Adani shares registered their first weekly gain since September. Experts recommend buying these three stocks

Adani shares to buy: After taking a major hit over alleged graft allegations, Adani Group shares have been on the rise for the last three sessions. In the previous three sessions Adani Green Energy Share Price broke out of ₹from 898.55 to ₹1315.05 apiece on NSE, up over 36 percent in just three sessions. Core of Adani Group, Adani Ports share price gushed out from behind ₹from 1129 to ₹1187.50 per piece, which is almost 5 percent. In contrast, Adani Energy share price has risen over 37 percent in the last three sessions of November 2024. After recouping sharp losses suffered on Tuesday, Adani group shares registered a weekly gain for the first time since September 2024.

According to stock market Adani Group shares have witnessed intense bargain hunting following a sharp decline in the number of alleged bribery charges filed in US courts, experts say. They said the market appears unmoved by these alleged allegations as most of its investors such as GQG Partners, IHC Abu Dhabi and the Bank of Japan have strongly backed Gautam Adani and his companies. This has helped Gautam Adani and his flagship companies shine in the wake of alleged bribery allegations. When asked which Adani stocks to buy when the market opens on Monday, they suggested these three stocks to buy: ACC, Ambuja Cement and Adani Ports.

Why are Adani shares soaring?

On the reasons fueling Adani Group shares, Mahesh M. Ojha, AVP – Research at Hensex Securities said, “For the first time since September 2024, Adani Groip shares have registered a weekly gain. This may be due to the strong support provided by the Adani Group. Gautam Adani faced bribery allegations in a US court and his largest investor, GQG Partners, came forward first, followed by various other lenders and investors such as Abu. IHC Dhabi, Bank of Japan etc. This has instilled confidence among investors and triggered bottom fishing for Adani Group shares.”

Adani Group shares can be bought

On whether there is any Adani stock to buy despite the sharp recovery, Anshul Jain, Head of Research, Lakshmishree Investment and Securities said, “Adani Ports share price could be a good addition to a portfolio as the company is the core of the entire group. . Gautam Adani has become a leading billionaire today and started his journey with this company. Therefore, this company is expected to remain the core of the entire group. Hence, I recommend investors to add Adani Ports shares to their portfolio even though they are available at a higher price.”

Investment and securities expert Lakshmishri said the inclusion of Adani Green Energy and Adani Energy Solutions in the Futures and Options (F&O) segment of the National Stock Exchange has attracted huge attention from traders and investors, leading to sharp growth in the two stocks.

On the stocks to buy from the Adani group of companies, Mahesh M Ojha of Hensex Securities said, “I would recommend new investors to look at ACC and Ambuja Cement shares. These two Adani group companies are rich companies. Their balance sheets are very strong. and due to the Government of India’s (GoI) focus on infrastructure, cement demand is expected to remain at a higher level, which is beneficial for these cement companies.”

Disclaimer: The opinions and recommendations expressed above are those of the individual analysts or brokerage firms and not of Mint. We advise investors to consult with certified experts before making any investment decisions.