Jefferies sees re-rating potential for India's Adani Energy Solutions
BUZZ-Jefferies sees re-rating potential for India's Adani Energy Solutions ** Jefferies maintains "buy" on Adani Energy Solutions ADAI.NS with PT of 2,060 rupees, sees improving visibility and re-rating potential in co's power trading business
** AESL's unit on Tuesday signed a 25-year agreement to supply 2,500 MW of round-the-clock power to Maharashtra State Electricity Distribution Co
** Jefferies estimates deal will raise share of trading volumes tied up with customers to 57% in FY28 from 20% at end-Q1 FY27, making trading EBITDA more sustainable
** Brokerage sees scope for re-rating of trading business as more volumes are tied up and earnings volatility reduces
** Shares of ADAI down 0.94% at 1,405.80 rupees
** YTD stock up 36.92%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Recent news on Adani Energy Solutions
See all newsIndia's Adani Energy slides as margin pressure overpowers profit surge
India's Adani Energy Solutions Q2 profit more than doubles on tax gain, higher sales
Brief: Adani Energy Solutions Q2 Consol Net Profit 13.23 Billion Rupees
India's market regulator disposes of proceedings against Adani Group companies on public-float violations
Brief: India Markets Regulator Disposes Proceedings Against Adani Group Companies And Gautam Adani In Case Public Float Violations