Adani Green Energy Ltd (AGEL) shares rose 2.4% to ₹894.10 after Cantor initiated coverage with an ‘Overweight’ rating, projecting a 40% upside potential with a target price of ₹1,222. The brokerage cited India’s aggressive push for net-zero emissions and renewable energy expansion as key drivers for AGEL’s growth.
Adani Green, India’s largest renewable energy company, currently operates a power portfolio of 11.6 GW across solar, wind, and hybrid projects. Cantor believes that India’s commitment to carbon reduction will continue to enhance investment sentiment towards the company.
The brokerage highlighted AGEL’s strong expansion plans and execution capabilities, making it a frontrunner in India’s clean energy transition. Given these factors, Cantor remains bullish on the stock, seeing significant long-term growth potential.
Stock Details
- Current Price: ₹894.10
- Previous Close: ₹873.65
- Day Range: ₹868.85 – ₹898.10
- 52-Week Range: ₹758.00 – ₹2,174.10
- Market Cap: ₹1.42 Trillion
- P/E Ratio: 113.33
- Average Volume: 5.76M
Disclaimer: Stock market investments are subject to risks. Investors are advised to conduct their due diligence before making any decisions.
