Adani Stocks: The global economy has been reeling under pressure in 2022 this year so far. Rising inflation and geopolitical tensions have created panic among investors across the globe. It has also affected the Indian stock market. However, the Indian stock market still looks strong as compared to the stock markets of other developing countries. In such times, Adani Group stocks have given multibagger returns to investors who seem to be ignoring the lack of analyst coverage as well as sky-high valuations.
Adani Power
Adani Power shares are one of the multibagger stocks in 2022 the Indian stock market. In YTD time, Adani Power’s share price has surged from around Rs 101 to Rs 270 apiece levels on NSE, recording around 165 per cent rise in 2022. However, this multibagger Adani stock has a history of delivering a staggering return to its shareholders. This multibagger stock has been under consolidation phase after ushering in June 2022. In the last one month, Adani Power’s share price has descended from around Rs 340 to Rs 270 apiece levels, logging around a 20 per cent dip in this period. In YTD time, this Adani group stock has ascended around 165 per cent whereas, in the last six months, this multibagger Adani stock has appreciated from around Rs 100 to Rs 270, delivering a near 170 per cent return to its shareholders. Likewise, if an investor had invested Rs 1 lakh in this multibagger Adani stock one year ago, its Rs 1 lakh would have turned to Rs 2.35 lakh today. Similarly, if an investor had invested Rs 1 lakh in this stock four years ago, its Rs 1 lakh would have become Rs 17 lakh today.
Adani Wilmar
Edible oil company Adani Wilmar, which owns the oil brand Fortune, is the latest multibagger from the Adani group. It got listed on February 8 this year. As compared to the issue price of Rs 230, the stock has delivered a handsome profit of 158 per cent so far.
The company came up with an IPO in February 2022. It is now trading around Rs 560. That is, the IPO of Adani Wilmar has given investors a return of more than 142 per cent from the IPO price. This share of Rs 230 has also touched the level of Rs 878. However, the large-cap stock has lost 37 per cent compared to the record high to date on profit-booking, Q4 earnings effect, and Indonesia lifting a ban on the palm oil exports.
In mid-May, ICICI Securities initiated coverage on the Adani Wilmar stock with a ‘Hold’ rating and a SoTP-based target price of Rs 550. The brokerage expects the edible oil business to witness a 10 per cent volume growth CAGR over FY22-24E (including the impact of the Bangladesh acquisition).
“In FY23E, we expect volume growth of 11 per cent with some benefit of full-year consolidation of Bangladesh – we note Bangladesh operations are mainly in the edible oil segment. For FY24E, we expect volume growth of 9.0 per cent in the edible oil business,” it said.
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