10 Best Adani Stocks to Watch Out For in 2024

Adani stocks  were ruling the stock markets in 2022. Adani group companies like Adani Power Ltd. is up by nearly  590% in the past 3 years. (as of May30, 2023 ). Adani Green Energy Ltd. is also up by  289% in the last 3 years. Another popular Adani stock is Adani Wilmar Ltd, which is a joint venture between Adani Enterprises Ltd. and Wilmar International Ltd. This Adani stock  is 89%. above its issue price in less than one and a half year.

In this article, we will cover

Imagine the wealth that you could have created by investing in Adani stocks in the last 3 years. Suppose you had invested Rs 1 Lakh in Adani Power Ltd on May 29,  2023 at a share price of Rs 36.40 per share. You would have received 2,747 shares. The value of these Adani stocks would be Rs  6.90 Lakhs (share price of Rs 251.10 as on May30, 2023 ). And this type of return is not just limited to Adani Power Ltd. Almost every Adani stock has given exceptional returns in the last 3 years. Adani stocks are the primary reasons why Gautam Adani was the second richest man on the planet, overtaking Warren Buffett and even Mukesh Ambani! Post the reports of fraud, Gautam Adani’s net worth has skydived and he is now the 24th richest person with a networth of USD 52.5 billion. There are a total of nine Adani stocks listed in the stock market with 2 cement stocks (ACC and Ambuja Cements) acquired from Holcim group. These stocks are market leaders in sectors like gas, green energy, cement and power etc.  In fact, it seems like Gautam Adani is creating a universe of stocks in order to be the ultimate authority in green energy, infrastructure and power sector. This is much like the comic universe created by Marvel and DC comics. And it seems to be working! Adani group companies are highly popular among retail investors, not just in cash but also in the Futures & Options segment as well. In fact, Adani stocks like Adani Enterprises Ltd. and Adani Ports & SEZ Ltd. are a permanent feature on the daily volatility list. Retail investors just love Adani stocks and why wouldn’t they? Adani stocks are highly liquid, volatile and experience wide fluctuations in prices, making them perfect for traders. Here is the list of Adani stocks currently listed on the Indian stock exchanges.

List of Adani Stocks in the Stock Market

Adani Group Stocks Current Market (CMP) (in Rs.) Price Market Cap (in Rs. Crores)
Adani Ports and Special Economic Zone Ltd. 734.05 158,619.00
Adani Power Ltd. 251.1 96,828.45
Adani Total Gas Ltd. 698.05 76,810.74
Adani Transmission Ltd. 804.3 89,668.88
Adani Wilmar Ltd. 435.7 56,633.50
NDTV 241 1,558.00
ACC 1,798.55 33,774.48
Ambuja Cements Ltd 430.95 85,571.38
Let us now look at each Adani stock in detail. We will understand their core business and look at their revenue and net profit numbers.

Adani Stock #1: Adani Green Energy Ltd

This is the second biggest Adani stock with a market capitalisation of Rs 1,53,073 crore (as on May 30, 2023). It is also one of the costliest Adani stocks with a Price to Earnings ratio of 141. Adani Green Energy Ltd. is one of the biggest companies working in the field of renewable energy. It generates about 4,975 megawatts (MW) of solar power and  971 MW of wind power. adani green energy The biggest growth driver for Adani Green Energy Ltd is the changing consumption pattern. India is the third largest economy in the world. It is also one of the most polluted. Our carbon emissions are a major concern. The government has aimed to reduce the carbon emissions to 30-35% by 2030. For this, the government plans to build 450 Gigawatts of renewable energy by 2030. And Adani Green Energy Ltd is perfectly positioned to fulfill the ever-rising demand for renewable energy. The company has generated a revenue of Rs 7,792 crore in  FY23. This is a growth of 51.80% from financial year 2022. There is also some good news on the net profit front. Adani Green Energy Ltd.’s net profit has nearly doubled from Rs.489 crores in FY22 to Rs. 973 crores in FY23.. Key financial ratios of Adani Green Energy Ltd. as on May 04, 2022
Market Cap (Cr): Rs  1,57,492 Face Value (₹): 10 EPS (₹):  6.14
Book Value (₹):  46.1 ROCE (%):  7.65 Debt to Equity(x):  7.42
Stock P/E:  143 ROE (%):  22.2 Dividend Yield (%): 0

Adani Stock #2: Adani Transmission Ltd

This Adani stock is one of the big players in the field of generation, transmission and distribution of power. It has managed to add 1,704 ckms to operational network with a total network of 19,779 ckms. . It has a power transformation capacity of  46,001MVA of electricity, with distribution losses at 5.93%. The company is dependent on the rising demand for electric vehicles, metro rail networks, smart cities, and gadgets etc. As India transitions to a developed nation, the need for electricity is bound to skyrocket. Did you know that in the USA, 90% of households own air conditioner? The same is only 5% in India. India’s per capita consumption of electricity is 1,208 kilowatt hours (kWh). In contrast, the per capita consumption in the USA is 11,730 kWh. So, there is huge scope and opportunity in the electricity segment in India. And this is exactly what Adani Transmission Ltd. is banking on. Adani Transmission In terms of revenue, their numbers have improved by 18% in the last one year. Adani Transmission Ltd.’s revenue grew from Rs. 11,258 crore in FY22 to Rs  13,293 crore in  FY23. The company’s net profit rose by 4% from Rs. 1,236 crore in  FY22 to Rs. 1,281 crore in FY23. Key financial ratios of Adani Transmission Ltd. as on  May 31,2023
Market Cap (Cr): Rs  91,069 Face Value (₹): 10 EPS (₹):  11.26
Book Value (₹):  105 ROCE (%):  10.5 Debt to Equity:  2.94
Stock P/E:  72.5 ROE (%):  11.6 Dividend Yield (%): 0

 Adani Stock #3: Adani Total Gas Ltd.

Adani Total Gas Ltd. supplies natural gas for domestic, commercial and industrial consumption. It is the largest private distributor of piped natural gas in India. It is also involved in the setting up of a city gas distribution network (CGD) across 52 geographical locations in India. Adani Total Gas Natural gas is one of the cleaner fuels which can help India reduce its carbon footprint. The government also plans to increase its use of natural gas from 6.2% to 15% by 2030. The per capita consumption of natural gas in India is way below the global average. The USA consumes 2,307 cubic metres of natural gas per capita. India consumes only 41.80 cubic metres of natural gas. So, there is a huge scope for growth in the natural gas segment. As India shifts to cleaner fuels, the demand for natural gas and Adani Total Gas Ltd will also rise. Key financial ratios of Adani Total Gas Ltd. as on  May 31,2023
Market Cap (Cr): Rs  75,529 Face Value (₹): 1 EPS (₹):  4.97
Book Value (₹):  26.7 ROCE (%):  20.3 Debt to Equity:  0.48
Stock P/E:  138 ROE (%):  20.4 Dividend Yield (%):  0.04

Adani Stock #4: Adani Enterprises Ltd

Adani Enterprises Ltd. is involved in various economic activities from miningdefense, solar to agricultural products and water management. In the mining sector, Adani Enterprises Ltd has a coal mining capacity of  110 MMT per annum. It has a total mining portfolio of 10 mines in in Chhattisgarh, Madhya Pradesh and Odisha. On the solar front, the company manufactures solar photo-voltaic cells and has an installed capacity of  4 Gigawatts. Adani Enterprises Adani Enterprises Ltd has posted great sales numbers in 2023. Its total sales nearly doubled from Rs 69,420 crore in FY22 to Rs 1,36,978 crore in  FY23. The company’s net profit jumped from Rs 788 crores in FY22 to Rs 2,422 crore in  FY23. Key financial ratios of Adani Enterprises Ltd. as on  May 31, 2023
Market Cap (Cr): Rs  2,84,818 Face Value (₹): 1 EPS (₹):  21.69
Book Value (₹):  290 ROCE (%):  10.1% Debt to Equity:  1.61
Stock P/E:  107 ROE (%):  9.66% Dividend Yield (%):  0.05

Adani Stock #5:  Adani Ports and Special Economic Zone Ltd.

Adani Ports and Special Economic Zone Ltd is the largest commercial port operator and integrated logistics company in India. Its domestic ports are in seven maritime states – Gujarat, Goa, Kerala, Andhra Pradesh, Maharashtra, Tamil Nadu and Odisha. It also operates five logistics parks with its subsidiary Adani Logistics Ltd. It comprises of  14 ports and terminals and  602 MMT of augmented capacity. The company has achieved a sales growth of  31% from Rs. 15,934 crore in FY22to Rs 20,852 crore in  FY23. Its net profit also rose from Rs 4,795 crore in FY22 to Rs 5,393 crore in FY23. Adani Ports Key financial ratios of Adani Ports & Special Economic Zones Ltd. as on  May 31,2023
Market Cap (Cr): Rs 1,73,405 Face Value (₹): 2 EPS (₹): 24.60
Book Value (₹): 146 ROCE (%): 14.10% Debt to Equity: 1.48
Stock P/E: 32.40 ROE (%): 17.70% Dividend Yield (%): 0.62

 Adani Stock #6:  Adani Power Ltd.

Adani Power Ltd is the largest thermal private player in India. It owns thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh. It also owns a solar power unit in Gujarat.. The company’s thermal power portfolio comprises of 12,410 MW. The company had an excellent 2023 as the company’s revenue grew by 40% from Rs 27,711 crores in FY22 to Rs 38,771 crores in FY23. The company’s profits rose 2.5x from Rs 4,912 crore in FY22 to Rs 10,727 crore in FY23. Key financial ratios of Adani Power Ltd. as on May 31, 2023
Market Cap (Cr): Rs  98,217 Face Value (₹): 10 EPS (₹):  27.81
Book Value (₹):  77.5 ROCE (%):  15.8% Debt to Equity:  1.42
Stock P/E:  9.14 ROE (%):  44% Dividend Yield (%): 0.00

 Adani Stock #7:  Adani Wilmar Ltd.

Adani Wilmar Ltd. isone of the largest FMCG food companies in India. . Adani Wilmar Ltd manufactures essential kitchen products like edible oil, wheat flour, rice, pulses and sugar etc. Adani Wilmar Ltd is the largest exporter of castor oil and oleochemicals in India. It is the number 1 edible oil brand of India. The company has 50 manufacturing units to cater the demand. Adani Wilmer The company posted its best sales numbers at Rs 55,262 crore in  FY 23.. However, owing to input cost pressures, the company’s net profit dipped to Rs 607 crore from Rs.808 crore reported in FY22 Key financial ratios of Adani Wilmar Ltd. as on  May 31, 2023
Market Cap (Cr): Rs  57,563 Face Value (₹): 1 EPS (₹):  4.67
Book Value (₹):  61.5 ROCE (%):  15.3 Debt to Equity:  0.28
Stock P/E:  94.8 ROE (%):  7.9 Dividend Yield (%): 0.00

Adani Stock #8:  Ambuja Cements.

Ambuja Cements Ltd. is among the leading cement companies in India. Ambuja Cement is known for its hassle-free, home-building solutions. The company combined with ACC has a cement capacity of 67.5 MTPA with 14 integrated units and 16 grinding units spread across the country with a nation-wide presence. Its unique products are tailor-made for Indian climatic conditions, sustainable operations and initiatives that advance the company's philosophy of contributing to the larger good of the society have made it the most trusted brand in the Indian cement industry. Due to the acquisition from Holcim, the Adani group company has now reported a 15-month result in March’23 by following the financial year format instead of the earlier calendar year. The company had a decent revenue growth in FY23 with revenue rising from Rs 28,965 crore in CY21 to Rs 38,937 crores in FY23. However, the company’s net profit dipped in the 15-month period from Rs 3,711 crore in CY21 to Rs 3,024 crores in FY23. Key financial ratios of Ambuja Cements. as on  May 31, 2023
Market Cap (Cr): Rs 85,234 Face Value (₹): 2.00 EPS (₹):  13.01
Book Value (₹):  160 ROCE (%):  16.4 Debt to Equity:  0.02
Stock P/E:  94.8 ROE (%):  11.0 Dividend Yield (%): 0.58

Adani Stock #9:  ACC.

ACC Limited (ACC) is a leading player in the Indian building materials space, with a pan-India operational and marketing presence. The company combined with ACC has a cement capacity of 67.5 MTPA with 14 integrated units and 16 grinding units spread across the country with a nation-wide presence. Synonymous with cement, ACC has established its reputation as a pioneer organisation that has consistently set new benchmarks with its innovative research and product development. With experience and expertise spanning over eight decades, ACC has actively contributed to India’s progress. Due to the acquisition from Holcim, the Adani group company has now reported a 15-month result in March’23 by following the financial year format instead of the earlier calendar year. The company had a strong revenue growth in FY23 with revenue rising from Rs 16,152 crore in CY21 to Rs 22,210 crores in FY23. However, due to pressures on the cost front, the company’s net profit dipped in the 15-month period from Rs 1,863 crore in CY21 to Rs 885 crores in FY23. Key financial ratios of ACC. as on  May 31, 2023
Market Cap (Cr): Rs 33,977 Face Value (₹): 10.00 EPS (₹):  26.04
Book Value (₹):  753 ROCE (%):  7.23 Debt to Equity:  0.01
Stock P/E:  55.6 ROE (%):  5.11 Dividend Yield (%): 0.51

Adani Stock #10:  New Delhi Television Limited

New Delhi Television Limited (NDTV) was promoted by Dr. Pranoy Roy and Ms Radhika Roy in September 1988 and is into business of broadcasting of news and other contents on TV. The company currently operates three channels namely NDTV 24X7, NDTV India, NDTV Prime. After starting off as TV content producer, developing news & current affairs programming for other broadcasters, the company entered into TV broadcasting arena in April 2003 with launch of its own 24-hour news channels namely ‘NDTV 24X7’ and ‘NDTV India’ providing news in English & Hindi respectively.Today NDTV is one of India’s first and largest private producer of news, current affairs and entertainment television. The company had a poor FY23 wherein the revenue dipped from Rs 396 crore in FY22 to Rs 386 crore in FY23. NDTV’s net profit also fell from Rs 85 crore to Rs 53 crore. Key financial ratios of NDTV as on  May 31, 2023
Market Cap (Cr): Rs 1,557 Face Value (₹): 4.00 EPS (₹):  7.56
Book Value (₹):  43.4 ROCE (%):  20.1 Debt to Equity:  0.03
Stock P/E:  39.2 ROE (%):  15.5 Dividend Yield (%): 0.0
This concludes our discussion on Adani stocks. While highly popular, investors should be very careful when investing in Adani stocks. For two consecutive days (May 4 and May 5, 2022) Adani Wilmar Ltd is down by 5% and hitting a lower circuit. This is despite it overtaking HUL as the biggest FMCG company in India. Something similar happened in July 2021 as well. All Adani stocks hit lower circuit… Adani Transmission was down by 5%, Adani Power Ltd nosedived 4.99% and so on. So, it wouldn’t be wrong to say that Adani stocks are in a universe of their own and you should invest in them with utmost caution. Check out which Adani stocks are best for investment and which Adani stocks should be avoided using Samco Star Rating.  Open a FREE Demat account with India’s best stock broker, Samco Securities and welcome to a world of superior trading and investing.

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