Coming out completely from the shadow of the Hindenburg controversy and the US case, Gautam Adani-led ‘Adani Enterprises’ has made a spectacular comeback in the stock market. In the year 2026, this company has become the best performing company of Nifty. So far this year, its shares have seen a huge jump of 41 percent. Due to this rise, the market cap (market capitalization) of the company has increased by Rs 1.4 lakh crore and has directly crossed Rs 4.3 lakh crore.
Long queue of foreign funds to domestic investors
The company had launched a Qualified Institutional Placement (QIP) of Rs 10,000 crore on July 2, in which an additional option of Rs 5,000 crore was also kept. In view of the huge demand, the company had to increase the issue size to Rs 15,000 crore. Despite this, bids came in for around Rs 38,000 crore, which was almost four times more than the original issue. In this investment, along with big global companies like Goldman Sachs, Blackrock, Capital Group, major domestic mutual funds like SBI, HDFC, ICICI and Tata were also seen in the queue. The company will use this capital to expand its new business, repay old loans and make strategic investments.
Highly successful incubation model of three decades
Adani Enterprises started as a commodity trading company, but today it has become the country’s largest ‘incubator’. Its business model is very simple. Starting new infrastructure businesses, making them market leaders and then listing them on the stock exchange as a separate company through demerger. Since its IPO in 1994, its market value has increased at an average rate of 30 percent every year, leaving even Nifty far behind. Under this plan, six big companies like Adani Ports, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar have made their successful mark in the market.
These new businesses will become a strong foundation for the future
Leading brokerage firms Morgan Stanley and Jefferies are very positive about the future of this stock. Morgan Stanley has fixed the target price of this share at Rs 3,638. He estimates that between financial years 2026 and 2030, the company’s revenue will grow at a strong rate of 19 percent and profit (EBITDA) will grow at a strong rate of 32 percent. By the year 2030, the profit is expected to increase three times from Rs 14,000 crore to around Rs 42,300 crore.
Adani Enterprises is not dependent only on commodity business
Adani Enterprises is no longer dependent only on commodity business, but a major part of the income has started coming from core infrastructure like airports, roads, data centres, green energy and copper manufacturing. There is sure to be a huge jump in the company’s earnings due to the opening of Navi Mumbai International Airport and toll collection on Ganga Expressway. At present, 23 percent of the country’s passenger traffic passes through Adani’s eight airports. Although the company’s total debt may increase due to heavy investment (capex), but the increase in profits will improve its ability to repay its debt (net debt-to-Ebitda ratio). This is the reason why the market is assuming that Adani Enterprises will prove to be a big wealth creator for investors in future also on the basis of these new projects.
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