3 weeks ago

Adani Green shares down 16% from high; analysts bullish

Adani Green shares down 16% from high; analysts bullish
Adani Green shares down 16% from July high; is it time to buy this Adani stock? Targets · businesstoday.in

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.

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

Sources

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