Brokerage Ventura Securities is positive on a couple of Gautam Adani-led Adani group firms with an upside of up to 80 per cent in the next 24 months. Multibagger returns have caused the shares of the company to be buzzing on Dalal Street for the past three years.
Adani Green Energy gained the top spot in the group with a rally of 4,368 per cent. The company's shares went up to 2,320. Adani Total Gas, Adani Enterprises, Adani Transmission and Adani Power also gained between 485 per cent and 2,550 per cent during the same period. Since September 2019, the benchmark equity index BSE Sensex has added nearly 49 per cent.
Adani Wilmar, listed on the bourses in February 2022, was traded nearly 252 per cent higher at Rs 808.80 on September 23, 2022, against the issue price of Rs 230. Ventura Securities said that the food category is a large space and has decadal growth opportunities ahead, and that we continue to hold onto the stock, despite the fact that the food category is a large space that is significantly underpenetrated and has decadal growth opportunities ahead. Adani Wilmar is sacrificing immediate profitability in order to grow quickly and gain market share. The company is scouting for acquisitions that will help it grow faster than the industry pace. In the next 2 years, Ventura Securities sees over 50 per cent growth in Adani Green Energy shares with a target price of Rs 3,581. We believe that Adani Green, with its locked-in growth of 20.4 GW, superior execution skills and demonstrated ability to onboard capacities at blazing speed, is on track to achieve its high ambitions of 45 GW of renewable power generation by 2030. The company's shares were trading 4.47 per cent down at Rs 2217.25 in the morning trade on September 26, 2022. Ventura Securities said that the overall revenue of Adani Green Energy will increase by 70.6 per cent CAGR from Rs 5,133. In FY 22, 0 crore was lost to Rs 25,484. In FY 25 there were 5 crore.
Ventura Securities believes that Adani Transmission may reach Rs 4,172 by September 2024, as well as other major Adani group companies. It shows a rise of over 10 per cent from the market price of Rs 3,719 on September 26. Adani Ports has set a target price of Rs 1,628, showing an upside of over 85 per cent from the market price of Rs 868.
We expect the debt levels to fall to Rs 42,105, as a result of this. In FY 25, 1 crore came from Rs 45,752 In FY 22 there were 3 crore recorded, but we are cognizant of the fact that debt levels could potentially spike in case of a successful CONCOR bid, Ventura Securities said in a report.