Shares of several Adani Group companies have delivered robust returns over the last three months, sparking investor interest in their continued trajectory. Adani Enterprises Ltd (AEL) led the pack with a 61.09% gain, followed by Adani Power Ltd with 49.20%, and Adani Ports and Special Economic Zone Ltd (APSEZ) which rose by 30.59%.
Analyst Ratings and Strategic Moves
The recent surge follows positive assessments from major financial institutions. Morgan Stanley recently initiated coverage on Adani Enterprises, assigning an 'Overweight' rating with a target price of Rs 3,638. Concurrently, S&P Global Ratings upgraded APSEZ's long-term issuer credit rating to an investment-grade 'BBB' from 'BBB-'.
S&P Global highlighted APSEZ's strong cash generation, improving balance sheet, and its capacity to fund expansion plans while maintaining healthy leverage. The agency expects APSEZ to sustain strong operating performance over the next 12-24 months, projecting a net debt-to-EBITDA ratio around 2.6 times despite anticipated high capital expenditure.
In a significant strategic announcement, Adani Group Chairman Gautam Adani revealed plans at the company's annual general meeting to develop 10 gigawatts (GW) of nuclear power capacity by 2035. This marks the conglomerate's entry into nuclear energy, further diversifying its integrated power platform which already includes thermal, renewable, hydro, gas, and transmission businesses.
Technical Outlook for Key Adani Stocks
Adani Enterprises Ltd (AEL)
Virat Jagad, Senior Research Analyst at Bonanza, noted that AEL is in a strong uptrend, trading above its 20-, 50-, 100-, and 200-day exponential moving averages (EMAs), indicating sustained bullish momentum with supportive volume participation. For new positions, Jagad suggested an entry above Rs 3,060 with a stop-loss at Rs 2,930, targeting Rs 3,200 and Rs 3,350. Existing investors are advised to hold with a trailing stop loss at Rs 2,900, eyeing targets of Rs 3,200, Rs 3,350, and Rs 3,500 if the stock maintains above short-term EMA support.
Adani Power Ltd
Jagad also observed that Adani Power is consolidating near Rs 230 after a strong rally, yet it continues to trade above its key EMAs, suggesting the broader bullish structure remains intact. He recommended fresh entries above Rs 235 with a stop-loss at Rs 227 and targets of Rs 245 and Rs 255. Current holders may maintain positions with a stop-loss at Rs 221 (below the 50-day EMA), anticipating potential upside towards Rs 245, Rs 255, and Rs 265, provided the stock stays above key EMA support.
Adani Ports and Special Economic Zone Ltd (APSEZ)
AR Ramachandran, a Sebi-registered research analyst at Tips2trades, stated that Adani Ports remains bullish on daily charts with strong support at Rs 1,778. He indicated that a daily close above the resistance level of Rs 1,849 could trigger an upside move towards Rs 1,990 in the near term.