Adani flagship eyes India’s Nifty crown after years of turmoil
The shares have surged 34% so far in 2026, putting the company on track to end the year as the top gainer on the NSE Nifty 50 Index
Adani Enterprises Ltd., the flagship of Asia's richest man Gautam Adani, has reclaimed its position as the best-performing stock on India's Nifty 50 Index, after enduring a three-year crisis. The shares have surged by 34% so far in 2026, setting the company on track to end the year as the top gainer. This resurgence came after a period of turmoil, including a short-seller attack in January 2023 and bribery allegations against the Adani brothers.
The rally has been supported by purchases from investors such as The Capital Group, Goldman Sachs, and SBI Funds Management. The revival has reignited investor interest in Adani's infrastructure businesses, including ports, airports, and power sectors, as well as its data-center joint venture with EdgeConneX. A US District Judge recently dismissed securities fraud charges against the Adanis, and MSCI Inc. raised free-float factors for several Adani firms, boosting their weights in their index gauges.
Despite this progress, Adani still has some way to go to fully recover, as foreign holdings in the company have hit a record low. Still, the group remains a proxy for India's infrastructure boom, attracting active bets from investors willing to take on more risk.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
