Adani Enterprises Stock Surges as Morgan Stanley Issues 'Overweight' Rating; Rs 2 Trillion Power Capex Plan Unveiled

Adani Enterprises Stock Surges as Morgan Stanley Issues 'Overweight' Rating; Rs 2 Trillion Power Capex Plan Unveiled​

Shares of Adani Enterprises Ltd witnessed a strong rally on June 24, rising up to 2.4 percent in intraday trade. The stock was trading at ₹3,012 by late morning, fueled by Morgan Stanley initiating coverage with an "Overweight" rating on the infrastructure giant. The brokerage highlighted the robust growth prospects inherent across the group's diverse incubation businesses.

Morgan Stanley assigned a price target of ₹3,638 per share to Adani Enterprises. This target suggests an immediate upside potential of nearly 21 percent from current trading levels. Over the past year, the company has significantly outperformed the market, gaining around 24 percent while Nifty 50 registered a decline of 4.4 percent in the same period.

Morgan Stanley's Outlook on Infrastructure and Growth Trajectory​

The brokerage defined Adani Enterprises as a major infrastructure incubator with deep exposure to various high-growth sectors. These include airports, data centers, mining, and new energy ventures. Morgan Stanley anticipates that the company's EBITDA will triple by FY30. This projection is based on the scaling up of several emerging businesses which are expected to contribute substantially to earnings in the coming years.

Key catalysts for growth identified by Morgan Stanley over FY27 include critical project milestones. These range from the commissioning of the Navi Mumbai International Airport to progress made on the Ganga Expressway. Furthermore, the ramp-up of copper business and continuous expansion in new energy sectors are viewed as vital drivers.

Operational Milestones and Future Capacity Targets​

The brokerage provided specific capacity forecasts for the company's core segments by FY30. It projects that the airport portfolio handled by Adani Enterprises will accommodate 145 million passengers annually. Additionally, the data center capacity is expected to reach a substantial 2 GW over the same period.

Gautam Adani Outlines Massive Power Sector Capex Programme​

The positive market sentiment followed Adani Enterprises holding its 34th annual general meeting. At the event, Chairman Gautam Adani detailed the group's long-term strategic vision for infrastructure, energy, and digital businesses. A cornerstone of this plan is a Rs 2 trillion capital expenditure programme dedicated to the power sector.

Adani revealed plans to build 45 GW of new power generation capacity over the next five years. Furthermore, he set an ambitious target of developing 10 GW of nuclear power capacity by 2035. The chairman also confirmed that the ports business is aiming for cargo handling volumes totaling 1 billion tonnes by 2030.

Digital and Energy Transitions Driving Ambitions​

In terms of digital infrastructure, Adani reaffirmed the group's trajectory toward building a 3 GW data centre platform by 2030. This reinforces the company's strong ambitions within India's fastest-growing infrastructure segments. The chairman also emphasized accelerating PNG infrastructure projects to align with the nation’s rising demand for cleaner energy solutions.