Overseas brokerage Jefferies is positive on three stocks from Adani Group namely- Adani Green Energy, Adani Power and Adani Energy Solutions and see up to 30% uspide in them.
Adani Green Energy stock rose 0.62 per cent to hit a high of Rs 1,022.05 apiece on BSE. The scrip has risen 7.69 per cent in the past three months against 8.4 per cent tise rise in the BSE Sensex during the same period.
An analyst from Arihant Capital said that YES Bank is witnessing a retracement of the prior up move from Rs 17 to Rs 23 on the daily charts and is underperforming the benchmark indices.
Adani Enterprises Ltd jumped 2.61 per cent to Rs 2,535.85, while Adani Power advanced 1.69 per cent to Rs 547.15. Adani Ports and Special Economic Zone was up 3.81 per cent at Rs 1,405.80.
Adani stocks: Shares of Adani Group surged as much as 5 per cent during the trading session on Monday amid a slew of positive news flow for the Gautam Adani-led Indian Conglomerate.
In the case of Adani Energy Solutions, Cantor suggested 'overweight' rating, but lowered its 12-month target to Rs 1,690 from Rs 1,978, given the de-rating that has occurred amongst AESL's peer group.
The order is from grid connected solar PV power project to be developed in Rajasthan at a tariff of Rs. 2.57/kWh for 25 years. LOA is for supply of power for 25 years.
With commissioning of this plant, Adani Green's total operational renewable generation capacity has jumped to 12,841.1 MW from 12,591.1 MW last week, the Adani group firm said in a BSE filing.
The Adani Group stock rose over 2% in early deals today after brokerage Macquarie initiated coverage on the firm with an 'outperform' rating.
Gautam Adani, Mukesh Ambani: The seven billionaires were together worth $309.80 billion at last count. They have lost $33.98 billion in fortunes this calendar so far.
An analyst from YES Securities said that Adani Green has experienced a significant decline of 63 per cent from its peak of Rs 2,091 over the past five months, entering oversold territory.