Adani group shares were in demand, rallying up to 15 per cent on the BSE in Friday’s intra-day deals after brokerage firm Jefferies recommended a ‘Buy’ rating on four group stocks, namely Adani Power, Adani Green Energy, Adani Energy Solutions and Adani Ports and Special Economic Zone (SEZ). Analysts at the brokerage firm took Adani group company’s management view at Jefferies India Forum 2026.

Among the listed Adani group stocks, Adani Total Gas (ATGL) soared 15 per cent on the back of eight-fold jump in the average trading volume. A combined 32.71 million shares changed hands on the NSE and BSE.

Share price Adani Green Energy surged 6 per cent to ₹1,338.05, followed by Adani Energy Solutions (4 per cent at ₹1,437), Adani Enterprises (3 per cent at ₹3,005), Adani Power (2 per cent at ₹209.60) and Adani Ports (2 per cent at ₹1,779.75). In comparison, the BSE Sensex was up 0.41 per cent at 74,622 at 02:25 PM.

Jefferies recommend a ‘Buy’ rating on Adani Energy Solutions with a target price (TP) of ₹2,060 per share. 

Meanwhile, Adani Green Energy’s management remains confident of adding 5 GW capacity in FY27E. The company is aligning capacity addition timelines with transmission infrastructure to mitigate curtailment risk. Plans to ramp up Battery Energy Storage System (BESS) capacity from 3.6 GWh currently to 10 GWh+ by FY27E remain on track. Capacity tie-up with Adani Energy Solutions caps merchant upside, though improves earnings predictability, the brokerage firm said, while assinging a TP of ₹1,695 per share.

Regarding Adani Power, management reiterated its target of expanding capacity by 2.5x to 45 GW by FY32. 56 per cent of the upcoming 23.7 GW capacity is already locked in under long-term power purchase agreements (PPAs) and the aim is to tie up 100 per cent, which lowers the risk profile further. Analysts at Jefferies believe Adani Power should see 22 per cent earnings before interest, taxes, depreciation, and amortization (EBITDA) compound annual growth rate (CAGR) over FY26-30E and turn free cash flow (FCF) positive by FY30E from negative levels currently. The brokerage has a TP of ₹270 on Adani Power.

Further, Adani Ports remains confident of achieving its 1 billion tonne cargo target by 2030 (16 per cent CAGR vs JEFe’s 13 per cent), driven by organic growth in domestic ports and ramp-up at its international ports. Integrating technology into its strong port infrastructure is a focus area. Logistics is a growth enabler for ports as well. Balance sheet remains strong with potential to turn net cash by FY31E, indicating room for growth capex. Capital allocation remains a key focus area, the brokerage firm set a TP of ₹2,160 on the stock. Disclaimer: Views and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers' discretion is advised.