Ahmedabad, June 7 (IANS) Global brokerage Jefferies has maintained a bullish outlook on key Adani Group power and infrastructure companies, including Adani Green Energy, Adani Power, and Adani Energy Solutions, citing strong capacity expansion plans, robust demand visibility, and improving execution momentum across businesses.

In its latest note, Jefferies said it remains positive on Adani Green Energy Limited with a “Buy” rating and a price target of Rs 1,435, implying limited near-term upside but strong long-term execution potential.

The brokerage highlighted that the company is accelerating its renewable energy expansion from 19.3 GW in FY26 to a targeted 50 GW by 2030, including a 5 GW pumped storage project and a sharp scale-up in battery energy storage systems to over 10 GWh by FY27.

Jefferies noted that large-scale development at Khavda in Gujarat, where 30 GW of renewable capacity is being built, remains a key growth driver.

On Adani Power Limited, Jefferies maintained a “Buy” rating with a target price of Rs 255, pointing to an upside of about 11 per cent.

The brokerage said the company’s capacity expansion roadmap to 42 GW by FY32, along with a strong pipeline of long-term power purchase agreements, significantly improves earnings visibility.

It added that nearly 56 per cent of upcoming capacity is already tied up under PPAs, with management aiming for full tie-ups going forward.

For Adani Energy Solutions Limited, Jefferies reiterated a “Buy” rating with a price target of Rs 1,665, highlighting its position as India’s only listed pure-play transmission and distribution company in the private sector.

The brokerage said the company is well placed to benefit from India’s expanding transmission infrastructure pipeline and rising smart meter deployment.

Jefferies pointed out that AESL is executing transmission projects worth Rs 718 billion, while the smart metering business is scaling rapidly with more than 11 million meters installed by FY26.

The brokerage expects EBITDA and PAT to grow at strong double-digit rates over the medium term, driven by execution momentum and expanding opportunities in data centres, commercial and industrial energy solutions.

–IANS

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