Motilal Oswal initiates coverage on India's Adani Enterprises at 'buy'

Adani Enterprises

27/08/2026 08:16

** Motilal Oswal initiates coverage on Indian integrated infrastructure company Adani Enterprises ADEL.NS at "buy" with TP of 3880 rupees
** ADEL last up 1.2%
** Brokerage says co's EBITDA expected to rise to 299 billion rupees by FY29, from 140 billion rupees in FY26
** Adds, growth to be driven by commissioning of Navi Mumbai Airport, capacity expansion at Adani New Industries, tolling commencement at key road projects
** Says co "uniquely positioned" to benefit from India's next capex cycle due to exposure to sectors including airports, data centers, and new energy
** Adds, co's portfolio moving from capital deployment to value creation as airports, green energy and data centers enter inflection phase, and mature businesses generate cash
** All 3 analysts covering stock rate it "buy" or "strong buy"; median PT is 3744 rupees
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))