Adani Power‘s shares surged up over 15% to hit a new all-time high of ₹890 as the Indian markets shed election jitters on Monday.

What Happened: Shares of Adani Power along with other Adani Group stocks such as Adani Ports, Adani Enterprises and Adani Green on Monday after exit polls predicted the incumbent government returning to power.

This anticipated win is viewed by brokerage firms and market analysts as a substantial boost for the Indian economy and stock markets, ensuring political stability and policy continuity. Both benchmark indices, Nifty and Sensex, reached all-time highs today.

With the surge in stock price, Adani Power's market capitalisation reached around ₹3.36 lakh crore surpassing major companies like Titan, Tata Motors, Ultratech Cements, Asian Paints and 26 other companies in the Nifty 50.

Shares of the energy major have been on an incredible run. The stock took a major hit after the release of the Hindenburg report came out last year. Since then, the stock has not only recovered to pre-Hindeburg levels but even surpassed it, hitting several record highs. In just the last six months, the stock has surged up over 80%.

Price Action: Adani Power’s share price was up 13.86% to trade at ₹860.55 shortly after market open on Monday.