Limited coverage: Few analysts track Adani group companies, shows data

The coverage of Adani group among analysts is currently lower than that of other industrial groups. An analysis of available Bloomberg data on coverage shows that it is a single-digit number for every Adani group company except for Adani Ports, which has 26 analysts covering it.

The Adani group has five listed entities, and the median number of analysts covering the group is one, lower than that of other large groups. The Tata group has 15 analysts tracking it per company. It is 23.5 for the AV Birla group. The Mukesh Ambani group also has a similar number to Adani (a median of 1.5 analysts per group company), though Reliance Industries has 37 analysts tracking it.

The rest have between zero and three analysts per company. The analysis looked at the seven most valuable business groups with at least four listed companies . The surge in Adani’s market capitalisation is relatively recent. It is up nearly 30 per cent since March 2021. This makes it the best performing of the business groups in that time period.