From Hindustan Times: 2024-05-31 08:36:32

1. Adani Group stocks, led by Adani Power and Adani Total Gas, surged in today’s trading session, hitting new highs. This rally was attributed to positive sentiment from Jefferies, highlighting the conglomerate’s recovery from past controversies and plans for significant capex.

2. Adani Group focused on debt containment and reducing founders’ share pledge in FY23-24, per Jefferies report. Key developments include EBITDA growth of 40% and a 55% surge in profit after tax. Net debt remained stable at ₹2.2 trillion, with the commissioning of the ingot wafer unit.

3. Jefferies initiates coverage on Adani Enterprises, HAL, and more, giving ‘buy’ ratings to three Adani Group stocks. Adani Enterprises scaling up green hydrogen production, Navi Mumbai Airport to be commissioned soon, and Adani Ports benefiting from logistics potential and recent developments.

4. Adani Energy Solutions strategically managing debt with a focus on debt refinancing aligned with asset life. Investors advised to consult certified experts before making any investment decisions, as the views and recommendations in the article are those of individual analysts.



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