Adani group stocks have been the talk of the town on Dalal Street for much of 2022, standing tall even in the worst of the overall market's U-turns from within inches of their record highs. From the conglomerate's flagship company Adani Enterprises' big capex plans in infrastructure as well as new energy to optimism on the merger of six firms into electric utility Adani Power to a supply crunch for palm oil boosting the newly listed Adani Wilmar, investors have had a number of stories to chase in the group. Most of these stocks appear to be taking a breather after staging a stunning rally, and many analysts are still upbeat on the basket as a whole. Here's what to make of the Adani pack now.
The Adani group flagship is India's 10th most valued company. Adani Enterprises shares have been riding on the back of strong earnings and a solid capex plan. The stock made it to the benchmark Nifty50 basket on September 30, 2022.
Adani Power has delivered one of the best post-COVID returns to investors on Dalal Street, making it to the country's 50 most valued companies.
The conglomerate completed the acquisition of Ambuja Cements and its subsidiary ACC from Switzerland’s Holcim Group for $6.4 billion in September. Analysts are positive on Ambuja on its growth prospects on the back of its strong brand with a pan-India presence, cost efficiency and robust balance sheet.
ICICI Direct expects healthy revenue growth for Ambuja Cements in till March 2023 despite a high base citing its aggressive expansion strategy and focus on cost efficiency.
The brokerage has a target price of Rs 610 for the stock — implying an upside potential of eight percent.
The stock of edible oil maker Adani Wilmar — a joint venture between the Adani group and Singapore's Wilmar International — made it to the premium zone compared with its issue price after a muted listing in February.
Market expert Prakash Diwan is of the view that the ports business is going to take the group to a new scale structurally. "Adani Enterprises can get a bit misleading and confusing, so I wouldn’t really bet on that... But (Adani) Ports on dips is definitely something that you could continue to add to the portfolio," he told CNBC-TV18.
Adani Green Energy is one of the largest renewable energy firms in the country with a rapidly expanding capacity. The group aims to take its installed capacity to 45 GW by 2030.
Ventura Securities suggests holding Adani Transmission shares for the long term. Though the brokerage is constructively positive on the sector outlook, it plans to initiate a ‘buy’ call o it at a more attractive price. Ventura sees Adani Transmision's acquisition-led growth strategy as an upside risk to its estimates.