Adani Group gave 3 multibagger stocks since last Diwali. Should you buy or sell?

NEW DELHI: Out of the six stocks that were part of the Adani Group last Diwali, three of them have more than doubled since then. Adani Power has been the top performer in the pack with 3x returns, followed by Adani Total Gas and Adani Enterprises.

Even the worst performer in the pack - Adani Ports and SEZ - gave a double-digit return of nearly 13% and ended up being an outperformer. Headline indices Sensex and Nifty, on the other hand, have lost over 1% of their value since last Diwali celebrated on November 4, 2021.

The two other Adani stocks - Adani Green and Adani Transmission - have impressed with returns of 76.72% and 71.88%.


During the Hindu accounting year Samvat 2078, followed by many traders in the market, Adani Wilmar got listed on the exchanges. The billionaire Gautam Adani-led conglomerate also acquired two listed entities - ACC and Ambuja Cements.

Out of the 22 analysts covering Adani Ports, none of them have a sell rating.

"ADSEZ (Adani Ports) Adani Ports has surprised us and the Street by the pace of new asset additions from the private sector and at reasonable valuations. We see enabling conditions for ADSEZ to replicate the same for government sector projects on offer," domestic brokerage Kotak Institutional Equities said. It has increased its target price on the stock to Rs 900 from Rs 810 on new asset additions and roll-forward.

The average price target of all analysts covering the stock stands at Rs 913, signalling an upside potential of 13%, shows Trendlyne data.

Adani Power, Adani Enterprises, Adani Green Energy, Adani Transmission and Adani Total Gas, on the other hand, hardly have any analyst coverage.

Domestic brokerage firm Ventura Securities had recently given a hold rating for long-term gains on Adani Total Gas.

"With the recently acquired GAs in the 9th, 10th and 11th rounds of CGD auctions, ATGL is expected to grow its CGD network aggressively. Further, with the ambitious target set by the government to increase the share of natural gas in India’s energy basket, there is strong visibility of gas volume growth in the coming years," it had said.

Ventura has a target price of Rs 3,475 for the next 24 months, which signals an upside potential of just 6% from current market prices.

(With data inputs from Ritesh Presswala)

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)