3 weeks ago
Adani Green shares down 16% from high; analysts bullish
A company called Adani Green makes clean energy from the sun and wind.
Its stock, which is a tiny piece of the company that people can buy, has become a bit cheaper lately.
It dropped about 16 percent from its highest price this year.
But the stock is still worth much more than it was at the start of the year.
Experts who study companies think this dip could be a good time to buy.
One expert thinks the stock could go up to 1,704 rupees per share.
Another expert believes it could reach 1,650 rupees.
They expect the company to grow by building many new clean energy projects.
However, they also warn that delays in sending electricity through power lines could be a problem.
Adani Green shares are down about 15-16% from their 52-week high of Rs 1,631.35.
The stock is up 33.55% year-to-date, while the BSE Sensex has fallen 6%.
Axis Capital initiated coverage with a BUY rating and a target price of Rs 1,704 per share.
Emkay Global set a target price of Rs 1,650, citing AGEL's de-risked pipeline and strong capital management.
Axis Capital flagged transmission delays as a key risk and expects net debt to EBITDA to improve to 4.7 times by FY32.
- Who
- Adani Green Energy (AGEL) and analysts at Axis Capital and Emkay Global
- What
- Adani Green shares fell about 15-16% from their 52-week high, even as brokerages initiated coverage with buy ratings and higher target prices
- Where
- Indian stock market, benchmarked against the BSE Sensex
- When
- Recent market trading, following the stock's July high
- Why
- Analysts see a de-risked renewable pipeline and growth prospects, despite risks such as transmission delays
Key facts
- Company
- Adani Green Energy (AGEL)
- 52-week high
- Rs 1,631.35
- Drop from high
- About 15-16%
- Year-to-date gain
- 33.55% (vs 6% drop in BSE Sensex)
- Axis Capital target price
- Rs 1,704 (BUY)
- Emkay Global target price
- Rs 1,650
- Estimated capex requirement
- Rs 2.1 lakh crore (Axis Capital)
- Net debt to EBITDA (FY32 est.)
- 4.7 times
Quotes
Emkay Global spokesperson
Representative of Emkay Global
“The improving credit profile should provide further headroom to fund the planned capex while maintaining balance‑sheet flexibility.”
businesstoday.in
“Our SOP based Sep-27 TP is ₹1,704/share (implying 13.5x FY31 run rate EV/EBITDA). Initiate with BUY.”
businesstoday.in









