Ahmedabad, June 7 (IANS). Global brokerage firm Jefferies remains bullish on Adani Green Energy, Adani Power and Adani Energy Solutions due to faster capacity expansion, strong demand and strong execution.
In its latest note, Jefferies has given Adani Green Energy Limited a “Buy” rating and a price target of Rs 1,435, which suggests limited upside in the short term but strong growth potential for the company in the long term.
The brokerage firm said the company plans to increase its renewable energy capacity from 19.3 GW in FY 2026 to 50 GW by FY 2030. This includes a 5 GW pumped storage project and a rapid increase in battery storage systems to over 10 GW by FY2027.
Jefferies said large-scale development is underway in Khavra, Gujarat, where 30 gigawatts of renewable energy capacity is being built, which remains a key driver of growth.
Jefferies has maintained its “buy” rating on Adani Power Ltd and set a target price of Rs 255, which suggests an upside of about 11 per cent.
The brokerage firm said the company’s plans to expand capacity to 42 GW by FY2032 and its strong pipeline of long-term power purchase agreements significantly improve its earnings prospects.
The brokerage firm further said that PPAs for about 56 per cent of the upcoming capacity have already been signed and the management aims to complete all the PPAs in future.
For Adani Energy Solutions Limited (AESL), Jefferies has retained “Buy” rating with a target price of Rs 1,665, reflecting its strong position as India’s only listed pure play transmission and distribution company in the private sector.
The brokerage firm said the company is well positioned to take advantage of India’s growing transmission infrastructure and increasing deployment of smart meters.
Jefferies said AESL is executing transmission projects worth Rs 718 billion, while the smart metering business is growing rapidly with over 11 million meters installed by FY26.
The brokerage firm expects Ebitda and profit after tax to grow at a strong double-digit rate in the medium term, driven by execution pace and growing opportunities in data centres, commercial and industrial energy solutions.
–IANS
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