Adani shares post first weekly gain since September. Experts recommend these three stocks to buy

Adani shares to buy: Following heavy criticism over alleged bribery reports, Adani Group shares have been on an upward trend in the last three sessions. In the last three sessions, Adani Green Energy share price rose sharply ₹898.55 tons ₹1,315.05 apiece on the NSE, registering a rise of over 36 percent in just three sessions. The share price of Adani Group’s core business, Adani Ports, rose by around ₹1,129 tons ₹1,187.50 per piece, almost 5 percent. In contrast, Adani Energy’s share price rose over 37 percent in the last three sessions in November 2024. After erasing Tuesday’s sharp losses, Adani Group shares posted weekly gains for the first time since September 2024.

According to stock market experts, Adani Group shares witnessed an intense bargain hunt following the sharp decline in the alleged bribery allegations in the US court. They said the market appeared unaffected by these alleged allegations as most of his investors, such as GQG Partners, Abu Dhabi’s IHC and the Bank of Japan, strongly supported Gautam Adani and his companies. This helped Gautam Adani and its flagship companies emerge stronger from the alleged bribery allegations. When asked which Adani stocks to buy when the market opens on Monday, they suggested buying these three stocks: ACC, Ambuja Cement and Adani Ports.

Why are Adani shares exploding?

On the reasons driving Adani Group shares, Mahesh M Ojha, AVP – Research at Hensex Securities said, “This is the first time since September 2024 that Adani Group shares have registered weekly gains. This could happen due to strong support.” Gautam Adani was the first to come forward after the bribery allegations in a US court, followed by various other lenders and investors like IHC Bank of Abu Dhabi of Japan etc. This instilled investor confidence and sparked relief a bottom fishery in Adani Group shares.”

Adani Group shares to buy

Anshul Jain, Head of Research at Lakshmishree Investment and Securities, asked whether one can still buy Adani shares despite the strong recovery: “The Adani Ports share price can be a good addition to one’s portfolio as the company is the core of the entire group represents.” . Gautam Adani is a top billionaire today and he started his journey with this company. Therefore, this company is expected to remain the heart of the entire group. Therefore, I recommend investors to add Adani Ports shares to their portfolio even though the shares are available at higher valuations.”

The Lakshmishree Investment and Securities expert said that the inclusion of Adani Green Energy and Adani Energy Solutions in the futures and options (F&O) segment of the National Stock Exchange attracted large participation from traders and investors, sending these two stocks soaring.

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

Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerage firms and not of Mint. We recommend investors consult certified experts before making an investment decision.