Adani group stocks in focus; Enterprises, Power, Green Energy gain up to 4%

Gautam Adani, Chairman of the Adani Group, has announced the launch of Adani Health City integrated health campuses, to be implemented through the Group's not-for-profit healthcare arm

Shares of Adani Group companies are in focus and trading higher by up to 4 per cent on the BSE in Tuesday’s intra-day trade in an otherwise weak market.

 

Shares of Adani Enterprises, the flagship company of Adani Group, were up 4 per cent, at Rs 2,388.95 in intra-day trade today. Adani Power, Adani Green Energy, Adani Energy Solutions and Adani Ports and Special Economic Zone were up in the range of 1 per cent to 3 per cent on the BSE. In comparison, the BSE Sensex was down 0.4 per cent at 77,020, at 09:58 AM.

 

However, in the past one year, Adani Group stocks have underperformed the market by declining up to 47 per cent, compared to the 8 per cent rise in the BSE Sensex during the period.

 

Gautam Adani, Chairman of the Adani Group, has announced the launch of Adani Health City (AHC) integrated health campuses, to be implemented through the Group’s not-for-profit healthcare arm.

 

Adani Group will spend Rs 6,000 crore in setting up two 1,000-bed multi-specialty hospitals and medical colleges in Mumbai and Ahmedabad in partnership with Mayo Clinic. The expenditure is part of the Rs 10,000 crore amount that Gautam Adani, chairman of Adani Group, had pledged to donate at his younger son, Jeet Adani's wedding last week.

 

Adani Group has engaged USA's Mayo Clinic, the world's largest integrated not-for-profit medical group practice, to provide strategic advice on organisational objectives and clinical practices at these establishments. Mayo Clinic will also offer expert guidance on the integration of technology, with a focus on digital and information technology and healthcare quality enhancement. CLICK HERE FOR RELEASE

 

Meanwhile, Adani Enterprises (AEL) is one of India’s largest listed incubators. It has conceived, grown, matured and demerged many successful businesses, including Adani Ports & SEZ, Adani Total Gas, Adani Energy Solutions, Adani Green Energy (AGEL), Adani Power and Adani Wilmar.  The company is currently incubating airports, manufacturing of solar modules & WTGs (wind turbine generators), green hydrogen, road construction, data center, and copper production, among other initiatives.

 

AEL is targeting Rs 6.5-7.0 trillion in capex over the next decade for its expansion into airports, data centers, copper production and green H2, & its ecosystem. This is expected to be primarily funded through debt, leading to an increase in the company's net debt-to-equity and net debt-to-Ebitda from 1.2x/1.7x in FY24 to 1.8x/2.2x by FY27E, according to Ventura Securities.

 

In view of the Indictment and civil suit filed by the United States Department of Justice (DoJ) and United States Securities and Exchange Commission (SEC) on Gautam Adani, chairman of AGEL, who also heads AEL, and its impact on large-sized capex as well as fundraising plans of AEL, in December 2024, CARE Ratings revised the ratings outlook on the company to stable from positive.  However, in the medium-term, financial flexibility is supported by prospective equity dilution in one of the listed group entity, Adani Wilmar, besides the strong monetisation potential in airports and road segments, the rating agency had said.