By FY30, the brokerage expects Adani Enterprises' airport portfolio to handle 145 million passengers annually, while its data centre business is projected to build a 2 GW portfolio through the joint venture route.
By CNBCTV18.com
Morgan Stanley has initiated coverage on Adani Enterprises Ltd. with an 'Overweight' rating and a price target of ₹3,638 per share, implying a potential upside of 23% from current levels.
In its note, the brokerage described Adani Enterprises as India's leading business incubator, offering exposure to several long-term growth themes, including transport infrastructure through airports and roads, digital infrastructure via data centres, energy transition through its new energy business, and the country's self-reliance push across sectors such as copper, PVC, mining and defence.
Morgan Stanley expects the company's EBITDA to nearly triple by FY30, supported by growth in its airports, new energy and primary industries businesses.
Key growth catalysts for FY27 include the commissioning of the Navi Mumbai International Airport (NMIA), progress on the Ganga Expressway project, ramp-up of its copper plant and expansion of its new energy capacity.
By FY30, the brokerage expects Adani Enterprises' airport portfolio to handle 145 million passengers annually, while its data centre business is projected to build a 2 GW portfolio through the joint venture route.
Shares of Adani Enterprises ended Tuesday's session 3.1% lower at ₹2,964.60. Despite the decline, the stock has gained more than 30% so far in 2026.
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