Adani Green Energy shares fell over 2% after Jefferies revised its target price for the stock, lowering it to ₹1,300 from ₹2,000. As of 10:05 AM, Adani Green shares were trading 2.17% lower at Rs 1,054.80.
The downgrade reflects slower-than-expected capacity additions in the first nine months of FY25, leading to a reduction in its FY25-27 capacity and EBITDA forecasts by 4-6 GW and 4-23%, respectively.
Despite these short-term challenges, Jefferies maintains a Buy rating on the stock, citing Adani Green’s long-term growth potential in renewable energy. The company’s aggressive expansion in solar and wind energy remains a key driver for its future performance. However, Jefferies raised concerns about the stock’s valuation, which trades at a premium to peers like JSW Energy, potentially limiting near-term gains.
Adani Green shares opened at ₹1,082.00, with a high of ₹1,088.00 and a low of ₹1,054.25. The stock remains well below its 52-week high of ₹2,174.10 and above its 52-week low of ₹870.25.
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