Several Adani Group stocks traded lower on Monday even as the broader Indian equity market moved higher, with easing crude oil prices supporting overall investor sentiment. Adani Total Gas, Adani Ports and Adani Power were among the group stocks trading in the red, while Adani Green Energy, Adani Energy Solutions and Adani Enterprises advanced.
The Sensex was trading 478.05 points or 0.64% higher at 74,773.01, while the Nifty stood at 23,404.65, up 58.25 points or 0.25% at the time of writing.
The decline comes on profit booking after the Adani Group counters had gained attention last week after global brokerage Jefferies highlighted growth opportunities across the conglomerate’s energy, power, transmission and ports businesses.
Adani Total Gas had rallied more than 12% on Friday, while Adani Energy Solutions, Adani Ports, Adani Green Energy and Adani Power also gained following the brokerage’s commentary.
Here is how the key Adani Group stocks were performing:
Adani Total Gas: Down 5% at ₹629.30
Adani Ports: Down 2% at ₹1,766.70
Adani Power: Down 0.7% at ₹207.25
Adani Green Energy: Up 1.5% at ₹1,333.95
Adani Energy Solutions: Up 1.1% at ₹1,431.80
Adani Enterprises: Up 0.5% at ₹3,015
Indian stock markets today
The mixed movement across Adani Group stocks came despite a broader recovery in Indian equities. Crude oil prices eased on Monday, with Brent crude futures falling 2.2% to $101.6 per barrel as investors watched for a recovery in shipments from Saudi Arabia.
Lower crude prices supported the broader market as investors assessed developments around oil supplies and geopolitical tensions. Meanwhile, Asian markets also traded higher. Semiconductor stocks gained as continued demand linked to artificial intelligence supported the technology sector. The MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3%, while South Korea’s tech-heavy Kospi advanced 1.1%.
Adding to the positive sentiment, foreign institutional investors turned net buyers in Indian equities on Friday after seven consecutive sessions of selling, purchasing shares worth ₹599 crore. Domestic institutional investors also remained buyers, investing more than ₹1,000 crore during the session.
Jefferies on Adani Group Stocks
For Adani Energy Solutions, Jefferies highlighted the company’s transmission opportunity, smart-meter rollout and trading business as important growth drivers. The company reiterated its medium-term annual capital expenditure run-rate guidance of ₹20,000-25,000 crore. The brokerage expects revenue and EBITDA to grow at CAGRs of 22% and 29%, respectively, between FY26 and FY30.
Meanwhile, on Adani Green Energy, Jefferies said management remained confident of adding 5 GW of capacity in FY27E. The company is aligning capacity additions with transmission infrastructure to reduce curtailment risk, while its battery energy storage capacity is targeted to rise from 3.6 GWh currently to more than 10 GWh by FY27E. Jefferies expects capacity to reach 44 GW by FY30E, compared with the company’s 50 GW target.
For Adani Power, management reiterated its plan to expand capacity by 2.5 times to 45 GW by FY32. Of the upcoming 23.7 GW capacity, 56% is already tied up through long-term power purchase agreements, while the company aims to secure PPAs for the entire pipeline. Jefferies expects EBITDA to grow at a 22% CAGR between FY26 and FY30 and sees the company turning free-cash-flow positive by FY30.
Meanwhile, Adani Ports remains focused on its target of handling 1 billion tonnes of cargo by 2030, supported by domestic and international port expansion. Jefferies expects volume growth of 13% CAGR, compared with the management target of 16%, and sees the company potentially becoming net cash positive by FY31.
(with inputs from agencies)
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