Adani Enterprises Poised for Over 50% Growth

30 Jan 2024 CW Team

Cantor Fitzgerald & Co. asserts that the Adani Group's flagship company, Adani Enterprises Ltd., holds the potential for a gain exceeding 50%, citing its central role in India's economic aspirations. Analysts Brett Knoblauch and Thomas Shinske, in a note dated Jan. 28, initiated coverage with an overweight rating, deeming the risk-reward ratio attractive at current levels.

The US-based broker set a price target of 4,368 rupees, indicating a 51% upside from Thursday's close, standing as the sole active recommendation on the stock. Adani Enterprises witnessed a surge of up to 5.4%, and other group firms also experienced gains.

Cantor's bullish recommendation is expected to boost confidence in Gautam Adani's conglomerate, which faced a critical report from a US short seller around the same time last year. The collective market value of the Adani companies has more than doubled to $185 billion from a record low of $82 billion in February.

The current valuation of Adani Enterprises primarily stems from its airports, roads, and the new energy segment. Analysts highlight that investors are essentially acquiring ""six other businesses for free,"" contributing over 85% of revenue in the fiscal year ending March 2023, with many currently in an incubation phase.

Despite concerns raised by the Hindenburg report, Cantor notes that the company has taken steps to mitigate liquidity risk and enhance governance and transparency. The analysts argue that, at this juncture, Adani is too substantial to overlook.

Gautam Adani has consistently refuted the fraud allegations presented by Hindenburg, which, at one point, led to a loss of over $150 billion in the group's market value.

Infrastructure Urban

31 Jul 2026

SCLR Extension Nears Completion Linking BKC With Signal-Free Route

The Santacruz-Chembur Link Road (SCLR) extension towards Bandra-Kurla Complex (BKC) via the Mumbai University campus has entered its final stage, bringing motorists closer to a direct, signal-free connection between the Western Express Highway and the city’s commercial district. The elevated connector is being built as an arm from the SCLR alignment and will link the western suburbs with BKC without surface signals. The link is designed to reduce journey times for commuters travelling from the western suburbs to BKC and to improve access to eastern Mumbai. By carrying through traffic above s..

Raiganj MP Seeks Bengal Only Highway Link To Siliguri

Raiganj Member of Parliament Kartik Chandra Paul met Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi to press for a new stretch of national highway in North Dinajpur district. He urged approval for a Bengal-to-Bengal link that would connect National Highways 12 and 27 to allow vehicles bound for Siliguri to avoid the current route through Kishanganj in neighbouring Bihar. He also submitted a proposed alignment of the new road to the ministry for consideration. At present vehicles from Raiganj travel along NH-12 and join NH-27 at Purnia More in Dalkhola, a route that p..

Airport Kilambakkam Metro Line To Be Extended To Chengalpattu

Chennai Metro Rail (CMRL) has invited tenders for two detailed project reports that would extend its rail network to Chengalpattu in the south and extend Corridor-5 to Wimco Nagar in the north as part of a second wave of expansion beyond the operator's corridors under construction. The move signals an acceleration of planning for suburban links and interchange nodes. The larger of the two studies covers a roughly 27km extension from the planned Kilambakkam metro station to Chengalpattu under Corridor-1, Phase I. CMRL floated the tender at an estimated cost of Rs 21.6 mn. The proposed line woul..