India's Adani Energy Solutions climbs; Elara Capital starts with 'buy'

Adani Energy Solutions

21/02/2025 05:46

** Shares of Adani Energy Solutions  ADAI.NS  up 0.63%, after
rising as much as 2.6% earlier in the session
    ** Brokerage Elara Capital initiates the stock with "buy"
and price target of 930 rupees - a 37% premium on last close
    ** ADAI is set to post robust growth in transmission,
distribution and smart meters businesses over the next few years
- Elara
    ** Adds, transmission segment EBITDA will likely double by
FY27, driven by India's renewable energy targets and co's
healthy projects pipeline
    ** Says co dominates smart meters sector with 17% market
share and will sustain EBITDA margin of 85% in the segment
    ** Avg rating of four brokerages, excluding Elara is a
"strong buy" with median PT at 1,291 rupees - LSEG data
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))