“Initiated coverage on Adani Enterprises with a 'buy' rating and a target price of ₹3,880 per share, representing a 25% upside from Wednesday's close. The brokerage sees potential for the stock to reach ₹4,500 in a best-case scenario, driven by multiple growth triggers across its diverse infrastructure and incubation businesses, including the commissioning of Navi Mumbai International Airport and new energy capacity expansion. Consolidated EBITDA is projected to nearly double to ₹29,900 crore by March 2029 from ₹14,000 crore in FY26.”

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%