Market cap of Adani Group stocks equals 83 midcaps or 858 smallcaps

NEW DELHI: Led by world’s second richest billionaire Gautam Adani, the market capitalisation of Adani Group stocks has surpassed that of the Tata Group, India’s largest conglomerate, and is now equivalent to 83 midcaps or 858 smallcap stocks

Including the two recent acquisitions of ACC and Ambuja Cement, Adani Group's total market cap is now at Rs 22.59 lakh crore. Within the Adani Group stocks, the m-cap of Adani Transmission is the highest at Rs 4.48 lakh crore, followed by Adani Enterprises (Rs 4.3 lakh crore) and Adani Total Gas (Rs 3.98 lakh crore).

An analysis of market data from ACE Equity platform suggests that with the total m-cap of the nine stocks is high enough to buy at least 83 midcap companies including the likes of NHPC, Polycab, Gland Pharma, Godrej Properties and Biocon.


The m-cap is also good enough to buy 858 smallcap companies in India including CESC, IDFC, Tanla Platforms and Route Mobile.


While investors have been making a beeline for all Adani stocks, most of which have low free float and high promoter holding, pricey valuations are becoming a concern.

In terms of TTM PE, Adani Total Gas and Adani Green Energy are among the two most expensive stocks in Adani's family with valuations going above 700 times its current earnings.

“As a simple voyeur in this massive expansion of the Adani Group, one has to admire his sheer speed and boldness. He has literally cemented himself as a cornerstone player of the Indian economy,” said Arun Chulani, Investment Advisor, First Water Capital Fund (AIF).

After the bumper returns in Adani stocks, most of which have been multibaggers, he said one should re-deploy funds into other stocks that are relatively cheaper.

As a result of the massive surge in share prices, the Ahmedabad-based businessman’s wealth grew 116 per cent in the last one year and in absolute terms, he earned Rs 5,88,500 crore, according to IIFL Wealth Hurun India Rich List 2022.

The 60-year-old Adani’s total fortune is estimated to be at Rs 10.94 lakh crore.

Trendlyne data shows that while Adani Power has zero coverage by analysts, 3 other companies - Adani Total Gas, Adani Green and Adani Enterprises have only one analyst recommendation each.

Adani Ports, which is the group's cash cow, has the highest coverage by 22 brokerages.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)