Adani stocks: The investment covers renewable energy, cement, data centers, and city gas distribution, and it will create 10,300 job opportunities. Most Adani Group stocks rose in the afternoon trade on January 9, with Adani Ports reaching a 52-week high after the conglomerate announced plans to invest Rs 42,768 crore in Tamil Nadu. During a global investors meeting on January 8, the port-to-power group signed memorandums of understanding (MoUs) with the Tamil Nadu government for investments in renewable energy, cement, data centers, and city gas distribution.
Adani Green plans to invest Rs 24,500 crore, Company Connex Rs 13,200 crore, Ambuja Cements Rs 3,500 crore, and Adani Total Gas & CNG Rs 1,568 crore in the state. The investments will also create 10,300 jobs, according to the group. Adani Ports Enterprises, Power, Energy Solutions, Total Gas, andGreen Energy all saw 1-3 percent gains.
Motilal Oswal Financial Services has named Adani Ports and SEZ as its top investment picks for 2024. It expects volume growth in the mid-teens during FY23-26, which will help the company achieve its goal of becoming India’s largest integrated transport utility and the world’s largest private port by 2030.
The brokerage reiterated its “buy” rating on the stock, with a price target of Rs 1,410, implying a more than 20% increase. As this Ports strives to become India’s largest integrated transport utility company by 2030, it is expanding its capabilities across all logistics segments (ports, warehousing, last-mile delivery, etc.). As a result, it provides end-to-end service to its customers, capturing a larger wallet share and making the cargo sticky in nature, MOFSL stated in a report.
