Adani Enterprises Share Price: 01 JUNE 2024 📈
Investors are predicting a major surge in the stock market, with Adani Group’s shares shining bright if the Lok Sabha election results meet investors’ expectations and BJP secures the expected seats in the elections. In this market, Adani Group’s shares could also sparkle in this potential rally.
Last year, Adani Group’s reputation suffered a blow due to the Hindenburg crisis, but the group has since delivered strong returns. The group’s post-tax profit for FY24 has increased by 55% to ₹30,768 crores.
Global brokerage firm Jefferies has analyzed the earnings data. After this analysis phase, Jefferies has recommended buying 3 shares of Adani. The group’s EBITDA for the financial year 2023 has increased by 40% to ₹660 billion. This is because of increased capacity, higher volumes, merchant contribution, and lower imported coal prices, Adani Power’s EBITDA has more than doubled over coal prices.
Excluding Wilmar, the group saw an increase in EBITDA for other companies between 16 to 33%. Jefferies has recommended buying Adani Enterprises, Adani Ports, and Adani Energy Solutions. “Adani Ports is witnessing strong growth in operations. The company’s market share has increased from 14% in FY15 to now 27% and is expected to exceed 30% by the financial year 2026-27.”
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
