Adani Group: Adani Group has become the third conglomerate in India to have more than $200 billion market capitalisation. It achieved this milestone after the shares of five of the group’s seven listed companies hit all-time highs on Thursday.
Analysts said the strong rally in the shares of Adani Group companies was mainly due to growth and diversification in several of its businesses. This can have an effect on their earnings in the future.
Shares of Adani Group gave strong returns this year
So far this year, 157 per cent in Adani Power, 50 per cent in Adani Total Gas, 67 per cent in Adani Green Energy, 51 per cent in Adani Transmission, 17 in Adani Ports and SEZ. Percentage and Adani Enterprises has registered a strength of 28 percent.
While Adani Wilmar Ltd. (Adani Wilmar) was listed in February this year with an issue price of Rs 230. Since then its stock has gained 180 per cent.
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Tata Group has the highest market cap, Reliance at number two
According to BSE data, the total market cap of the Adani Group’s seven listed companies has reached $ 201 billion. Earlier, the Tata Group and Mukesh Ambani-led Reliance Group have achieved this feat. The current market cap of the Tata Group is $320 billion, while the RIL Group is valued at $237 billion at the current market price.
Five companies of the Adani Group have a market cap of more than Rs 1 lakh crore, while two companies Adani Power and Adani Wilmar have a market cap of Rs 98,000 crore and Rs 82,000 crore, respectively.
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business improvement
Santosh Meena, Head of Research, Swastika Investmart, said, “The current business is in growth phase and far from showing its full potential. Therefore, improving future growth prospects and profitability could be one of the reasons for increasing investor interest.”
“Investors are betting that this group will be a major beneficiary of India’s growth story,” he said. Adani Group had entered into many businesses like Transmission, Renewable Energy, City Gas Distribution etc., which have now become big business. Its main emphasis is on airports, data centers, solar manufacturing, roads, defense and green business.
Analysts said that the fundamentals of some existing businesses have improved, while others have announced their entry into emerging areas.
Vineet Bolinjkar, Head of Research, Ventura Securities, said, “We believe that the benefits of future growth prospects have been passed on to the stocks and the value of the stocks has improved.