In the aftermath of Hindenburg Research’s 106-page report, Adani Group stocks have showcased resilience and growth, with three out of 10 listed stocks making significant strides amid market fluctuations. Despite the massive volatility over the past year, the group’s combined market capitalisation rebounded from a low of Rs 6.81 lakh crore to approximately Rs. 14.5 lakh crore.
Adani Power Leads with 89% Growth
Adani Power emerges as the front-runner, recording an impressive 89% gain in the year leading up to January 24, 2024. Following closely are Adani Ports and Special Economic Zone (47% growth) and Ambuja Cements (6% growth) during the same period.
Motilal Oswal Financial Services Bullish on Adani Ports
Motilal Oswal Financial Services expresses optimism about Adani Ports (APSEZ) and sets a target price of Rs. 1,410, considering the company’s ambitious goal to become India’s largest integrated transport utility and the world’s largest private port company by 2030. The report highlights expectations of a 14% growth in cargo volumes over FY23-26, driving revenue, EBITDA, and PAT with a CAGR of 19%, 18%, and 17%, respectively.
Adani Enterprises (AEL) Positioned for Growth
Global financial services firm Cantor Fitzgerald initiates coverage on Adani Enterprises with a target price of Rs. 4,368, indicating a 44% upside from the current market price of Rs. 3,033. Cantor Fitzgerald emphasizes AEL’s integral role in India’s energy, transportation, and renewable ambitions, citing its significance in energy resource transportation, airport ownership, data center development, road construction, and renewable energy equipment manufacturing.
Bullish Shareholding Trends
Recent shareholding data reveals bullish sentiments among domestic investors towards Adani Group stocks. Mutual funds increased their stake in Adani Enterprises and other group entities, reflecting confidence in the group’s prospects. Retail investors also raised their stakes in various Adani Group stocks, affirming positive market sentiment.
Overall, the Adani Group’s resilience and strategic positioning across diverse sectors contribute to a notable rebound in market capitalisation, showcasing a trajectory of growth despite earlier challenges.
