Majority of Adani Group stocks have a Buy to Accumulate consensus as the year 2025 is nearing its end. In December, there are four Adani stocks that are too hot to add to your portfolio.
After their Q2 results for FY26, analysts have suggested BUY with a potential upside of nearly 51% in the future. Notably, these Adani stocks are trading A-listers on BSE and NSE. Who are these Adani stocks?
1. Adani Enterprises Share Price
(BUY For Target Rs 3,433, Potential 51% Upside)
On BSE, Adani Enterprises, who is the flagship company of Gautam Adani’s conglomerate, stood at Rs 2265.10 apiece with market cap of Rs 2,92,805.49 crore. YTD, this large-cap has corrected sharply with 9% downside, indicating a buy-on-dips strategy.
Over FY25-28E, analysts at Ventura Securities highlighted that Adani Enterprises consolidated revenue & EBITDA are projected to grow at a CAGR of 17.4% and 18.7%, reaching Rs 1,585 billion & Rs 238 billion, respectively, while EBITDA margins are expected to widen by 48bps to 15%.
“While the elevated capex and increased leverage may compress return ratios over 3-5 years, we anticipate a strong rebound over the longer term as high-margin verticals such as airports, GH2, data centres & copper scale up and contribute more meaningfully to profitability,” analysts added.
On the valuation, Ventura’s analysts said, “We recommend BUY with a SOTP based price target of INR 3,433 (23.6X FY28 EV/EBITDA).”
2. Adani Ports and Special Economic Zone Share Price
(BUY For Rs 1,770 Target, Potential Upside 17.3%)
Adani Ports is the flagship company in the ports and shipping sector for Adani Group. Adani Ports is higher in market valuation compared to Adani Enterprises. The heavyweight stock is currently at Rs 1509.10 apiece on BSE, with a market cap of Rs 3,25,986.57 crore.
Adani Ports has also outperformed many of its siblings in YTD performance. The stock is up by nearly 24% in 2025 so far.
Analysts at Motilal Oswal are latest to like Adani Ports stock. They believe with strong cash flows, a healthy cash balance of INR130b, and a net debt-toEBITDA ratio of 1.8x, Adani Ports is well-positioned for further expansion. Also, capacity enhancements at key ports, ongoing infrastructure projects, and global port acquisitions provide visibility for steady growth in FY26 and beyond.
Accordingly, they said, “APSEZ’s diversified cargo mix and ongoing infrastructure investments are expected to support its target of 505-515MMT cargo handling in FY26. We expect APSEZ to report 8% growth in cargo volumes over FY25-28E. This would drive a CAGR of 14%/15%/18% in revenue/EBITDA/PAT over FY25-28E. We reiterate our BUY rating with a revised TP of INR1,770 (premised on 15x FY28E
EV/EBITDA).”
3. Adani Green Energy Share Price
(BUY For Rs 1,289 Target, Potential 27% Upside)
Adani Green is at the forefront of Adani Group’s energy drive. The company is India’s largest and one of the world’s leading renewable energy (RE) companies. Adani Green is aiming to reach 50GW by 2030, including the world’s largest 30GW RE park at Khavda, Gujarat.
Currently, the A listed stock is at Rs 1016.40 apiece on BSE, with market cap of Rs 1,67,418.98 crore. YTD, the stock is down by 3%.
“Given its strong execution track record, synergies with other group businesses (transmission, distribution, and infrastructure), inventory of 2.5 lakh acres of high-quality RE sites, use of cutting-edge technologies (e.g., 5.2MW wind turbines) and predictable cash flows (81% of capacity tied up under 25-year PPAs), we believe its 50GW ambition by FY30 is achievable,” said analysts at JM Financial.
Furthermore, they highlighted that over the last 3 years, the company’s revenue /EBITDA /PAT has grown at a CAGR of 30%/ 36%/ 57% along with improvement in EBITDA margin to 79% and moderation in net debt/ EBITDA to 7.4 in FY25.
Overall, on the valuation, analysts said, “We have not given any premium for better execution and scale over its industry peers due to certain company-specific risks viz. capacity concentration in the Khavda region (30GW out of 50GW vision) and, regulatory. We value the stock at 14x EBITDA FY28 (run rate EBITDA for 28 GW in FY28). We initiate coverage on the stock with a BUY rating and TP of Rs 1,289 per share.”
4. Adani Energy Solutions Share Price:
(BUY For Rs 1,195 Target, Potential Upside 22%)
Adani Energy is among key private sector players to drive India’s power transmission segment.
Trading at Rs 979.30 apiece on BSE, the stock has a market cap of Rs 1,17,641.61 crore. YTD, Adani Energy shares have also seen impressive buying and recorded an upside of nearly 22% as of now.
The analysts are bullish on AESL’s strong execution and industry tailwinds. Analysts at IDBI Capital said, “We initiate coverage on Adani Energy Solutions (ADANIENS) with a BUY rating and a TP of Rs1,195/share. AESL, with presence in various facets of the energy domain is a leading energy solution provider in transmission and distribution segments.”
These analysts also said that AESL is well-poised in the smart-metering business and chasing growth via the energy solutions business.
With a strong order book in the smart meters division and work-in-hand in the transmission divisions, it is projected that ASEL could record an EBITDA CAGR of 33% over FY23-27E. Also, it is believed that AESL has a strong EBITDA visibility for the future.