Adani Enterprises, the largest stock of port-to-power conglomerate Adani Group, is a unique bet. From its foot into diverse segments that could thrive in self-reliance, to being the core of everything India wants to accomplish, Adani Enterprises has wide-scope potential. In the longest run, Adani Enterprises has journeyed from as low as 86 paise to crossing over the Rs 3,300 mark. And even despite the bombshell report of Hindenburg that led to temporary and hard-hitting thorns for Adani Group, its flagship Adani Enterprises remains evergreen.
Adani Enterprises Share Price:
On April 9, Adani Enterprises touched an intraday high of Rs 3250 apiece on BSE, up by nearly a per cent. However, tracking the market, Adani Enterprises' share price ended at Rs 3197.05 apiece, down by 0.84% on BSE.
With this, Adani Enterprises' share is just a little over Rs 150 away from hitting its 52-week high of Rs 3,349.35 apiece.
Currently, Adani Enterprises holds around Rs 3,200 mark.
The start of 2024 has been broadly fruitful for Adani Enterprises, as it recovered the losses of early 2023 due to the Hindenburg report. The stock touched its new 1-year high. YTD, the stock is up by 10%, while in a year, the stock has rallied by 78.65%. In 5 years, Adani Enterprises share is up by a whopping 2,174%.
Although, Adani Enterprises is still couple of hundred rupees away from its all-time high of Rs 4,190. But new targets on Adani Enterprises are even high!
But in 24 years, Adani Enterprises has surged by a mind-boggling 3,77,806.97%. The lowest price level of Adani stock is Rs 0.86 which was recorded on October 8, 2001. If any investor bought this Adani share even for Rs 10,000, their corpus is now at Rs 3,77,90,697.67.
The latest development for Adani stocks is that the Group is planning to pump in Rs 2.3 trillion for renewable energy expansion, and increasing solar and wind manufacturing capacity.
Adani Enterprises Q4, When?
Adani Enterprises has currently not revealed the date of its Q4 results announcement, however, it is most likely to be between late April to May month.
In Q3FY24, Adani Enterprises reported a PAT of Rs 1,888 crore, rising by a huge 130% from Rs 820 crore in the same quarter a year ago. While total income climbed by 7% YoY to Rs 28,827 crore, and EBITDA zoomed by 89% YoY to Rs 3,717 crore.
Adani Enterprises Corporate Affairs:
Adani Enterprises has paid 1 bonus and carried 1 stock split in 24 years, but it holds a strong track record of rewarding investors with dividend payouts since then.
As per Trendlyne data, Adani Enterprises has delivered 23 dividends since August 2001. While in the past 12 months, Adani Enterprises had paid dividends up to 1.20%.
The first stock split by Adani Enterprises was carried out in August 2004 in the ratio of 1:10. That meant Adani's 1 existing share with a face value of Rs 10 each, was split into ten equity shares with a face value of Rs 1 each.
Also, Adani paid 1 bonus share on existing equity shares in December 2009. The bonus issue was in the ratio of 1:1.
Buy Adani Enterprises:
Billionaire Gautam Adani's flagship company, Adani Enterprises has the potential to rise by around Rs 1,131 each or 35.4% on BSE. The highest target on Adani Enterprises so far is Rs 4,328 by a global brokerage.
Earlier, in its coverage report, Us-based financial services brokerage, Cantor Fitzgerald said, "We believe these investments are paramount for India to drive productivity growth, as GDP per capita of ~ $2,250 is meaningfully below that of China ($12,556). To that extent, we believe AEL is at the core of everything India wants to accomplish."
AEL is the most relied-upon company for bringing energy resources into India; it owns eight airports that account for ~25% of airline passenger traffic and ~33% of cargo, it is building several data centers throughout the country, it is contracted to lay more than 5,000 km of roads, and is an integral manufacturer of solar and wind equipment for India's renewable energy ambitions, among numerous other businesses, as per Cantor.
Accordingly, the global brokerage said, "We are initiating coverage of Adani Enterprises Limited (AEL) with an Overweight rating and ₹4,368 12-month PT."
Another global brokerage like Adani Enterprises Jefferies believes that Adani Enterprises businesses have the potential to emerge as industry leaders. Jefferies expects Adani Enterprises consolidated operating profit to double in the financial year 2025-25, and further grow by 3-folds by fiscal 2027-28, on the backdrop of new businesses of airport and green hydrogen.
Thereby, Jefferies has also set a target of Rs 3,800 with a buy recommendation.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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