Four Adani group stocks namely Adani Enterprises Ltd, Adani Ports & SEZ, Adani Transmission Ltd, Adani Green Energy Ltd will in focus in Friday's trade after GQG Partners emerged as the buyer in the Rs 15,446 crore stake sale by SB Adani Trust. The transaction took place via block deals on Thursday morning.
GQG Partners bought 38,701,168 shares of Adani Enterprises at Rs 1,410.86 apiece for Rs 5,460 crore. It purchased 88,600,000 Adani Ports shares at Rs 596.20 apiece for Rs 5,282 crore. In Adani Transmission, it bought 28,400,000 shares at Rs 668.40, totalling Rs 1,898 crore. Besides, it bought 55,600,000 shares of Adani Green Energy at Rs 504.60, valuing Rs 2,806 crore.
GQG Partners, which manages $130 billion in assets as of January 31, bought a total of 1.87 billion shares from SB Adani Trust. Jefferies India acted as a sole broker for the transaction.
The total market valuation of 10 Adani group companies stood at Rs 7.86 lakh crore as of Thurdsay's closing. Overall, Adani group has seen a jump of Rs 74,302 crore in market cap over the last two trading session.
Adani group stocks to buy
ICICIdirect has two Adani group stocks as its top March picks. It has a target of Rs 800 on Adani Ports and Rs 500 on Ambuja Cements.
"Adani Ports is backed by strong FCF generating assets (14 ports, 81 trains, 9 MMLPs, 1.4 million square feet warehousing, 620 kms of rail tracks etc) with a 15 per cent-plus RoCE. Further it has a comfortable debt to equity ratio close to 1. We have valued Adani Ports on SOTP basis with a target price of Rs 800," it said.
On Ambuja Cements, ICICIdirect said that the new management is planning to increase consolidated capacity (including ACC capacity of 36.1 MT) to 140 million tonne in next 5 years. Over the past five years, the company has lost its market share to other large players with no major new capacities coming in place during this period, it noted,
"With the aggressive new promoter, we now expect volume growth to get ramped up, going ahead. Also, the group’s exposure into energy and logistics will help them to improve cost dynamics and gain supply chain efficiencies. Overall, as per our rough estimates, we expect cost savings of Rs 300-350 per tonne from the current run rate. Company continues to have a strong balance sheet having debt free status," it noted.
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