Adani Stocks To Buy For Gain As Suggested By 4 Brokerages, Check Fresh TP; Q2 Result Soon

Leading analysts are upbeat on 3 Adani Group stocks. These stocks are Adani Enterprises, Adani Energy, and Adani Power. Meanwhile, Adani Enterprises successfully finalised the qualified institutional placement (QIP) and raised 4,200 crore. The firm allocated 1.41 crore shares at the issue price of Rs 2,962 per share. Adani Enterprises launched the transaction on October 9 with a deal size of Rs 4,200 crores ($500 million) and closed on October 15. Adani Enterprises shares fell over 4% in last 1-week. Check details below:

1. Buy Adani Energy: According to A R Ramachandran, Independent SEBI Research Analyst, ""Adani Energy is slightly bullish on the Daily charts with strong support at 1003. A Daily close above resistance of 1054 could lead to a target of 1184 in the near term." Previously, global brokerage Cantor Fitzgerald too recommended overweight call with target price of Rs 2251 per share.

Last trading price of Adani Energy Solutions Ltd shares on BSE is Rs 1044.80 per share. The 52-week high price of Adani Energy Solutions shares on BSE is Rs 1347.90 per share and 52-week low price is Rs 686.90 per share. The company has a market capitalisation of Rs 1,25,510.01 crore. Adani Energy Solutions shares gave return of 7% in last 1-week, zoomed 8% in last 2-weeks, and surged 37% in last 1-year. In last 2-years, Adani Energy witnessed sharp fall of 68%.

Board of Directors of the Company is scheduled to hole meeting on 22/10/2024 to consider and approve unaudited financial results of the company for the quarter and half year ended September 30, 2024.

Buy Adani Enterprises Shares: Last trading price of Adani Enterprises shares on BSE is Rs 3004.35 per share. The 52-week high price of Adani Enterprises Ltd shares on BSE is Rs 3743.00 per share and 52-week low price is Rs 2142.30 per share. Its market cap stood at Rs 3,46,756.29 crore. Adani Enterprises shares slipped over 4% in last 1-week and gained 25% in last 1-year. In last 2-years, Adani Enterprises shares fell over 8% and gained 1614% in last 5-years.

Arihant Capital Markets suggested buy call to Adani Enterprises shares with target price of Rs 3287-3350 and maintain the stop loss at Rs 3050. The analyst recommended to the stock at current levels with a stop loss of Rs 3050 for targets of Rs 3,287-3,350 levels in the next couple of weeks.

According to A R Ramachandran, Independent SEBI Research Analyst, "Adani Enterprises is bearish on the Daily charts with strong resistance at 3100 on the Daily charts. A daily close below support of 2968 could lead to target of 2750 in the near term."

3. Buy Adani Power: Brokerage firm Anand Rathi suggested buy call to Adani Power with target price of Rs 755 per share. Last trading price of Adani Power Ltd share on BSE is Rs 611.45 per share. Its 52-week high price is Rs 896.75 per share and 52-week low price is Rs 289.30 per share. The market cap stood at Rs 2,35,832.53 crore.
Adani Power shares slipped 12% in last 3-months and gained 83% in last 1-year.

It is worth mentioning that the meeting of the Board of Directors of the Company is scheduled on 28/10/2024 ,inter alia, to consider and approve the Unaudited Financial Results for the quarter and half year ended September 30, 2024.

Disclaimer: The stocks have been picked from the brokerage report of Arihant Capital, Anand Rathi, AR Ramchandran, and Cantor Fitzgerald. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.