Indian Shares Set to Open Higher; Adani Stocks Remain in Focus

Indian shares are poised to open higher, with Adani Group stocks remaining in the limelight, as market sentiments are lifted by positive developments around the companies. The Adani Group's cumulative market capitalisation rose to around ₹9.4 lakh crore on Monday, with all 10 listed entities trading higher. The rally was led by Adani Total Gas, Adani Green Energy, and Adani Transmission, which hit their respective 5% upper price bands. The positive trends in Adani group stocks were in sync with the broader market, which was trading higher amid a strong rally across realty and power space.

The market sentiments were also lifted by positive developments around the companies. Adani Total Gas reduced gas prices following the revision in the pricing methodology for domestic natural gas by the government. It cut prices of compressed natural gas (CNG) by ₹8.13 per kg and those of piped natural gas (PNG) by ₹5.06 per standard cubic metre (scm), effective from midnight April 7, 2023. Adani Power announced the commissioning of its first 800 MW ultra-super-critical thermal power generation unit at Godda in the Jharkhand district of India. The company has also begun supplying electricity from its plant in Godda to Bangladesh with 748 MW of power.

Adani Wilmar, the FMCG arm of the diversified conglomerate, released a business update for the March quarter (Q4 FY23). It posted year-on-year (YoY) volume growth of around 14% in FY23, which enabled it to cross ₹55,000 crore of revenue for the year. The company's shares jumped as much as 2.5% to ₹420 as compared to previous closing price of ₹409.55 on the BSE.



The rally in Adani group stocks comes amidst a broader market rally, with the Nifty 50 and Sensex indices ending the previous session in the green. However, the Indian markets continue to remain on edge as Adani Group stocks remain in focus due to the US bribe plot charges. The conglomerate's market capitalization has been volatile, with shares of Adani Enterprises, Adani Total Gas, and Adani Green Energy hitting their respective 5% lower circuits in the past.



The regulatory environment plays a significant role in shaping the Indian share market's trajectory. The Securities and Exchange Board of India (SEBI) has been actively scrutinizing the Adani Group's financials, leading to a decline in the conglomerate's market capitalization. This has raised concerns about corporate governance and transparency, affecting investor confidence in the broader market.

In conclusion, Indian shares are set to open higher, with Adani Group stocks remaining in focus. The positive trends in Adani group stocks are in sync with the broader market, which is trading higher amid a strong rally in realty and power sectors. However, the regulatory environment remains a critical factor influencing the Indian share market's trajectory, with investors closely monitoring regulatory developments and their potential impact on market dynamics.