Elara Capital gives Adani Energy Solutions ‘buy’ rating with Rs 930 target price, an upside of 37 pc
Ahmedabad, Feb 20 (SocialNews.XYZ) Global brokerage Elara Capital on Thursday initiated coverage on Adani Energy Solutions Ltd (AESL) with a 'BUY' rating and a share price target of Rs 930 -- implying a 37 per cent potential upside from the current market price. Adani Energy Solutions is set to post robust growth in its transmission, distribution, and smart meters businesses. Transmission EBITDA is likely to double to Rs 76 billion by FY27E, driven by India's renewable energy (RE) target, 20-25 per cent market share in Rs 840 billion near-term transmission bid and a Rs 548 billion project pipeline.
