JEFFERIES ADANI GROUP
Stock Radar: Over 200% rally in a year! This multibagger Adani group company is a good buy-on-dips stock; here’s why
The power stock rose from Rs 255 in June 2023 to Rs 874 in June 2024, showing an upside of over 240% in a year. It has been gaining momentum in the past few months, rising over 13% in a week, more than 30% in a month and over 40% in the last 3 months.
Adani Group suffers Rs 3 lakh crore shock as stocks crash up to 20%
Adani Group Stocks: Shares of all 10 Adani Group companies fell as PM Modi's election results showed unexpected outcome, leading to a 20% crash in Adani Ports stock.
Adani group stocks surge up to 6% a day after Lok Sabha election results
Adani group stocks rebounded up to 6% on Wednesday after an initial 15% decline, triggered by election result disappointment. On Tuesday, all 10 Adani companies faced losses, shedding around Rs 3 lakh crore. Global brokerage Jefferies recommends buying Adani Enterprises, Adani Ports, and Adani Energy Solutions.
Stock Radar: Over 200% rally in a year! This multibagger Adani group company is a good buy-on-dips stock; here’s why
The power stock rose from Rs 255 in June 2023 to Rs 874 in June 2024, showing an upside of over 240% in a year. It has been gaining momentum in the past few months, rising over 13% in a week, more than 30% in a month and over 40% in the last 3 months.
Rs 1.4 lakh crore gain! Adani stocks zoom up to 16% as exit polls predict Modi's return
Adani Group stocks soared up to 16% as exit polls predicted a victory for Prime Minister Narendra Modi. The conglomerate's combined market cap rose by nearly Rs 1.4 lakh crore, reaching Rs 19.24 lakh crore. Adani Power surged 16%, while other group entities also saw significant gains, nearing pre-Hindenburg levels.
Adani stocks get rid of Hindenburg stain after 16 months as m-cap nears Rs 2 trillion
Compared to pre-Hindenburg levels, the stock of Adani Power has soared nearly 220%, while Adani Ports has more than doubled in value. ACC, Adani Enterprises, Adani Green Energy, and Ambuja Cements are also trading above pre-Hindenburg levels.
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Gautam Adani is Asia's richest person again; overtakes Ambani on Bloomberg Index with $111 bn net worth
Billionaire Gautam Adani has reclaimed the title of Asia's richest person, surpassing Mukesh Ambani, with a net worth of $111 billion, compared to Ambani's $109 billion. Adani's rise is attributed to a surge in Adani Group stocks following reports of aggressive expansion plans. The Adani Group added ₹1.23 lakh crore in investor wealth, reaching a market capitalisation of ₹17.94 lakh crore intraday. Adani's fortunes had dipped in 2023 after a sell-off due to a probe into allegations, but the Supreme Court later cleared the group.
India bankers brace for IPO surge as election uncertainty lifts
About $3.9 billion has been raised in India via IPOs so far this year, more than double the same period in 2023, and a tally that’s higher than the combined amount raised in South Korea and Hong Kong, according to data compiled by Bloomberg.
Adani surge helps indices break losing streak on eve of exit polls
Adani Group stocks surged up to 9% after brokerage Jefferies recommended buying shares of four companies within the conglomerate in Mumbai.
We remain very positive on capital goods, defence, and manufacturing: Hemant Shah
Notably, multinational companies in this sector, such as those in bearings and chemicals, have posted exceptionally strong numbers. Therefore, we remain very positive on capital goods, defence, and manufacturing.
Jefferies bullish on Adani Group on the back of a renewed expansion spree
Adani Group, rebounding from market losses caused by a US short seller report in early 2023, is now on an "expansion spree," aiming for a USD 90 billion capex over the next decade. Jefferies reports a 40% YoY EBITDA growth, with focus on debt containment and fresh funds. Various Adani companies witnessed significant developments, including acquisitions, power plant commissioning, and renewable energy capacity addition.
Adani Group FY24 profit jumps 55% to cross Rs 30,000 crore. Jefferies likes 3 stocks
Adani Group Stocks: Adani Group's FY24 profit surges by 55% to Rs 30,768 crore post Hindenburg crisis. Jefferies favors Adani Enterprises, Adani Ports, and Adani Energy Solutions, citing robust EBITDA growth and strategic initiatives. Adani Ports set to join Sensex on June 24.
Reliance Jio, Airtel and Vodafone Idea submit applications for upcoming Rs 96,317 crore spectrum auction
India's three private telecom operators, Reliance Jio, Bharti Airtel, and Vodafone Idea, are set to bid for a piece of 5G spectrum worth Rs 96,317.65 crore in the next auction, set to start on June 6. The auction will cover airwaves in various bands, with the government expected to make some selective buying. The auction is expected to be a muted affair, with top telcos having sufficient 5G airwaves for their current needs.
Vodafone Idea raised Rs 5,400 crore from nearly 60 anchor investors
According to sources, institutions such as GQG Partners, UBS, Morgan Stanley Investment Management, AustralianSuper, Fidelity, and domestic mutual funds like Quant and Motilal Oswal were among those that subscribed to the telecom operator's anchor book. Sources indicate that over 70% of the anchor investors are foreign institutions.
GQG Partners' contra bet on Adani Group pays off as investment value doubles to Rs 35,000 cr in a year
Despite initial challenges, Adani Group's stocks saw significant growth post the Hindenburg report. Investments by GQG Partners, under Rajiv Jain's lead, doubled in value. The group's strategic decisions and market developments fueled this remarkable recovery.
It’s hard to be in India and not be excited: Jefferies CEO Richard Handler
On his 1st India trip Handler talks about being the challenger on Wall St and why he’s so upbeat about the franchise’s prospects here in an exclusive interaction
A $2 billion airport will test Modi’s mission, Adani’s ambitions
In many ways, the Adani Group-helmed $2.1 billion project in the satellite city of Navi Mumbai is a microcosm of the massive infrastructure overhaul underway in India as its Prime Minister Narendra Modi seeks to outrun China. For Gautam Adani, it’s a test of whether he can put India on the global aviation map.
Spectrum auction starts May 20, 5G airwaves worth Rs 96,317.65 crore on sale
India's next spectrum auction, scheduled for May 20, will offer airwaves in eight bands worth Rs 96,317.65 crore. The auction includes 5G frequencies in various bands, and companies seeking to purchase spectrum can apply until April 22. The upcoming sale is expected to be muted, with top telcos not requiring additional airwaves for 5G.
Jefferies bets big on Adani Enterprises’ new businesses, sees 20% upside for stock
The flagship company of Adani Group has incubated multiple businesses in ports, power, city gas distribution, transmission, and FMCG over the past decade, and Jefferies believes that the new businesses — Green Hydrogen, Airports, Data Center, Roads, Copper – will emerge as industry leaders in the future.
Market wrap: Property wins big, Adani lags in stellar year for Indian stocks
Robust economic growth, an infrastructure push and a pause in interest-rate increases have helped propel its equity market to successive highs. Stocks related to real estate, industrials and capital goods are among those leading the gains, while Adani Group companies — the heavy hitters of 2022 — are mostly finishing with losses despite a rebound in recent months.
Jefferies sees rising investment banking fee prospects in India after bumper 2023
Global investment banks are increasingly targeting India to generate revenues in Asia as dealmaking activities in China, which has long been an engine of growth for them, slow sharply due to an economic downturn and regulatory uncertainties.
Adani Crisis: Jefferies reiterates Indian banks better placed, but warns of dent in capex cycle
Adani Group has a consolidated gross debt of Rs 2.3 lakh crore and net debt of Rs 2 lakh crore, spread across group companies as of September 22. The top companies by net debt levels are Adani Green Energy, Adani Ports, Adani Power and Adani Transmission with Rs 30,000 crore - Rs 40,000 crore in net debt
SBI's exposure to Adani Group manageable: Jefferies
The bank may also require raising capital with its Common Tier I CAR at 11% (vs min of 7%), but management may look at stake sales in subsidiaries to mobilise capital first," it said.Jefferies has SBI among its sector top picks with a "Buy" rating and a target price of Rs 760, representing an upside of 44%. In an upside scenario, the target price is set at Rs 860, with a potential upside of 61%
Adani crisis not a systemic risk for Indian banking or financial system: Mahesh Nandurkar, Jefferies
“Over a period of time, we have seen that the government doing step by step reducing the tax incentives and reducing the number of instruments and the number of choices that we have to manage personal tax rates. What has happened in insurance is one more step in that direction.”
Gautam Adani: Richest man of Asia in the eye of a storm
Adani, whose home state is Gujarat, built his business empire from scratch after starting as a commodities trader. India's Prime Minister Narendra Modi hails from the same state and their relationship has come under intense scrutiny by Modi's opponents for years.
Adani kicks off $2.45 billion share sale while under short-seller attack
Adani Group has repeatedly faced and dismissed concern about debt levels. It defended itself in a presentation titled "Myths of Short Seller" on Thursday, saying deleveraging by promoters - or key shareholders - was "in a high growth phase".
Jefferies reduces target prices of Adani Ports and Delhivery
Jefferies said Mundra's market share gain success story should be replicated across the acquired ports. "Adani Ports is continuing to move from strength to strength, with market share moving up to 22% from 14% in FY15 and expected to be 31% by FY25E. As core port EBITDA growth remains upward of double digits, backed by volumes, we remain positive on the stock.
Adani pledges stake worth $13 billion in newly acquired ACC, Ambuja Cements
Stakes in two of those companies -- about 57% of ACC Ltd. and 63% in Ambuja Cements Ltd. -- have been encumbered “for the benefit of certain lenders and other finance parties,” according to separate filings made to Indian stock exchanges by Deutsche Bank AG’s Hong Kong branch.
'ACC, Ambuja investors hold mixed views on open offers'
Adani had acquired majority stakes in both the cement companies from Holcim. The mandatory offers by Adani to purchase at least 26% each in ACC and Ambuja Cements will open on August 26 and close on September 9.
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