Jefferies bullish on 3 Adani stocks as group EBITDA jumps 45%

New Delhi: Adani Group reported a 45 per cent jump in EBITDA to Rs 82,000 crore in full-year FY24 as the ports-to-retail conglomerate’s net profit surged 71 per cent to Rs 40,129 crore and its cash balance stood at nearly Rs 60,000 crore. Brokerage Jefferies analysed the group’s FY24 earnings to recommend buying 3 stocks from the Adani group stable.

Jefferies’ BUY call on Adani stocks

Jefferies is bullish on Adani Enterprises, Adani Energy Solutions and Adani Ports, praising the latter for reporting a strong surge in market share. Adani Energy is expected to witness a combined annual revenue growth of 16 per cent and a 32 per cent CAGR EBITDA during FY24-27 backed by a surge in power transmission, distribution and smart-metering.

Adani Group reported a 40 per cent surge in EBITDA to Rs 660 billion in FY24 backed by a doubling of Adani Power’s EBITDA.

 US brokerage Jefferies gave a BUY call on 3 Adani Group stocks as the EBITDA of the larger Adani Group surged 40 per cent to Rs 80,000 crore back by EBITDA outperformance of underlying stocks.  Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today