Key Points
Adani Enterprises Ltd. is at the core of everything India wants to accomplish, analysts Brett Knoblauch and Thomas Shinske wrote in a note dated Jan. 28, initiating coverage as overweight..
Cantors buy recommendation will further bolster sentiment on billionaire Gautam Adanis conglomerate that was hit by a US short sellers scathing report around the same time last year..
Adani Enterprises current valuation is largely driven by its airports, roads and the new energy segment, and investors are effectively getting six other businesses for free, the analysts said..
These contributed more than 85% of revenue in the fiscal year ended March 2023, and many are currently in incubation phase, they said.. While the Hindenburg report highlighted serious concerns, the company has taken actions to reduce liquidity risk, improve governance and transparency, Cantor said..
At this juncture, we believe Adani is a bit too big to ignore, they said.. Adani has repeatedly denied Hindenburgs allegations of fraud, which had wiped off more than $150 billion from the groups market value at one point..
