Three Adani Group companies have given multibagger returns since last Diwali
Two other Adani Group companies, Adani Green, have given 76.72 per cent and Adani Transmission 71.88 per cent since last Diwali. In Samvat 2078, another company of Adani Group, Adani Wilmar was listed on the stock market. Simultaneously, Gautam Adani-led Adani Group bought two listed cement companies SCC and Ambuja Cements.
what investors to do
None of the 22 analysts covering Adani Ports have a sell advice. Kotak Institutional Equities has increased its target price from Rs 810 to Rs 900. According to Trendline data, the average target price of the company’s stock is Rs 913, which is 13 per cent higher than its current price. On the other hand, Adani Power, Adani Enterprises, Adani Green Energy and Adani Total Gas are hardly covered by any analyst. Domestic brokerage firm Ventura Securities recently assigned a hold rating to Adani Total Gas for long-term gains. The firm has set a target price of Rs 3,475 for the next 24 months, which is just six per cent higher than its current market price.
