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The Adani Group achieved a significant milestone as its total market capitalization surged past the ₹11 trillion mark on Friday, supported by consistent investments from both domestic and international investors. The conglomerate, renowned for its diverse portfolio spanning from ports to power, added ₹7,039 crore to its market capitalization on that day, elevating the cumulative market value of its ten listed companies to ₹11.02 trillion, up from ₹10.96 trillion the previous day.
Adani Group stocks have witnessed a substantial recovery since their post-Hindenburg lows, accumulating nearly ₹5 trillion in market capitalization since early March 2023. Analysts attribute this upward trajectory to sustained buying interest, driven by the group’s strategic focus, fundraising initiatives, and relentless progress in infrastructure and power projects to meet the surging energy demand.
Investors have been recognizing the value in Adani’s diversified business model, especially as the group intensifies its fundraising efforts and diligently executes development projects in the infrastructure and power sectors. With India’s robust economic growth driving a substantial increase in energy demand, the power sector is poised to become a prominent theme in the coming years, further bolstering positive sentiment around Adani Group stocks, according to analysts from a prominent domestic brokerage.
Adani Power, in particular, attracted significant attention, witnessing a 2.88% surge on Friday and reaching a ten-month high of ₹369.15, surpassing levels last seen on November 11, 2022. This remarkable rally is indicative of the positive sentiment surrounding the company’s operational performance and strategic endeavors.
Additional Adani group entities also experienced gains on Friday, including Adani Enterprises, Adani Ports and SEZ, and Adani Wilmar. Adani Ports and SEZ recorded a 1.86% increase in its market value, surpassing the ₹1.78 trillion mark, following its exceptional achievements in cargo handling.
Adani Enterprises, the group’s flagship company, closed at ₹2,519.30, marking a 0.39% rise, with a valuation exceeding ₹2.87 trillion.
The Adani Group’s recent increase in market valuation mirrors its ongoing efforts to enhance investor confidence. The conglomerate has been actively engaged in fundraising activities with global partners, including GQG Partners, with investments of over $4 billion made by GQG Partners into five Adani Group companies in the past six months.
The first-quarter financial performance of Adani’s listed firms in FY2024 demonstrated robust growth, with EBITDA reaching ₹23,532 crore, representing a 42% YoY increase. Core infrastructure EBITDA grew by 34% YoY to ₹20,233 crore, constituting 86% of the Adani portfolio.
Adani Enterprises’ infrastructure business recorded an EBITDA growth of 96% YoY, totaling ₹1,718 crore, comprising 7% of its portfolio. The group aims to achieve an EBITDA of over ₹90,000 crore in the next two to three years, signaling its commitment to sustained growth and value creation.
Sources By Agencies
