Shares of all Adani Group companies continued their sharp rally on Monday, with Adani Power surging nearly 16 per cent, in line with a massive surge in the equity market, taking the combined market valuation of the ten listed firms to Rs 19.42 lakh crore.

The stock of Adani Power zoomed 15.64 per cent on the BSE.

Shares of Adani Ports rallied 10.25 per cent, Adani Energy Solutions climbed 8.84 per cent, Adani Total Gas soared 7.77 per cent, the group's flagship firm Adani Enterprises jumped 6.86 per cent and Adani Green Energy surged 6.39 per cent.

The stock of NDTV climbed 6.15 per cent, Ambuja Cements advanced 5.72 per cent, ACC shot up by 5.16 per cent and Adani Wilmar advanced 3.51 per cent.

At the close of trade, the combined market valuation of all the 10 listed firms stood at Rs 19,42,712.91 crore.

Many group firms hit their record peaks in morning trade.

The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record intra-day peak of 76,738.89 in early trade. The benchmark finally ended with a jump of 2,507.47 points or 3.39 per cent at 76,468.78.

Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.

The counting of votes will take place on June 4.

Shares of majority of the group firms, including Adani Enterprises, Adani Ports, Adani Power and Adani Green, also bounced back to their pre-Hindenburg Research report levels.

Shares of all Adani Group companies surged on Friday by up to 14 per cent after US brokerage Jefferies put a bullish view on the group that is back to an expansion spree with a planned USD 90 billion capital expenditure over the next decade.

An addition of Rs 84,064 crore in market value took the market capitalisation of 10 Adani group listed firms to Rs 17.51 lakh crore at the close of trading on Friday.

Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday.

Emerging from a damning report of a US short seller, which hit the market value of its listed companies, Adani Group in 2023-24 focused on containing debt, reducing founder share pledge and consolidating the business in core competencies. The five-year CAGR (compound annual growth rate) for profit growth was 54 per cent.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.