InvestorQ : Why were all the Adani group stocks up on Monday?
Neelam Naik made post

Why were all the Adani group stocks up on Monday?

Priyanka N answered.
3 years ago

Many of the Adani stocks are infrastructure stocks and they automatically benefit from a stable government at the centre. That was the reason all the stocks in the group were sharply up on Monday. There have also been some political changes in Australia. The ruling Australian conservative party was expected by exit polls to be voted out and replaced by the Labour party. However, contrary to expectations, the ruling Conservative Party returned to power. You need to understand why this is good news for the Adani Group.

Adani group has undertaken a major mining project in Australia, which has come under the scanner of environmentalists and social group protests as it was likely to have a negative impact on the Coral Reefs. The Labour Party had promised to take up the matter and ensure that the deal does not go through. With the return of the Conservative Party in Australia, there is hope that the billion dollar mining project in Australia will go through. That was one of the main reasons why all the Adani group shares were positive on Monday.