Buy Adani Enterprises, target price Rs 1870: Yes Securities

Yes Securities has buy call on with a target price of Rs 1870. The current market price of Adani Enterprises Ltd. is Rs 1751.5. Time period given by analyst is Intra Day when Adani Enterprises Ltd. price can reach defined target. .

Adani Enterprises Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 192752.72 Crore) operating in Diversified sector.

Adani Enterprises Ltd. key Products/Revenue Segments include Coal, Sale of services and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 13597.10 Crore, up 6.81 % from last quarter Total Income of Rs 12730.63 Crore and up 46.01 % from last year same quarter Total Income of Rs 9312.14 Crore. Company reported net profit after tax of Rs 121.74 Crore in latest quarter.


Investment Rationale
The stock has resumed uptrend after breaking out of a narrow consolidation zone on healthy volumes confirming the bullishness. RSI has also turned upwards from the lower end of the bull zone.

Promoter/FII Holdings
Promoters held 74.92 per cent stake in the company as of 30-Sep-2021, while FIIs owned 18.05 per cent, DIIs 3.87 per cent.