MUMBAI: Shares of Adani Group companies advanced in early trading on Thursday, November 12, with Adani Enterprises, Adani Ports and Special Economic Zone (APSEZ), Adani Energy Solutions and Adani Green Energy among the leading gainers.

Adani Energy Solutions climbed as much as 1.8% on the NSE, outperforming the benchmark Nifty, which was up around 0.4% at the time of reporting. The positive movement reflected buying interest across several group companies.

Adani Enterprises gained 1.61%, Adani Ports advanced 1.49%, Adani Energy Solutions rose 1.6%, while Adani Green Energy added 1.76%.

At around 10.15 am, Adani Ports and Adani Enterprises were trading more than 1% higher at approximately Rs 1,907 and Rs 2,714.50 per share, respectively.

MSCI inclusion boosts attention on Adani Green Energy

One of the developments drawing investor attention was the inclusion of Adani Green Energy in the MSCI Global Standard Index as part of its November 2026 review.

The inclusion is expected to attract passive investment inflows of around $60 million into the company, according to the report. Stocks included in major global indices can receive additional attention from institutional investors and funds that track those benchmarks.

The broader MSCI changes are also expected to increase India’s weight in the MSCI Emerging Markets Index from 11.5% to 11.7%.

The revised index composition is expected to bring incremental passive inflows of approximately $2 billion on November 30. Such changes can influence institutional portfolio allocations and trading activity around the effective date.

Evos acquisition funding plan in focus

Another development involving the Adani Group was its reported funding strategy for the proposed acquisition of Evos B.V., a European tank-storage company.

The group is considering funding as much as half of the €2.56 billion acquisition through equity, with the remaining amount expected to come through a syndicated loan.

The reported plan involves an equity contribution of up to the equivalent of $1.45 billion. The group is also working on refinancing approximately €1.3 billion of existing debt at Evos.

Mitsubishi UFJ Financial Group Inc. is reported to be the sole underwriter for the transaction and has committed financing of up to €2.8 billion. Other lenders are reportedly in discussions to participate in the financing at a later stage.

The proposed acquisition and its funding structure are being watched by investors as they assess the group’s expansion plans and capital requirements.

Recent quarterly results provide business context

The latest movement in Adani shares comes after several group companies reported their September-quarter results for FY27.

Adani Enterprises reported a 74% year-on-year increase in consolidated revenue to Rs 38,023 crore in the second quarter. Its EBITDA rose 62% to Rs 6,316 crore.

Adani Ports and Special Economic Zone reported consolidated revenue of Rs 11,340 crore, up 24% from the corresponding quarter last year. EBITDA increased 23% to Rs 6,807 crore, while net profit rose 18% to Rs 3,682 crore.

Following its first-half performance, APSEZ raised its FY27 revenue guidance by Rs 1,000 crore to Rs 44,000 crore-Rs 46,000 crore. Its EBITDA guidance was also increased by Rs 1,000 crore to Rs 26,000 crore-Rs 27,000 crore.

These results have provided an important business backdrop for investors tracking the group’s listed companies, although individual share-price movements can also reflect broader market sentiment and company-specific developments.

Broader market conditions remain supportive

Indian equities also traded higher on Thursday amid easing crude oil prices and strong foreign investor participation.

The Nifty 50 and Sensex recorded modest gains in early trading. Foreign portfolio investors had purchased around $1.34 billion worth of Indian shares on Wednesday, taking their net November inflows to approximately $6.43 billion

Lower crude oil prices and renewed foreign investment have supported sentiment in the domestic equity market. However, market participants remain watchful of volatility and possible profit-booking following the recent rally.

The gains in Adani Group shares therefore came amid a combination of company-specific developments, index-related changes and a broadly positive market environment. Investors will continue to track the progress of the group’s proposed acquisition plans, quarterly performance and institutional investment flows.