Adani Enterprises, Adani Power, Adani Energy shares: 10 of 10 Adani stocks down today

Adani Enterprises, Adani Power, Adani Energy shares: 10 of 10 Adani stocks down today

Adani Enterprises were down 2.13 per cent at Rs 3,230 on BSE. Jefferies recently initiated coverage of this stock with a 'Buy' rating. Adani Ports & SEZ fell 1.59 per cent to Rs 1,308.30.

Adani Power fell 2.27 per cent to Rs 553.80 on BSE. Adani Energy Solutions declined 2.89 per cent to Rs 1,089.45. Adani Green Energy shares slipped 2.39 per cent to Rs 1,932.
Amit Mudgill
  • Feb 28, 2024,
  • Updated Feb 28, 2024, 2:25 PM IST

Adani group stocks namely Adani Power Ltd, Adani Enterprises Ltd, Adani Energy Solutions Ltd, Adani Total Gas Ltd and Adani Green Energy Ltd, among others, fell up to 3 per cent in Wednesday's trade amid a broader market weakness.  This is against a 529.02-point, or 0.72 per cent, drop in the BSE benchmark Sensex.

At 1.50 pm, shares of Adani Enterprises were down 2.13 per cent at Rs 3,230 on BSE. Jefferies recently initiated coverage of this stock with a 'Buy' rating and a target price of Rs 3,800, saying the Adani group flagship is an attractive play on capex cycle theme. Jefferies estimated Adani Enterprises' Ebitda to double from FY23 to FY26 and grow 3 times by FY28. 

Adani Ports & SEZ fell 1.59 per cent to Rs 1,308.30. Kotak recently met with the Adani Ports management which is hopeful of improvement in market share from the current levels of 27 per cent and believes increase assets will improve network effects, aiding margins. Marketmen have price targets in the range of Rs 1,280-1,470 on the Adani Ports counter.

Adani Power fell 2.27 per cent to Rs 553.80 on BSE. Adani Energy Solutions declined 2.89 per cent to Rs 1,089.45. Adani Green Energy shares slipped 2.39 per cent to Rs 1,932. Adani Total Gas Limited dropped 2.59 per cent to Rs 1,020.25. Adani Wilmar was down 0.95 per cent at Rs 384.10.

Ventura Securities earlier this month came out with earning reviews on at least four Adani group companies namely Adani Total Gas, Adani Energy Solutions, Adani Green Energy Ltd and Adani Wilmar . The brokerage maintained its positive view on all of the four Adani group names. The domestic brokerage's price targets on three of the four stocks hinted at upside potential ahead. Ventura said it was positive on Adani Wilmar but did not offer any price target on the stock.

Meanwhile, Adani group's cement maker ACC tanked 3.3 per cent while Ambuja Cements slipped 1.66 per cent. NDTV fell 2.47 per cent.

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Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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