Adani Enterprises gets a fresh buy call, check target price

Brokerage firm Motilal Oswal Financial Services (MOSL) has initiated coverage on Adani Enterprises with a ‘buy’ rating and a target price of ₹3,880 per share, citing multiple growth triggers across the company’s diverse infrastructure and incubation businesses. That’s 25% above Wednesday’s closing price.

However, in the best case scenario, the stock could up to ₹4,500, the report added.

The Gautam Adani group’s flagship company is perceived as a play on the massive infrastructure expansion in India, including several high-growth sectors like airports, roads, data centres, new energy, mining, copper, and strategic manufacturing.

Several large projects of the group are reaching operational milestones. Key catalysts include the commissioning of the Navi Mumbai International Airport, capacity expansion in the group’s new energy businesses under Adani New Industries Ltd. (ANIL), the commencement of toll collections on major road projects, and continued momentum across the company’s established businesses.

It may lead to a period of accelerated earnings expansion. The consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) may nearly double to ₹29,900 crore by March 2029 from ₹14,000 crore in FY26, analysts at Motilal Oswal projected.

The brokerage also noted that Adani Enterprises’ incubation model, under which it develops and scales new businesses before they mature into standalone growth platforms, positions it well to benefit from emerging opportunities across sectors.

Click here for the latest updates from the stock market.