Adani Group shares rallied on Wednesday on hopes that the Hindu nationalist opposition leader, Narendra Modi-led Bharatiya Janata Party (BJP) may form the next government.

The billionaire infrastructure-builder Gautam Adani's is often associated with the rise of Modi, expected to become India's next Prime Minister once the country's election ends next month.

Shares of Adani Enterprises surged the most with gain of 4.44% and Adani Ports climbed 3.61%.

On the other hand Adani Power fell 1.32% to Rs 52.30.