Jefferies on Adani Enterprises: Maintain Buy, Target Price ₹3,800

Jefferies has maintained its Buy rating on Adani Enterprises, with a target price of ₹3,800, underpinned by the company’s ongoing asset monetization efforts and strategic expansion initiatives. The brokerage noted that Adani Enterprises is aiming to raise $2 billion through the sale of its food and FMCG business, which will significantly improve its cash flows and strengthen its balance sheet.

In addition, the company is close to commissioning the Navi Mumbai International Airport, a major milestone that is expected to enhance its infrastructure portfolio. The brokerage also highlighted Adani Enterprises’ plans to double its cell and module manufacturing capacity, reflecting its commitment to scaling up its renewable energy business.

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Jefferies remains optimistic about the company’s long-term prospects, citing its diversified business model and ability to generate value through strategic initiatives. While near-term execution will be critical, the brokerage sees significant upside potential as Adani Enterprises continues to monetize non-core assets and invest in high-growth verticals.