Shares of all Adani Group companies rallied in early trade on Tuesday, led by gains in Adani Power Ltd. and Adani Green Energy Ltd.
Adani Power gained close to 19% to Rs 535 per share, as trading volume surged 11 times its 30-day average.
Adani Ports & Special Economic Zone Ltd.'s shares jumped 5.9% after Bernstein reintroduced the stock to its model, following a steep 25% correction that now offers attractive valuations and potential upside.
Adani Energy Solutions Ltd. share price soared over 14% in early trade on Tuesday, as the power transmission company secured major orders worth Rs 28,455 crore in the third quarter of the current fiscal, significantly boosting its order book, as per provisional business update.
Flagship Adani Enterprises Ltd.'s stock rose nearly 9% to Rs 2,422 per share as trading volume more than tripled the 30-day average. The stock was the best performer among its peers on the benchmark Nifty 50.
Four analysts on Bloomberg maintain a 'buy' rating. The price target of Rs 4,255 represents a 76% increase from the previous close.
Adani Green Energy Ltd. stock advanced 13.8% to Rs 1,012, as trading volume went up by four times the average.
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