO) of the Ministry of Statistics and Programme Implementation (MSPI).

The provisional real gross domestic product (GDP) growth for the full fiscal year 2023-24 stood at 8.2%.

Besides this, Adani International Ports Holdings Pte Ltd. (AIPH), a wholly owned subsidiary of Adani Ports, also signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port, Tanzania.

Meanwhile, benchmark indices NIFTY50 (+3.58%) and SENSEX (+3.55%) opened at record high on Monday. NIFTY50 started at 23,337, while SENSEX was at 76,583.29. All stocks were advancing in the NIFTY50 space. Adani Ports, Adani Enterprises and L&T were among top gainers.