Overview
- Adani Power moved ahead of Infosys in market capitalisation on Wednesday after a sharp 2026 rally that pushed its valuation to about Rs 4.7–4.8 lakh crore.
- The stock’s surge this year—reported gains of roughly 65–77% in 2026—has been tied to forecasts of higher peak electricity use during severe heatwaves and an intense El Niño.
- Infosys has fallen sharply in 2026, with declines reported in the high 20s to low 30s percent range, a drop analysts link to AI-driven disruption concerns and muted revenue guidance.
- The Adani Group’s nine listed firms have recovered roughly $150 billion of value lost after the 2023 Hindenburg report, lifting the group’s combined market cap to near Rs 19–20 lakh crore.
- Analysts say the rally reflects clearer earnings at Adani companies, large investor inflows and constructive broker notes together with favourable U.S. legal developments that have eased earlier regulatory overhangs.