Adani Group Stock Hits Fresh All-Time High, Stock Surges 111% in 6 Months; Do you Own?

Adani Enterprises Share Price Today: Adani Enterprises Ltd. shares continued its rally, and surged over a per cent on the BSE in Friday’s early deals to hit a fresh all-time high level of Rs 3,506 apiece. The stock is being included in the benchmark Nifty 50 index this month. As part of the index rejig, Adani Enterprises will replace Shree Cement. These changes will be effective from September 30, 2022.

The Index Maintenance Sub-Committee – Equity (IMSC) of NSE Indices Limited has decided to make the changes as a part of its periodic review, a release said on Thursday. Adani Enterprises, the flagship Gautam Adani Group company, is one of the fastest growing diversified businesses that provide an extensive range of products and services. The company operates as an incubator, establishing new businesses in transport and logistics, and energy & utility sectors, apart from increasing focus on direct-to-consumer businesses.

AEL is leading decarbonization initiative of industries and mobility through Adani New Industries Limited (ANIL). Other next-generation of AEL’s strategic business investments are centered around airport management, roads, data center and water infrastructure, which has significant scope for value unlocking.

Stock Price History

So far in 2022, the stock has nearly doubled investors’ money. The stock has given multibagger returns of over 103 per cent in 2022 (YTD) and has gained over 111 per cent in the last six months. The stock has gained 127.08 per cent in YTD this year.

Financials

The company’s attributable net profit increased by 73 per cent to Rs 469 crore in the first quarter ended June of the current financial year whereas its consolidated revenue surged by 223 per cent year-on-year (YoY) to Rs 41,066 crore for the quarter ended June 30, 2022, on the back of strong performance by integrated resources management (IRM) and airport business.

The company’s EBIDTA jumped by 107 per cent to Rs 1,965 crore due to full consolidation of airports business and improved realisations in IRM business. During the first quarter of the current financial year, the company completed Rs 7,700 crore primary equity transaction with Abu Dhabi-based International Holding Company (IHC) for 3.5 per cent stake.

“AEL’s high growth lays the foundation for us to accelerate the continued development of new businesses like data centres, airport ecosystems, road and water infrastructure, defence and aerospace, and digital technology services. Through our partnership with TotalEnergies in ANIL, we have also begun our journey to become the world’s largest player in green hydrogen,” Gautam Adani, Chairman of Adani Group, had said in a statement.

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