Adani Group shares advanced on Thursday as investors weighed recent quarterly results and brokerage calls. The Economic Times reported gains of up to 3% and a Rs 23,000 crore (Rs 230 billion) increase in the group’s combined market value. Business Upturn reported Adani Ports and Special Economic Zone (APSEZ) up 2.94%, Adani Enterprises up 2.59% and Adani Green Energy up 2.40% at 12:44 a.m. ET (04:44 UTC).
APSEZ reported revenue of Rs 11,340 crore (Rs 113.4 billion) for the quarter ended Sept. 30, up 24% year over year, while EBITDA rose 23% to Rs 6,807 crore (Rs 68.07 billion). The company also raised its FY27 revenue guidance to Rs 44,000–46,000 crore and its EBITDA guidance to Rs 26,000–27,000 crore, increasing each range by Rs 1,000 crore.
Adani Power reported Q2 profit after tax of Rs 7,019.32 crore (Rs 70.19 billion), up 141.5% from a year earlier. That reported gain included Rs 2,422.25 crore (Rs 24.22 billion) in prior-period revenue recognition, primarily tied to revisions in historic energy charges under certain power purchase agreements. On a continuing basis, EBITDA rose 18.5% to Rs 6,320.97 crore.
Adani Green Energy reported a 51% increase in Q2 power-supply EBITDA to Rs 3,835 crore (Rs 38.35 billion), with power-supply revenue up 45% to Rs 4,019 crore (Rs 40.19 billion). Adani Enterprises, by contrast, recorded a 55% drop in profit after tax attributable to owners, to Rs 1,492 crore, although total income rose 74% and EBITDA rose 62%. The prior-year quarter included a Rs 3,583 crore exceptional item.
Brokerage calls were also cited in coverage of the rally. The Economic Times and NDTV Profit reported that Jefferies retained a Buy rating on APSEZ and raised its target price to Rs 2,180 from Rs 2,160.
