Adani Stocks Dip Despite Broader Market Gains and Easing Crude Prices

Several Adani Group stocks traded lower on Monday despite gains in the broader Indian equity market. The decline follows a recent surge, where key group counters saw significant gains after global brokerage Jefferies highlighted growth opportunities across the conglomerate's energy, power, transmission, and ports businesses.

Adani Total Gas led the fall with a 5% drop to ₹629.30, while Adani Ports fell 2% to ₹1,766.70. Adani Power dropped 0.7% to ₹207.25. On the other hand, Adani Green Energy rose 1.5% to ₹1,333.95 and Adani Energy Solutions climbed 1.1% to ₹1,431.80.

Jefferies recently highlighted growth opportunities across various businesses of the conglomerate. The brokerage expects revenue and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) to grow at CAGRs (Compound Annual Growth Rates) of 22% and 29%, respectively, between FY26 and FY30 for Adani Energy Solutions.

The mixed performance across Adani Group stocks came despite a broader recovery in Indian equities. Crude oil prices eased on Monday with Brent crude futures falling 2.2% to $101.6 per barrel as investors watched for a recovery in shipments from Saudi Arabia. Lower crude prices supported the overall market sentiment.