Adani Enterprises Shares Rise Over 2% After Broker Turns Bullish as AGM Outlines ₹2 Trillion Power Capex

Mumbai, June 24: Adani Enterprises share price rose as much as 2.6% in Wednesday’s trade after global brokerage Morgan Stanley turned bullish on the stock, initiating coverage with an ‘Overweight’ rating and highlighting strong long-term growth visibility driven by India’s infrastructure and capital expenditure cycle. 

The stock’s uptick also came as investor sentiment improved following the company’s annual general meeting (AGM), where the Adani Group outlined an aggressive multi-year investment pipeline, including a massive ₹2 trillion power sector capex plan alongside broader expansion across energy, infrastructure and emerging technology businesses. 

Morgan Stanley assigned a target price of ₹3,638 per share, implying upside potential of over 20% from recent levels. The brokerage described Adani Enterprises as a key “incubator” within the group, positioned to benefit from a multi-vertical scale-up across airports, roads, energy transition projects and digital infrastructure platforms. As of writing the stock was up 2.6% at Rs 3,041. 

AGM signals large-scale capex across power and infrastructure 

Stock rose as investors cheered Adani’s ambitions across energy, infrastructure and emerging technology businesses outlined at the AGM. Source: NSE 

At the AGM, the Adani Group reiterated its long-term strategy of aggressive capital deployment, with emphasis on power generation, transmission expansion and energy transition investments. The company highlighted a ₹2 trillion capex roadmap in the power segment, reinforcing its commitment to building large-scale energy infrastructure capacity over the coming years. 

The broader strategy also reflects sustained investment across core infrastructure verticals, with the group positioning itself to benefit from India’s rising energy demand, urbanisation trends and logistics expansion. Market participants noted that the scale of announced investments underscores continued balance sheet deployment despite global macro uncertainty. 

Push into nuclear energy, AI and new infrastructure bets 

Separately, commentary from the AGM highlighted Adani Group’s expanding ambitions in next-generation sectors, including nuclear energy and artificial intelligence-linked infrastructure, alongside its traditional core businesses. The group indicated that it is aligning its portfolio with long-term structural themes such as energy security, digital infrastructure and sovereign technology capabilities.  

Sentiment supported by capex visibility and brokerage upgrade 

The combination of a bullish brokerage view and a high-visibility investment pipeline helped lift sentiment in the counter. Investors are increasingly viewing Adani Enterprises as a diversified infrastructure platform, where multiple businesses are moving toward scale and monetisation simultaneously. 

While execution risks and leverage concerns remain key monitorables for the market, the latest commentary has reinforced expectations of sustained earnings growth potential over the medium to long term, supported by India’s ongoing infrastructure build-out cycle. 

Source

• https://www.nseindia.com/get-quote/equity/ADANIENT/Adani-Enterprises-Limited