The number of shareholders in Adani's portfolio has significantly increased, reaching 6.7 million. This is approximately six times the number of shareholders in the financial year-ended March 2019, which was 1.1 million, according to the latest presentation by the conglomerate.
Moreover, Adani's equity programme has attracted about $10.8 billion in investments from long-term investors. This update follows the recent recovery of Adani Enterprises Ltd., the flagship company of billionaire Gautam Adani, after it recouped all losses that were triggered by the short-seller Hindenburg Research's allegations.
Following the recovery, international research firm Jefferies noted that the Adani Group is on an expansion spree, with a potential capital expenditure of $90 billion over the next decade, after surging back from the Hindenburg lows.
The brokerage firm has maintained its 'buy' rating on all four Adani companies it covers—Adani Enterprises Ltd., Adani Ports and Special Economic Zone Ltd., Adani Energy Solutions Ltd., and Ambuja Cements Ltd.
The challenges the group overcame last year have strengthened its resolve, and they draw inspiration from the very resilience that India embodies, Billionaire chairman Gautam Adani said in an annual report last week, adding that a two-pronged attack by the US-based short-seller, Hindenburg Research, targeted the group on the financial and political fronts, which led to a multi-dimensional crisis.
The road ahead is paved with extraordinary possibilities, and the chairman promised that the Adani Group today is stronger than it has ever been.
On Friday, Adani Group stocks added as much as Rs 1.23 lakh crore in investor wealth, taking their total market capitalisation to Rs 17.94 lakh crore intraday.
The group's presentation also highlighted that the listed entities trade at a NIFTY 50 multiple of 20.3 times, compared to the benchmark's 19.2 times. The portfolio has also demonstrated superior Ebitda growth, outperforming both domestic and global indices.
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