All the shares of Adani are seeing a rise today. From enterprises to green, all stocks are seeing strong gains. Adani Green Energy shares are trading above ₹1,100 with a gain of 11.50%. Shares of Adani Energy Solutions are also trading more than 5% higher at ₹968.
Shares of Adani Total Gas are also trading 5% higher at ₹652. Adani Enterprises shares are trading nearly 3% higher at ₹2,566 today. Adani Power shares are trading 2% higher at ₹165.66. Adani Port shares are also trading 2.5% higher at ₹1,453. Adani Cement shares also saw a slight rise. This sudden surge in Adani’s shares has come after the release of quarterly results of many companies. The results of three Adani Group companies, Adani Green Energy, Adani Energy Solutions Limited and Adani Total Gas, have been released.
Brokerage targets on Adani stock
Adani Energy Solutions Ltd reported 2 per cent year-on-year growth in revenue and 14 per cent growth in EBITDA, while adjusted profit grew 20 per cent year-on-year. On a fundamental basis, operating revenue and EBITDA grew by 8 per cent and 10 per cent respectively. ICICI Bank has set a target price of ₹1,127 per share for the company and recommends it as a buy.
After the release of second quarter results, Adani Green Energy’s net profit rose 25 per cent to ₹644 crore in the September quarter, compared to ₹515 crore in the same quarter last year. The company’s revenue stood at ₹3,008 crore, compared to ₹3,005 crore in the same quarter last year. EBITDA rose 17.4 per cent to ₹2,603 crore in the September quarter, while margins improved to 86.5 per cent.
How was the performance of Adani Total Gas?
Adani Total Gas’ net profit declined 11.9 per cent to ₹164 crore in the September quarter, compared to ₹186 crore in the previous quarter. Revenue grew 19.6 per cent year-on-year to ₹1,576.4 crore, compared to ₹1,318.5 crore in the previous quarter. The company’s EBITDA declined by 3.5 percent to ₹295.1 crore. EBITDA margin declined to 18.7 percent.