Adani Shares: The global economy has been under pressure this year so far into 2022. Rising inflation and geopolitical tensions have sparked panic among investors around the world. It has also impacted the Indian stock market. However, the Indian stock market still looks strong compared to the stock markets of other developing countries. During such times, Adani Group’s stock has provided multi-dredging returns for investors who seem to ignore the lack of analyst coverage and skyrocketing valuations.
Adani Power
Adani Power shares are one of the multibagger shares in 2022 in the Indian stock market. In YTD time, Adani Power’s share price has risen from about Rs 101 to Rs 270 apiece on NSE, rising about 165 percent in 2022. However, this multibagger Adani stock has a history of delivering astonishing returns to its shareholders. This multibagger stock is in the consolidation phase after ushering in June 2022. In the past month, Adani Power’s share price has fallen from about Rs 340 to Rs 270 apiece, dropping about 20 percent during this period. In YTD time, this Adani group share is up about 165 percent while this multibagger Adani stock has risen from about Rs 100 to Rs 270 in the past six months, yielding a return of nearly 170 percent for its shareholders . Likewise, if an investor had invested Rs 1 lakh in this multibagger Adani stock a year ago, its Rs 1 lakh would have turned into Rs 2.35 lakh today. Likewise, if an investor had invested Rs 1 lakh in this stock four years ago, his Rs 1 lakh would have become Rs 17 lakh today.
Adani Wilmar
Edible oil company Adani Wilmar, owner of the oil brand Fortune, is the newest multi-dredging company of the Adani group. It was listed on February 8 of this year. Compared to the issue price of Rs 230, the stock has delivered a nice gain of 158 percent so far.
The company came up with an IPO in February 2022. It is now trading at around Rs 560. That is, Adani Wilmar’s IPO has given investors a return of more than 142 percent of the IPO price. This share of Rs 230 has also reached the level of Rs 878. However, large-cap stock has lost 37 percent from its all-time high on earnings posting, fourth-quarter profit impact and Indonesia lifting a ban on palm oil exports.
In mid-May, ICICI Securities started covering the Adani Wilmar stock with a ‘Hold’ rating and a SoTP-based target of Rs 550. The brokerage expects the edible oil business to see volume growth of 10 percent CAGR over FY22 – 24E (including the impact of the Bangladesh acquisition).
“In FY23E, we expect 11 percent volume growth with some benefit from the full-year consolidation of Bangladesh – noting that Bangladesh’s business is primarily in the edible oil segment. For FY24E, we expect 9.0 percent volume growth in the edible oil business,” it said.
The expert opinions and investment tips in this News18.com report are their own and not the website’s or its management. Users are advised to contact certified experts before making any investment decisions.
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