Shares of Adani Total Gas have surged nearly 28% in just two trading sessions.

On 11 March, while the overall Indian stock market resumed its meltdown over the fallouts of the war between US-Israel and Iran, the city gas distributor’s stock shot up 20%. The following day, it rallied again, jumping another 7%, going well past the levels it traded at before the conflict in West Asia began in late February.

But that’s far from normal.

In fact, the ongoing war and the consequent........

© The Ken