On February 3, 2026, the Adani Group witnessed a massive rally, with several key stocks surging up to 13% following the landmark India-USA Trade Deal and strong Q3 FY26 earnings reports.
The conglomerate emerged as one of the primary beneficiaries of the trade agreement, which slashed US tariffs on Indian goods from 25% to 18%. This policy shift, combined with robust financial results from flagship entities, sparked aggressive buying across the group’s infrastructure, energy, and logistics portfolios.
1. Stock Performance Snapshot (Feb 3, 2026)
The rally was led by the group’s flagship firm and its renewable energy arm, both of which hit double-digit gains during intraday trade.
| Company | Intraday Gain | Closing Price (Approx.) | Key Driver |
| Adani Green Energy | ↑ 12.87% | ₹951.35 | Improved competitiveness for solar exports. |
| Adani Enterprises | ↑ 11.89% | ₹2,232.00 | Trade-linked infra & ₹5,627 Cr Q3 profit. |
| Adani Energy Sol. | ↑ 10.00% | ₹972.55 | Expansion in grid & trade-related infra. |
| Adani Ports & SEZ | ↑ 8.33% | ₹1,520.00 | Higher trade volumes & 21% jump in Q3 profit. |
| Adani Power | ↑ 7.76% | ₹145.00 | Shift to US energy sourcing & trade linkages. |
2. Strategic Impact of the Trade Deal
The deal announced by President Trump and PM Modi removes major “overhangs” that had previously dampened sentiment toward Indian large-cap stocks:
- Tariff Competitiveness: Reducing US import duties to 18% makes Indian products more competitive than those from Asian peers like Vietnam or China.
- Energy Transition: India’s commitment to importing US coal and energy (moving away from Russian oil) provides long-term supply chain clarity for Adani Power and Adani Energy Solutions.
- Solar Export Boost: The deal is structurally positive for Adani Green Energy, as lower tariffs improve the economics of Indian-made solar PV modules and green hydrogen exports to the US.
3. Q3 FY26 Earnings Breakouts
The stock surge was further fueled by strong quarterly performance reports released on the same day:
- Adani Ports: Reported a 21% jump in net profit to ₹3,054 crore. The company raised its FY26 revenue guidance to ₹38,000 crore, citing record domestic cargo market share (45.8%) and international growth.
- Adani Enterprises: Reported a staggering net profit of ₹5,627 crore (v/s ₹58 crore YoY). This was primarily driven by a one-time gain of ₹5,632 crore from the stake sale in AWL (Adani Wilmar).
- Credit Rating Upgrades: Sentiment was bolstered by the Japan Credit Rating Agency (JCRA), which recently assigned ‘Stable’ ratings to Adani Ports (A-), Adani Green (BBB+), and Adani Energy (BBB+).
4. Brokerage Commentary
- Jefferies: Highlighted the Adani Group as a “top beneficiary” due to its significant exposure to infrastructure and energy trade linkages.
- Antique Stock Broking: Identified Adani Ports and Adani Power as strategic plays for investors looking to capitalize on deeper bilateral economic ties.
- SBI Securities: Noted that the deal would help arrest FII (Foreign Institutional Investor) outflows and aid the Rupee’s recovery, driving positive sentiment across the group.
Conclusion: A Structural Re-Rating
The February 3 rally marks a fundamental shift for the Adani Group. By aligning its core businesses—ports, renewables, and power—with the new India-US economic corridor, the conglomerate has transformed geopolitical shifts into a significant tailwind. While debt and leverage remain long-term monitoring points, the combination of tariff relief, record quarterly profits, and international credit validation has returned the group to a position of market leadership.
