Adani Enterprises’ Stock Surges Close to 5%, Adani Ports Among Top Performers
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Mumbai, Dec 30 (NationPress) The stock of Adani Enterprises Ltd (AEL), the primary company of the Adani Group, surged by nearly 5 percent in morning trading on Monday.
As of approximately 11:06 am, the stock price of Adani Enterprises increased by 4.97 percent to Rs 2,529 per share on the BSE.
The company's market capitalization was recorded at Rs 2,88,776.02. The stock has a 52-week high of Rs 3,743 per share, with a low of Rs 2,030 per share.
The current stock price of Adani Enterprises has successfully surpassed two resistance levels. Initially, it broke through the resistance of 2,444.93, followed by crossing the resistance of 2,473.37.
In parallel, Adani Ports retained its status among the leading gainers of the Sensex. Around 10 am, Adani Ports was trading at Rs 1,239.75, marking an increase of 0.74 percent.
This uptick in AEL’s stock is viewed as a significant bullish development.
Prominent brokerage firm Ventura Securities Limited has established a target market value of Rs 3,801 for Adani Enterprises’ shares over the next two years.
In an optimistic scenario, the target price could escalate to Rs 5,748, representing a potential upside of 138.6 percent, as stated in their latest report.
According to Ventura's analysis, Adani Enterprises is on a robust growth path. The company’s consolidated revenue is expected to hit Rs 1.56 lakh crore with a CAGR of 17.5 percent from FY 2024 to 2027.
This growth is anticipated to be fueled by the company’s expansion in the sectors of airports, solar, wind turbine businesses, alongside contributions from the copper sector.
The flagship company of the Adani Group aims for a capital expenditure of Rs 6.5-7 lakh crore over the next decade, primarily focusing on airports, data centres, copper, and green hydrogen, as per Ventura's insights.
