Adani Enterprises shares hit one-year high; is more steam left?
Morgan Stanley recently initiated coverage on Adani Enterprises with an 'Overweight' rating and assigned a target price of Rs 3,638.
- Jun 25, 2026,
- Updated Jun 25, 2026 10:41 AM IST
Shares of Adani Enterprises Ltd climbed 1.14 per cent to hit a fresh 52-week high of Rs 3,103.50 in Thursday's early trade. At last check, the stock was up 0.29 per cent at Rs 3,077.30, taking its six-month gain to 37.88 per cent.
Morgan Stanley recently initiated coverage on Adani Enterprises with an 'Overweight' rating and assigned a target price of Rs 3,638.
Sharad Avasthi, Head - PCG Research at SMIFS, noted, "From current levels, we do not see significant upside over the next 12 to 18 months. However, from a longer-term perspective of three to five years, the flagship Adani Group stock could still offer meaningful upside potential."
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "There is significant embedded value in Adani Enterprises, although the stock appears fully priced at current levels. From a medium- to short-term perspective, investors can consider accumulating on dips and booking profits on rallies. However, the long-term outlook remains attractive due to the company's portfolio of incubating businesses, including data centres, defence and airports. As a holding company with several valuable growth ventures, Adani Enterprises offers substantial long-term potential. Therefore, I would prefer to accumulate the stock on declines from a long-term investment perspective."
Virat Jagad, Senior Technical Research Analyst at Bonanza, said, "Adani Enterprises remains in a strong uptrend, trading above all key EMAs, which confirms sustained bullish momentum. The stock continues to form higher highs and higher lows near its 52-week high territory, reflecting a healthy price structure. Volume participation has remained supportive during the advance, indicating continued buying interest."
He added, "Fresh positions can be considered above Rs 3,060 with a stop loss at Rs 2,930 and upside targets of Rs 3,200 and Rs 3,350. Existing holders may continue to hold the stock with a trailing stop loss at Rs 2,900. As long as the price sustains above its short-term EMA support, it can potentially move towards Rs 3,200, Rs 3,350 and Rs 3,500."
Meanwhile, Adani Portfolio said that it delivered the highest annual capital expenditure (capex) by any Indian corporate in FY26, investing Rs 1,52,967 crore ($16.1 billion) across its businesses.
According to the ports-to-energy conglomerate's statement, its asset base expanded to Rs 7,85,098 crore ($82.2 billion) during the fiscal year.
The portfolio reported an all-time high EBITDA of Rs 94,834 crore ($10 billion) in FY26, marking a 5.6 per cent year-on-year (YoY) increase. Core infrastructure businesses accounted for 87 per cent of total earnings.
During the last financial year, Adani Enterprises raised Rs 24,930 crore through a rights issue.
Shares of Adani Enterprises Ltd climbed 1.14 per cent to hit a fresh 52-week high of Rs 3,103.50 in Thursday's early trade. At last check, the stock was up 0.29 per cent at Rs 3,077.30, taking its six-month gain to 37.88 per cent.
Morgan Stanley recently initiated coverage on Adani Enterprises with an 'Overweight' rating and assigned a target price of Rs 3,638.
Sharad Avasthi, Head - PCG Research at SMIFS, noted, "From current levels, we do not see significant upside over the next 12 to 18 months. However, from a longer-term perspective of three to five years, the flagship Adani Group stock could still offer meaningful upside potential."
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said, "There is significant embedded value in Adani Enterprises, although the stock appears fully priced at current levels. From a medium- to short-term perspective, investors can consider accumulating on dips and booking profits on rallies. However, the long-term outlook remains attractive due to the company's portfolio of incubating businesses, including data centres, defence and airports. As a holding company with several valuable growth ventures, Adani Enterprises offers substantial long-term potential. Therefore, I would prefer to accumulate the stock on declines from a long-term investment perspective."
Virat Jagad, Senior Technical Research Analyst at Bonanza, said, "Adani Enterprises remains in a strong uptrend, trading above all key EMAs, which confirms sustained bullish momentum. The stock continues to form higher highs and higher lows near its 52-week high territory, reflecting a healthy price structure. Volume participation has remained supportive during the advance, indicating continued buying interest."
He added, "Fresh positions can be considered above Rs 3,060 with a stop loss at Rs 2,930 and upside targets of Rs 3,200 and Rs 3,350. Existing holders may continue to hold the stock with a trailing stop loss at Rs 2,900. As long as the price sustains above its short-term EMA support, it can potentially move towards Rs 3,200, Rs 3,350 and Rs 3,500."
Meanwhile, Adani Portfolio said that it delivered the highest annual capital expenditure (capex) by any Indian corporate in FY26, investing Rs 1,52,967 crore ($16.1 billion) across its businesses.
According to the ports-to-energy conglomerate's statement, its asset base expanded to Rs 7,85,098 crore ($82.2 billion) during the fiscal year.
The portfolio reported an all-time high EBITDA of Rs 94,834 crore ($10 billion) in FY26, marking a 5.6 per cent year-on-year (YoY) increase. Core infrastructure businesses accounted for 87 per cent of total earnings.
During the last financial year, Adani Enterprises raised Rs 24,930 crore through a rights issue.