Analysts at ICICI Securities downgraded Adani Green and Adani Energy to 'Add' rating post Q4 results, citing a sharp rally in the share prices.
Adani Energy posts marginal Q4 profit growth, with income up 15%, as strong transmission and smart metering businesses drive full-year performance
ABB India, Samvardhana Motherson International and Adani Power from the Nifty Next 50 index surged in the range of 5 per cent to 8 per cent in intra-day deals on Wednesday.
Adani Group shares rallied up to 3% in Wednesday's intra-day trade, and have outperformed the market thus far in April with gains up to 19 per cent.
Kunal Kamble, sr. technical research analyst at Bonanza, has recommended buying shares of Adani Energy Solutions, Titan Company, and APL Apollo Tubes today
Kunal Kamble, technical analyst at Bonanza expects Adani Power to test ₹200 on the upside in the long-term, and Adani Energy Solutions to test ₹1,400 levels.
JM Financial assigned a 'Buy' rating on Adani Energy and a target price of ₹1,199, an upside of 23 per cent from Monday's closing price