Increased market volatility has been the norm since the 2024 election began on April 19th. The top three groups (Mukesh Ambani-led Reliance Group, Gautam Adani-led Adani Group, and Tata Group) showed different trends in their share price performance during this period, out of 10 listed stocks of Adani Group. 10 stocks have given positive returns. All but one Reliance Group stock fell. Tata Group stocks, on the other hand, are in a rather mixed picture.
During this period, seven of the Adani group stocks outperformed the Sensex’s 2.2% return, one performed in line while the other two underperformed. Adani Power rose 13.54%, while Adani Ports, ACC and Adani Green Energy rose 4.7-6.9% during the election period. Shares of Adani Energy Solutions Ltd, New Delhi Television Ltd and Adani Total Gas Ltd remained underperforming but delivered positive gains.
Among Adani Group shares, Network 18 Media and Investments Ltd fell 9.53%, Just Dial Ltd slumped 5.5%, JIO Financial Services Ltd shed 5.4% and Hathway Cable and Datacom Ltd shed 4.58%. Flagship Reliance Industries Ltd fell 2% according to data compiled up to May 21 from company database AceEquity.
Tejas Networks Ltd, Artson Engineering Ltd, TRF Ltd, Tayo Rolls Ltd, Trent Ltd, Automotive Stampings and Assemblies Ltd are some of the Tata group stocks that posted gains of 13-45 per cent during the earnings season.
During this period, Automobile Corporation of Goa Ltd., Tata Investment Corporation Ltd., Titan Ltd., The Indian Hotels Ltd., Tata Consumer Products Ltd., Tata Elxy Ltd. fell 3.4% to 10.8%, while Tata – Motors Ltd., Raris India Ltd., Tata Communications Ltd., Tata Consultancy Services Ltd. and Tata Chemicals Ltd. also posted flat to negative profits during the period.
“The market is likely to react to the election results sooner than June 4th. Investors could consider buying stocks before the results are in. Compared to the broader market, where valuations are much higher. , they can give preference to large-cap stocks that are well-valued. Both FIIs and DIIs turn to buys during the election results period, pushing large-cap stocks and indices to higher levels,” said a principal at Geojit Financial Services. said VK Vijayakumar, investment strategist.
If the initial knee-jerk reaction to the election results is an uptrend and Nifty crosses 23,500, the trajectory could continue to rise above 24,200, said Rahul Ghose, CEO, Hedged.in .
“If Nifty does not reach 23,500 in a hurry, I expect the market to fall below the 23,000 level,” he said.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.
